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REGISTERED NUMBER: 03252754 (England and Wales)















QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024






QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED (REGISTERED NUMBER: 03252754)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTOR: Mr D T Funnell





SECRETARY:





REGISTERED OFFICE: 227-229 Cleethorpe Road
Grimsby
N E Lincolnshire
DN31 3BE





REGISTERED NUMBER: 03252754 (England and Wales)





ACCOUNTANTS: Xeinadin Grimsby
28 Dudley Street
Grimsby
N E Lincolnshire
DN31 2AB

QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED (REGISTERED NUMBER: 03252754)

BALANCE SHEET
29TH FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205,153 137,106

CURRENT ASSETS
Stocks 50,276 46,554
Debtors 5 239,490 152,248
Cash at bank and in hand 39,660 98,855
329,426 297,657
CREDITORS
Amounts falling due within one year 6 195,808 173,653
NET CURRENT ASSETS 133,618 124,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,771

261,110

CREDITORS
Amounts falling due after more than one
year

7

(66,459

)

-

PROVISIONS FOR LIABILITIES (38,600 ) (25,588 )
NET ASSETS 233,712 235,522

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 10 10
Retained earnings 233,602 235,412
SHAREHOLDERS' FUNDS 233,712 235,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6th November 2024 and were signed by:



Mr D T Funnell - Director


QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED (REGISTERED NUMBER: 03252754)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Quality Machining Services (Grimsby) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 10% on cost
Motor vehicles - Straight line over 5 years

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED (REGISTERED NUMBER: 03252754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st March 2023 46,994 300,912 36,575 384,481
Additions - 16,500 66,884 83,384
At 29th February 2024 46,994 317,412 103,459 467,865
DEPRECIATION
At 1st March 2023 46,994 165,157 35,224 247,375
Charge for year - 8,132 7,205 15,337
At 29th February 2024 46,994 173,289 42,429 262,712
NET BOOK VALUE
At 29th February 2024 - 144,123 61,030 205,153
At 28th February 2023 - 135,755 1,351 137,106

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 236,830 149,518
Other debtors 2,660 2,730
239,490 152,248

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 21,782 -
Trade creditors 74,263 124,715
Taxation and social security 64,070 22,012
Other creditors 35,693 26,926
195,808 173,653

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 66,459 -