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COMPANY REGISTRATION NUMBER: 14684281
QUALITY LIVING PROPERTY SERVICES LIMITED
UNAUDITED ABRIDGED FINANCIAL STATEMENTS
29 February 2024
QUALITY LIVING PROPERTY SERVICES LIMITED
ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
Contents
Page
Director's report
1
Abridged statement of comprehensive income
2
Abridged statement of financial position
3
Statement of changes in equity
5
Notes to the abridged financial statements
6
The following pages do not form part of the abridged financial statements
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements
9
QUALITY LIVING PROPERTY SERVICES LIMITED
DIRECTOR'S REPORT
YEAR ENDED 29 FEBRUARY 2024
The director presents his report and the unaudited abridged financial statements of the company for the year ended 29 February 2024 .
Director
The director who served the company during the year was as follows:
Mr B Mayfield
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 18 November 2024 and signed on behalf of the board by:
Mr B Mayfield
Director
Registered office:
1 Derby Road
Eastwood
Nottingham
England
NG16 3PA
QUALITY LIVING PROPERTY SERVICES LIMITED
ABRIDGED STATEMENT OF COMPREHENSIVE INCOME
YEAR ENDED 29 FEBRUARY 2024
2024
Note
£
GROSS PROFIT
7,638
Administrative expenses
3,984
-------
OPERATING PROFIT
3,654
-------
PROFIT BEFORE TAXATION
3,654
Tax on profit
694
-------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
2,960
-------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
QUALITY LIVING PROPERTY SERVICES LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
Note
£
£
CURRENT ASSETS
Debtors
215
Cash at bank and in hand
1,239
-------
1,454
CREDITORS: amounts falling due within one year
1,294
-------
NET CURRENT ASSETS
160
----
TOTAL ASSETS LESS CURRENT LIABILITIES
160
----
NET ASSETS
160
----
CAPITAL AND RESERVES
Called up share capital
100
Profit and loss account
60
----
SHAREHOLDERS FUNDS
160
----
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
QUALITY LIVING PROPERTY SERVICES LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 18 November 2024 , and are signed on behalf of the board by:
Mr B Mayfield
Director
Company registration number: 14684281
QUALITY LIVING PROPERTY SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 29 FEBRUARY 2024
Called up share capital
Profit and loss account
Total
£
£
£
AT 1 MARCH 2023
Profit for the year
2,960
2,960
----
-------
-------
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
2,960
2,960
Issue of shares
100
100
Dividends paid and payable
( 2,900)
( 2,900)
----
-------
-------
TOTAL INVESTMENTS BY AND DISTRIBUTIONS TO OWNERS
100
( 2,900)
( 2,800)
----
-------
-------
AT 29 FEBRUARY 2024
100
60
160
----
-------
-------
QUALITY LIVING PROPERTY SERVICES LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 1 Derby Road, Eastwood, Nottingham, NG16 3PA, England.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Director's advances, credits and guarantees
Included within debtors is an amount of £215 owing from the directors. This amount is interest free and repayable upon demand.
QUALITY LIVING PROPERTY SERVICES LIMITED
MANAGEMENT INFORMATION
YEAR ENDED 29 FEBRUARY 2024
The following pages do not form part of the abridged financial statements.
QUALITY LIVING PROPERTY SERVICES LIMITED
CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF QUALITY LIVING PROPERTY SERVICES LIMITED
YEAR ENDED 29 FEBRUARY 2024
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 29 February 2024, which comprise the abridged statement of comprehensive income, abridged statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
PELLS Chartered accountants
1 Derby Road Eastwood Nottingham United Kingdom NG16 3PA
18 November 2024