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REGISTERED NUMBER: 01318334 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Quick Finishes Limited

Quick Finishes Limited (Registered number: 01318334)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quick Finishes Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: A C Jones
Mrs R Jones





SECRETARY: Mrs R Jones





REGISTERED OFFICE: Unit 16 Btc Trading Estate
Coseley
Bilston
West Midlands
WV14 9NA





REGISTERED NUMBER: 01318334 (England and Wales)





ACCOUNTANTS: Crudgington Business Services Limited
50 Cowley Drive
Dudley
West Midlands
DY1 2SS

Quick Finishes Limited (Registered number: 01318334)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,364 23,817

CURRENT ASSETS
Stocks 3,845 3,220
Debtors 5 105,919 96,718
Cash at bank 2,323 6,656
112,087 106,594
CREDITORS
Amounts falling due within one year 6 88,797 65,851
NET CURRENT ASSETS 23,290 40,743
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,654

64,560

CREDITORS
Amounts falling due after more than one
year

7

(15,982

)

(25,833

)

PROVISIONS FOR LIABILITIES 8 (2,782 ) (3,663 )
NET ASSETS 22,890 35,064

CAPITAL AND RESERVES
Called up share capital 9 1,020 1,020
Retained earnings 21,870 34,044
SHAREHOLDERS' FUNDS 22,890 35,064

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

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

The directors acknowledge their 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.

Quick Finishes Limited (Registered number: 01318334)

Balance Sheet - continued
29 February 2024


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 Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





A C Jones - Director


Quick Finishes Limited (Registered number: 01318334)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Quick Finishes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Quick Finishes Limited (Registered number: 01318334)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 91,007 3,487 66,439 160,933
DEPRECIATION
At 1 March 2023 81,167 3,384 52,565 137,116
Charge for year 1,968 15 3,470 5,453
At 29 February 2024 83,135 3,399 56,035 142,569
NET BOOK VALUE
At 29 February 2024 7,872 88 10,404 18,364
At 28 February 2023 9,840 103 13,874 23,817

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 95,919 86,718
Other debtors 10,000 10,000
105,919 96,718

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 49,631 25,425
Taxation and social security 16,962 18,296
Other creditors 12,204 12,130
88,797 65,851

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 15,982 25,833

Quick Finishes Limited (Registered number: 01318334)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 2,782 3,663

Deferred
tax
£   
Balance at 1 March 2023 3,663
Provided during year (881 )
Balance at 29 February 2024 2,782

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1,000 Ordinary £1 1,000 1,000
10 Ordinary 'A' Non-Voting £1 10 10
10 Ordinary 'B' Non-Voting £1 10 10
1,020 1,020

10. ULTIMATE CONTROLLING PARTY

The company is under the control of its director Mr A Jones as he owns the majority of the issued share capital.