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Registered number: 02781324
Quality Systems Management Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Edmonds Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02781324
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 764,000 787,000
Investments 6 242,800 184,923
1,006,800 971,923
CURRENT ASSETS
Debtors 7 5,212 277
Cash at bank and in hand 97,105 149,795
102,317 150,072
Creditors: Amounts Falling Due Within One Year 8 (1,799 ) (2,399 )
NET CURRENT ASSETS (LIABILITIES) 100,518 147,673
TOTAL ASSETS LESS CURRENT LIABILITIES 1,107,318 1,119,596
Creditors: Amounts Falling Due After More Than One Year 9 (304,090 ) (304,090 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (125,220 ) (130,970 )
NET ASSETS 678,008 684,536
CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Other reserves 375,660 392,910
Profit and Loss Account 301,348 290,626
SHAREHOLDERS' FUNDS 678,008 684,536
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Anderson
Director
27/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Quality Systems Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02781324 . The registered office is 20 Nash Park, Foxley Fields, Binfield, Bracknell, Berkshire, RG42 4EN.
2. Accounting Policies
2.1. Basis of Preparation of 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 as modified by the revaluation of certain assets.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair
value is recognised in profit or loss.
2.5. 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 statement of financial position date.
2.6. Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 April 2023 64 4,062 4,126
As at 31 March 2024 64 4,062 4,126
Depreciation
As at 1 April 2023 64 4,062 4,126
As at 31 March 2024 64 4,062 4,126
Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 - - -
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 787,000
Revaluations (23,000)
As at 31 March 2024 764,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 263,119 263,119
6. Investments
Subsidiaries Listed Total
£ £ £
Cost
As at 1 April 2023 1 184,922 184,923
Additions - 80,313 80,313
Disposals - (78,129 ) (78,129 )
Revaluations - 55,693 55,693
As at 31 March 2024 1 242,799 242,800
Provision
As at 1 April 2023 - - -
As at 31 March 2024 - - -
Net Book Value
As at 31 March 2024 1 242,799 242,800
As at 1 April 2023 1 184,922 184,923
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 5,212 277
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 1,799 1,487
Taxation and social security - 912
1,799 2,399
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 304,090 304,090
10. Secured Creditors
Of the creditors the following amounts are secured by fixed and floating charges over the investment property. 
2024 2023
£ £
Bank loans and overdrafts 304,090 304,090
11. Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement
of financial position 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.
2024 2023
£ £
Other timing differences 125,220 130,970
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 5