Registered number
07532460
QUALITY SALES LEADS LIMITED
Report and Accounts
29 February 2024
QUALITY SALES LEADS LIMITED
Company Information
Director
LJ Kettleton
Accountants
Abell Limited
128 Cannon Workshops
Cannon Drive
Canary Wharf
Bankers
Barclays Bank plc
Registered number
07532460
QUALITY SALES LEADS LIMITED
Accountants' Report
for the year ended 29 February 2024
Accountants' report to the director of
QUALITY SALES LEADS LIMITED
You consider that the company is exempt from an audit for the year ended 29 February 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Abell Limited
Chartered Accountants
128 Cannon Workshops
Cannon Drive
Canary Wharf
27 November 2024
QUALITY SALES LEADS LIMITED
Registered number: 07532460
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,526 10,378
Current assets
Debtors 4 132,640 153,162
Cash at bank and in hand 52,001 7,359
184,641 160,521
Creditors: amounts falling due within one year 5 (94,354) (79,235)
Net current assets 90,287 81,286
Net assets 98,813 91,664
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 88,813 81,664
Shareholders' funds 98,813 91,664
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
LJ Kettleton
Director
Approved by the board on 27 November 2024
QUALITY SALES LEADS LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings,and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 18
3 Tangible fixed assets
Equipment
£
Cost
At 1 March 2023 42,044
Additions 990
At 29 February 2024 43,034
Depreciation
At 1 March 2023 31,666
Charge for the year 2,842
At 29 February 2024 34,508
Net book value
At 29 February 2024 8,526
At 28 February 2023 10,378
4 Debtors 2024 2023
£ £
Trade debtors 127,470 149,726
Other debtors 5,170 3,436
132,640 153,162
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 531 8,031
Trade creditors 342 7,878
Corporation tax 24,517 18,216
Other taxes and social security costs 36,626 15,989
Other creditors 32,338 29,121
94,354 79,235
6 Controlling party
LJ Kettleton
7 Other information
QUALITY SALES LEADS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
128 Cannon Workshops
Cannon Drive
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