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Registration number: 10599569

De Quality Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

De Quality Services Ltd

Contents

Balance Sheet

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 9

 

De Quality Services Ltd

(Registration number: 10599569)
Balance Sheet as at 31 December 2023

Note

2023

(As restated)

2022

Fixed assets

 

Tangible assets

4

2,796

2,128

Investments

5

737,300

688,027

 

740,096

690,155

Current assets

 

Debtors

6

101,657

62,424

Cash at bank and in hand

 

49,586

5,111

 

151,243

67,535

Creditors: Amounts falling due within one year

7

(752,066)

(654,096)

Net current liabilities

 

(600,823)

(586,561)

Net assets

 

139,273

103,594

Capital and reserves

 

Called up share capital

11,702

11,702

Retained earnings

127,571

91,892

Shareholders' funds

 

139,273

103,594

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 December 2024
 

.........................................
Gianni Mario Auriglietti
Director

 

De Quality Services Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital

Retained earnings

Total

At 1 January 2023

11,702

91,892

103,594

Profit for the year

-

35,679

35,679

At 31 December 2023

11,702

127,571

139,273

Share capital

Retained earnings

Total

At 1 January 2022

11,702

40,069

51,771

Profit for the year

-

51,823

51,823

At 31 December 2022

11,702

91,892

103,594

 

De Quality Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
5th Floor North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ
England

These financial statements were authorised for issue by the director on 3 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Reclassification of comparative amounts

Investments in subsidiaries and associates for 2022 for the total amount of € 688,027 are reclassified from current assets to non current assets. The effect in net assests is NIL.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

 

De Quality Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

De Quality Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors,loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
 Recognition and measurement
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in Profit or Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

De Quality Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Office equipment

Total

Cost or valuation

At 1 January 2023

3,037

3,037

Additions

1,508

1,508

At 31 December 2023

4,545

4,545

Depreciation

At 1 January 2023

909

909

Charge for the year

840

840

At 31 December 2023

1,749

1,749

Carrying amount

At 31 December 2023

2,796

2,796

At 31 December 2022

2,128

2,128

5

Investments

2023

(As restated)

2022

Investments in subsidiaries

530,000

458,000

Investments in associates

207,300

230,027

737,300

688,027

Subsidiaries

Cost or valuation

At 1 January 2023

458,000

Additions

72,000

At 31 December 2023

530,000

Provision

Carrying amount

At 31 December 2023

530,000

At 31 December 2022

458,000

 

De Quality Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Associates

Cost

At 1 January 2023

230,027

Disposals

(22,727)

At 31 December 2023

207,300

Provision

Carrying amount

At 31 December 2023

207,300

At 31 December 2022

230,027

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Icco Services SA

Switzerland

Ordinary shares

100%

100%

Innovamak SA

Switzerland

Ordinary shares

100%

100%

Sbc Swiss Business Centre SRL

Romania

Ordinary Sshares

90%

90%

Swisspoint HR & Co SRL

Romania

Ordinary shares

53.66%

53.66%

Worldwide Accounting Services SRL

Romania

Ordinary shares

100%

100%

Valpack Tech SRL

Romania

Ordinary shares

100%

100%

Associates

Agateck SA

Ordinary shares

25%

25%

Switzerland

G & Partec SA

Ordinary shares

35%

35%

Switzerland

G & G Partners SA

Ordinary shares

11%

11%

 

De Quality Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

Switzerland

Swisspoint Real Estate SRL

Ordinary shares

50%

50%

Romania

Tell Agency Advertising SRL

Ordinary shares

25%

25%

Romania

 

De Quality Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023

2022

Trade debtors

92,334

17,640

Prepayments

-

30,811

Other debtors

9,323

13,973

 

101,657

62,424

7

Creditors

Creditors: amounts falling due within one year

2023

2022

Due within one year

Trade creditors

136,914

87,323

Taxation and social security

10,787

1,525

Accruals and deferred income

252,614

5,250

Other creditors

351,751

559,998

752,066

654,096