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Company Registration No. SC657152 (Scotland)
QUALITY PARTS LTD Unaudited accounts for the year ended 31 March 2024
QUALITY PARTS LTD Unaudited accounts Contents
Page
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QUALITY PARTS LTD Company Information for the year ended 31 March 2024
Director
Romualdas Dabasinskas
Company Number
SC657152 (Scotland)
Registered Office
157 NORMAN RISE LIVINGSTON EH54 6NN SCOTLAND
Accountants
Eurofirma Ltd 59 Devons Road London E3 3DW
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QUALITY PARTS LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
507,350 
402,303 
Debtors
100 
8,113 
Cash at bank and in hand
7,706 
- 
515,156 
410,416 
Creditors: amounts falling due within one year
(408,267)
(348,619)
Net current assets
106,889 
61,797 
Total assets less current liabilities
106,889 
61,797 
Creditors: amounts falling due after more than one year
(62,827)
(38,570)
Net assets
44,062 
23,227 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
43,962 
23,127 
Shareholders' funds
44,062 
23,227 
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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 December 2024 and were signed on its behalf by
Romualdas Dabasinskas Director Company Registration No. SC657152
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QUALITY PARTS LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
QUALITY PARTS LTD is a private company, limited by shares, registered in Scotland, registration number SC657152. The registered office is 157 NORMAN RISE, LIVINGSTON, EH54 6NN, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
8,013 
Other debtors
100 
100 
100 
8,113 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
5,872 
- 
Trade creditors
11,761 
11,469 
Taxes and social security
5,118 
6,266 
Other creditors
98 
281 
Loans from directors
385,418 
330,603 
408,267 
348,619 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
62,827 
38,570 
7
Average number of employees
During the year the average number of employees was 13 (2023: 15).
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