Company registration number: 05326843
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FOR THE YEAR ENDED
31 DECEMBER 2023
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ALL ABOUT QUALITY LIMITED
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ALL ABOUT QUALITY LIMITED
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COMPANY INFORMATION
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I Solaguren-Beascoa Martinez
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Chartered Accountants & Statutory Auditor
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ALL ABOUT QUALITY LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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ALL ABOUT QUALITY LIMITED
REGISTERED NUMBER:05326843
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 6 form part of these financial statements.
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ALL ABOUT QUALITY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
All About Quality 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.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
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Preparation of consolidated financial statements
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The financial statements contain information about All About Quality Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, London Sky Garden Ltd, The Riverside Building, County Hall, Westminster Bridge Road, London SE1 7PB.
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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ALL ABOUT QUALITY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Fixed asset investments are stated at cost less provision for permanent diminution in value.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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ALL ABOUT QUALITY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Shares in group undertakings
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Interest in other participating interests
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The company’s investment in group undertakings has been impaired to the recoverable amount being the undertaking's net assets as at the balance sheet date.
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ALL ABOUT QUALITY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Due after more than one year
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Amounts owed by group undertakings
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Due from connected companies
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Amounts owed by group undertakings
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Due from connected companies
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to connected companies
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Creditors: Amounts falling due after more than one year
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Amounts owed to connected companies
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ALL ABOUT QUALITY LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Allotted, called up and fully paid
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28,000,000 (2022 - 28,000,000) Ordinary shares shares of £1.00 each
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Related party transactions
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Included within creditors falling due within one year is £6,591,691 (2022: £7,610,548) relating to a directors' loan account in favour of O O'Connor.
Included within creditors falling due within one year is an amount of £1,655,060 (2022: £1,662,712) relating to a directors' loan account in favour of M Okamoto.
There are no formal repayment terms agreed on the above loans and are interest free.
Included in debtors due after more than one year is £4,692,877 (2022: £4,784,439) due from Ozu Ltd, a company under common control. Additionally, amounts due to Ozu Ltd are shown within creditors falling due within one year of £371,669 (2022: £338,477) and creditors falling due after more than one year of £2,212,177 (2022: £2,177,236).
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Ultimate controlling party
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London Sky Garden Limited is regarded by the directors as being the company's ultimate controlling party and is the smallest and largest company which includes the company within its consolidated financial statements. These are available at London Sky Garden Limited, Riverside Building, County Hall, Westminster Bridge, London, SE1 7PB.
The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.
The audit report was signed on 13 January 2025 by Ralph Mitchison FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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