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REGISTERED NUMBER: 04671123 (England and Wales)



















EUROQUALITY LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






EUROQUALITY LTD (REGISTERED NUMBER: 04671123)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


EUROQUALITY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr A Sun





REGISTERED OFFICE: 29 Cranwich Road
Flat A
London
N16 5HZ





REGISTERED NUMBER: 04671123 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

EUROQUALITY LTD (REGISTERED NUMBER: 04671123)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 209 269

CURRENT ASSETS
Stocks 6 9,500 1,300
Debtors 7 1,750 1,750
Cash at bank 2,658 150
13,908 3,200
CREDITORS
Amounts falling due within one year 8 29,274 22,573
NET CURRENT LIABILITIES (15,366 ) (19,373 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,157

)

(19,104

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (15,158 ) (19,105 )
SHAREHOLDERS' FUNDS (15,157 ) (19,104 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 January 2025 and were signed by:





Mr A Sun - Director


EUROQUALITY LTD (REGISTERED NUMBER: 04671123)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Euroquality Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Tools - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

EUROQUALITY LTD (REGISTERED NUMBER: 04671123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern notwithstanding the deficiency in net assets at the balance sheet date. The director considers this to be appropriate having regard to the continued provision of financial support by the company's director.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
Tools fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 5,223 1,101 4,673 1,688 12,685
Impairments - - (4,673 ) - (4,673 )
At 29 February 2024 5,223 1,101 - 1,688 8,012
DEPRECIATION
At 1 March 2023 5,104 1,041 4,673 1,598 12,416
Charge for year 30 12 - 18 60
Impairments - - (4,673 ) - (4,673 )
At 29 February 2024 5,134 1,053 - 1,616 7,803
NET BOOK VALUE
At 29 February 2024 89 48 - 72 209
At 28 February 2023 119 60 - 90 269

6. STOCKS
2024 2023
£    £   
Stock and Work-in-progress 9,500 1,300

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 450 450
Other debtors 1,300 1,300
1,750 1,750

EUROQUALITY LTD (REGISTERED NUMBER: 04671123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 178
Trade creditors 6,831 1,498
Other creditors 22,443 20,897
29,274 22,573

9. RELATED PARTY DISCLOSURES

Other creditors include amounts aggregating £960 (2023: £960) due to a related company under common control.