Quality Analysis Limited 02062906 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of analytical chemists, manufacturers and distributors of perfumes, cosmetics and allied products. Digita Accounts Production Advanced 6.30.9574.0 true false 02062906 2023-05-01 2024-04-30 02062906 2024-04-30 02062906 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-04-30 02062906 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-04-30 02062906 core:CurrentFinancialInstruments 2024-04-30 02062906 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 02062906 core:Non-currentFinancialInstruments 2024-04-30 02062906 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 02062906 core:FurnitureFittingsToolsEquipment 2024-04-30 02062906 core:LandBuildings 2024-04-30 02062906 core:MotorVehicles 2024-04-30 02062906 core:OtherPropertyPlantEquipment 2024-04-30 02062906 1 2024-04-30 02062906 bus:SmallEntities 2023-05-01 2024-04-30 02062906 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02062906 bus:FilletedAccounts 2023-05-01 2024-04-30 02062906 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02062906 bus:RegisteredOffice 2023-05-01 2024-04-30 02062906 bus:Director1 2023-05-01 2024-04-30 02062906 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-05-01 2024-04-30 02062906 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-05-01 2024-04-30 02062906 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02062906 bus:Agent1 2023-05-01 2024-04-30 02062906 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 02062906 core:Land 2023-05-01 2024-04-30 02062906 core:LandBuildings 2023-05-01 2024-04-30 02062906 core:MotorVehicles 2023-05-01 2024-04-30 02062906 core:OfficeEquipment 2023-05-01 2024-04-30 02062906 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 02062906 core:PlantMachinery 2023-05-01 2024-04-30 02062906 countries:AllCountries 2023-05-01 2024-04-30 02062906 1 2023-05-01 2024-04-30 02062906 2023-04-30 02062906 core:FurnitureFittingsToolsEquipment 2023-04-30 02062906 core:LandBuildings 2023-04-30 02062906 core:MotorVehicles 2023-04-30 02062906 core:OtherPropertyPlantEquipment 2023-04-30 02062906 1 2023-04-30 02062906 2022-05-01 2023-04-30 02062906 2023-04-30 02062906 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-04-30 02062906 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-04-30 02062906 core:CurrentFinancialInstruments 2023-04-30 02062906 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 02062906 core:Non-currentFinancialInstruments 2023-04-30 02062906 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 02062906 core:FurnitureFittingsToolsEquipment 2023-04-30 02062906 core:LandBuildings 2023-04-30 02062906 core:MotorVehicles 2023-04-30 02062906 core:OtherPropertyPlantEquipment 2023-04-30 02062906 1 2023-04-30 02062906 1 2022-05-01 2023-04-30 02062906 1 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registrar

Registration number: 02062906

Quality Analysis Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Quality Analysis Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Quality Analysis Limited

Company Information

Directors

C L Bendon

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays
60 High Street
Maldon
Essex
CM9 5PR

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Quality Analysis Limited

(Registration number: 02062906)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

239,101

Current assets

 

Stocks

5

-

134,080

Debtors

6

567,983

406,284

Cash at bank and in hand

 

114,004

61

 

681,987

540,425

Creditors: Amounts falling due within one year

7

(142,117)

(452,908)

Net current assets

 

539,870

87,517

Total assets less current liabilities

 

539,870

326,618

Creditors: Amounts falling due after more than one year

7

-

(84,783)

Provisions for liabilities

-

(1,999)

Net assets

 

539,870

239,836

Capital and reserves

 

Called up share capital

8

30,000

30,000

Revaluation reserve

-

165,509

Retained earnings

509,870

44,327

Shareholders' funds

 

539,870

239,836

For the financial year ending 30 April 2024 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 8 October 2024
 

C L Bendon
Director

 

Quality Analysis Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB.

These financial statements were authorised for issue by the director on 8 October 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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Going concern

The company has ceased to trade as at the year end. The financial statements are consequently not prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the supply of analytical services, the sale of natural materials, and the manufacture of cosmetics, fragrances, and other related products. Turnover is shown net of value added tax.

The company recognises revenue when:
-The amount of revenue can be reliably measured;
- It is probable that future economic benefits will flow to the entity;
- And specific criteria have been met for each of the company's activities.

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred income tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Freehold property is held at deemed cost following the conversion to FRS102 1A on 1 May 2015.

 

Quality Analysis Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

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

Asset class

Depreciation method and rate

Freehold land and buildings

4% Straight line method

Plant and machinery

25% & 10% Straight line method

Office equipment, fixtures and fittings

25% Straight line method

Motor vehicles

25% Reducing balance method

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

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.

 

Quality Analysis Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 7).

 

Quality Analysis Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Freehold land and buildings
£

Office equipment, fixtures and fittings
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

315,000

149,909

25,992

113,496

604,397

Disposals

(315,000)

(149,909)

(25,992)

(113,496)

(604,397)

At 30 April 2024

-

-

-

-

-

Depreciation

At 1 May 2023

83,895

149,386

24,618

107,397

365,296

Eliminated on disposal

(83,895)

(149,386)

(24,618)

(107,397)

(365,296)

At 30 April 2024

-

-

-

-

-

Carrying amount

At 30 April 2024

-

-

-

-

-

At 30 April 2023

231,105

523

1,374

6,099

239,101

5

Stocks

2024
£

2023
£

Stock

-

134,080

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

438

11,259

Directors loan

10

374,542

301,449

Prepayments and accrued income

 

89,627

694

Other debtors

 

103,376

92,882

 

567,983

406,284

 

Quality Analysis Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

126,685

Trade creditors

 

4,811

182,802

Taxation and social security

 

118,497

102,725

Accruals and deferred income

 

12,354

10,581

Other creditors

 

6,455

30,115

 

142,117

452,908

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £13,424).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

84,783

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

15,000

15,000

15,000

15,000

Ordinary B of £1 each

15,000

15,000

15,000

15,000

30,000

30,000

30,000

30,000

 

Quality Analysis Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

77,121

Bank overdrafts

-

49,564

-

126,685

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

84,783

10

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Directors advances and credits

301,449

79,029

(5,936)

374,542

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Directors advances and credits

260,536

50,225

(9,312)

301,449