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REGISTERED NUMBER: 03696868 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED

PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED (REGISTERED NUMBER: 03696868)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: M Angermund
H O L Lyon



SECRETARY: M Angermund



REGISTERED OFFICE: Sole End Industrial Estate
Astley Lane
Bedworth
CV12 0NE



REGISTERED NUMBER: 03696868 (England and Wales)



SENIOR STATUTORY AUDITOR: Kerry Lawrance FCA



AUDITORS: Compass Accountants Limited
Chartered Accountants and Statutory Auditors
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED (REGISTERED NUMBER: 03696868)

BALANCE SHEET
31ST DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 97,873 159,930

CURRENT ASSETS
Debtors 5 302,322 288,431
Cash at bank 249,190 145,934
551,512 434,365
CREDITORS
Amounts falling due within one year 6 459,671 801,086
NET CURRENT ASSETS/(LIABILITIES) 91,841 (366,721 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,714

(206,791

)

CREDITORS
Amounts falling due after more than one
year

7

-

492,656
NET ASSETS/(LIABILITIES) 189,714 (699,447 )

CAPITAL AND RESERVES
Called up share capital 9 95 95
Capital redemption reserve 105 105
Capital contribution reserve 1,367,351 -
Other reserves 12,922 12,922
Retained earnings (1,190,759 ) (712,569 )
SHAREHOLDERS' FUNDS 189,714 (699,447 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th January 2025 and were signed on its behalf by:





M Angermund - Director


PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED (REGISTERED NUMBER: 03696868)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Professional Quality Management Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discount and volume rebates.

When cash inflows are deferred and represent a financing agreement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the provision of training courses is recognised by reference to the date of delivery of the course. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that is probable will be recovered.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs have been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvement - 25% on cost
Tools & equipment - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.


PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED (REGISTERED NUMBER: 03696868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Foreign currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried

PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED (REGISTERED NUMBER: 03696868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Employee benefits and retirement benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally 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.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future as it has been confirmed the company will benefit from ongoing group support. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 56 ) .

PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED (REGISTERED NUMBER: 03696868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Property Tools & and Motor
improvement equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2024 244,168 68,259 97,316 14,191 423,934
Additions - 32,341 3,059 - 35,400
Disposals (10,936 ) - (12,743 ) (413 ) (24,092 )
At 31st December 2024 233,232 100,600 87,632 13,778 435,242
DEPRECIATION
At 1st January 2024 151,521 40,145 59,005 13,333 264,004
Charge for year 52,470 17,540 23,215 656 93,881
Eliminated on disposal (8,272 ) - (12,033 ) (211 ) (20,516 )
At 31st December 2024 195,719 57,685 70,187 13,778 337,369
NET BOOK VALUE
At 31st December 2024 37,513 42,915 17,445 - 97,873
At 31st December 2023 92,647 28,114 38,311 858 159,930

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 292,186 256,151
Other debtors 10,136 32,280
302,322 288,431

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 99,879 192,162
Amounts owed to group undertakings 8,993 36,099
Taxation and social security 226,517 273,680
Other creditors 124,282 299,145
459,671 801,086

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Other creditors - 492,656

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year - 12,290
Between one and five years 177,000 236,000
In more than five years 592,000 688,000
769,000 936,290

PROFESSIONAL QUALITY MANAGEMENT SERVICES
LIMITED (REGISTERED NUMBER: 03696868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
95 Ordinary £1 95 95

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kerry Lawrance FCA (Senior Statutory Auditor)
for and on behalf of Compass Accountants Limited

11. ULTIMATE CONTROLLING PARTY

The immediate parent company of Professional Quality Management Services Limited is Hexatronic Group AB (publ), a company incorporated in Sweden. Registered address: Sofierogatan 3A, SE-412 51 Göteborg.