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REGISTERED NUMBER: 03347772 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

QUALITY AMUSEMENTS LIMITED

QUALITY AMUSEMENTS LIMITED (REGISTERED NUMBER: 03347772)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUALITY AMUSEMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: A A Valente
P G C Valente
P J F Valente





SECRETARY: P J F Valente





REGISTERED OFFICE: Boleyn House
St Augustine's Business Park
Swalecliffe
WHITSTABLE
Kent
CT5 2QJ





REGISTERED NUMBER: 03347772 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

QUALITY AMUSEMENTS LIMITED (REGISTERED NUMBER: 03347772)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,179 54,329
Tangible assets 5 650,590 644,306
654,769 698,635

CURRENT ASSETS
Stocks 12,000 9,000
Debtors 6 140,476 139,093
Cash at bank and in hand 61,723 78,524
214,199 226,617
CREDITORS
Amounts falling due within one year 7 434,727 425,010
NET CURRENT LIABILITIES (220,528 ) (198,393 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

434,241

500,242

CREDITORS
Amounts falling due after more than one
year

8

13,898

22,028
NET ASSETS 420,343 478,214

CAPITAL AND RESERVES
Called up share capital 11 1,050,000 1,050,000
Retained earnings (629,657 ) (571,786 )
SHAREHOLDERS' FUNDS 420,343 478,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

QUALITY AMUSEMENTS LIMITED (REGISTERED NUMBER: 03347772)

BALANCE SHEET - continued
31 AUGUST 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





P G C Valente - Director


QUALITY AMUSEMENTS LIMITED (REGISTERED NUMBER: 03347772)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Quality Amusements 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 represents net invoiced sales of goods, services and disbursements, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020 is being amortised over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Long leasehold property: 2% on cost.

Fixtures, fittings and office equipment: 20% on reducing balance.

Automatic machines: At rates between 25% and 30% on cost.

Motor vehicles: 25% on reducing balance.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

QUALITY AMUSEMENTS LIMITED (REGISTERED NUMBER: 03347772)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful lives. Those held under finance leases are depreciated over their useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Going concern
The financial statements have been prepared on the going concern basis. The directors consider this basis to be appropriate as the company continues to receive the support of its creditors and directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 250,750
AMORTISATION
At 1 September 2023 196,421
Charge for year 50,150
At 31 August 2024 246,571
NET BOOK VALUE
At 31 August 2024 4,179
At 31 August 2023 54,329

QUALITY AMUSEMENTS LIMITED (REGISTERED NUMBER: 03347772)

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

5. TANGIBLE FIXED ASSETS
Long Fixtures
leasehold Automatic and
property machines fittings
£    £    £   
COST
At 1 September 2023 533,944 2,202,101 41,535
Additions - 157,625 -
Disposals - (9,065 ) -
At 31 August 2024 533,944 2,350,661 41,535
DEPRECIATION
At 1 September 2023 258,190 1,888,863 41,321
Charge for year 10,679 136,202 43
Eliminated on disposal - (8,565 ) -
At 31 August 2024 268,869 2,016,500 41,364
NET BOOK VALUE
At 31 August 2024 265,075 334,161 171
At 31 August 2023 275,754 313,238 214

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 101,103 36,124 2,914,807
Additions 12,895 - 170,520
Disposals - - (9,065 )
At 31 August 2024 113,998 36,124 3,076,262
DEPRECIATION
At 1 September 2023 49,754 32,373 2,270,501
Charge for year 16,061 751 163,736
Eliminated on disposal - - (8,565 )
At 31 August 2024 65,815 33,124 2,425,672
NET BOOK VALUE
At 31 August 2024 48,183 3,000 650,590
At 31 August 2023 51,349 3,751 644,306

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,865 54,400
Other debtors 80,879 81,015
Prepayments 3,732 3,678
140,476 139,093

QUALITY AMUSEMENTS LIMITED (REGISTERED NUMBER: 03347772)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 5,000 7,000
Hire purchase contracts (see note 9) 8,793 5,433
Trade creditors 97,001 98,683
Taxation - 4,326
Social security and other taxes 40,471 35,256
Directors' current accounts 231,620 231,620
Other creditors and accruals 41,842 32,692
434,727 425,010

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,500 10,000
Bank loans - 2-5 years - 7,500
Hire purchase contracts (see note 9) 6,398 4,528
13,898 22,028

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 8,793 5,433
Between one and five years 6,398 4,528
15,191 9,961

Non-cancellable operating leases
2024 2023
£    £   
Within one year 416 -

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 94,967 90,596
Covered by losses carried
forward (94,967 ) (90,596 )
- -

QUALITY AMUSEMENTS LIMITED (REGISTERED NUMBER: 03347772)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,050,000 Ordinary £1 1,050,000 1,050,000

12. RELATED PARTY DISCLOSURES

During the year the company repaid £2,000 (2023-£24,000) of the loan due to Tankerton Properties Limited, a company of which P G Valente and P J Valente, are directors. At the year end £5,000 (2023-£7,000) was outstanding on this loan. No interest was charged on this loan.