Registered number
05857591
Quality Life Limited
Filleted Accounts
29 June 2024
Quality Life Limited
Registered number: 05857591
Balance Sheet
as at 29 June 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 - 16,605
Cash at bank and in hand - 1,122
- 17,727
Creditors: amounts falling due within one year 5 (2,566) (16,055)
Net current (liabilities)/assets (2,566) 1,672
Total assets less current liabilities (2,566) 1,672
Provisions for liabilities (38) (38)
Net (liabilities)/assets (2,604) 1,634
Capital and reserves
Called up share capital 1 1
Profit and loss account (2,605) 1,633
Shareholder's funds (2,604) 1,634
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms Ayokovie Tamakloe-Wilson
Director
Approved by the board on 5 May 2025
Quality Life Limited
Notes to the Accounts
for the period from 1 July 2023 to 29 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 11,029
At 29 June 2024 11,029
Depreciation
At 1 July 2023 11,029
At 29 June 2024 11,029
Net book value
At 29 June 2024 -
4 Debtors 2024 2023
£ £
Trade debtors - 3,841
Other debtors - 12,764
- 16,605
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,168 -
Taxation and social security costs 6,072 16,754
Other creditors (5,674) (699)
2,566 16,055
6 Related party transactions
At the balance sheet date, the director owed the company a sum of £6,745. No interest was
charged and the loan was repaid back to the company within 9 months of the year end.
7 Other information
Quality Life Limited is a private company limited by shares and incorporated in England. Its registered office is:
22A Longton Grove
London
SE26 6QE
Quality Life Limited 05857591 false 2023-07-01 2024-06-29 2024-06-29 VT Final Accounts April 2024 Ms Ayokovie Tamakloe-Wilson No description of principal activity 05857591 2022-07-01 2023-06-30 05857591 core:WithinOneYear 2023-06-30 05857591 core:ShareCapital 2023-06-30 05857591 core:RetainedEarningsAccumulatedLosses 2023-06-30 05857591 2023-07-01 2024-06-29 05857591 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-29 05857591 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-29 05857591 bus:Director40 2023-07-01 2024-06-29 05857591 1 2023-07-01 2024-06-29 05857591 2 2023-07-01 2024-06-29 05857591 countries:England 2023-07-01 2024-06-29 05857591 bus:FRS102 2023-07-01 2024-06-29 05857591 bus:FilletedAccounts 2023-07-01 2024-06-29 05857591 2024-06-29 05857591 core:WithinOneYear 2024-06-29 05857591 core:ShareCapital 2024-06-29 05857591 core:RetainedEarningsAccumulatedLosses 2024-06-29 05857591 core:PlantMachinery 2024-06-29 05857591 2023-06-30 05857591 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure