Company registration number 13584693 (England and Wales)
TRUSTED QUALITY UK LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
TRUSTED QUALITY UK LTD
CONTENTS
Page
Directors' report
1 - 2
Statement of comprehensive income
3
Statement of financial position
4
Statement of changes in equity
5
Notes to the financial statements
6 - 9
TRUSTED QUALITY UK LTD
COMPANY INFORMATION
Directors
Wenda Adriaanse
Siegfried Riedel
Secretary
CSC CLS (UK) Limited
Company number
13584693
Registered office
1 Bartholomew Lane
London
United Kingdom
EC2N 2AX
Bankers
Barclays Bank Plc
1 Churchill Place
London
E14 5HP
TRUSTED QUALITY UK LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company is providing information technology consultancy activities which digitize each individual process step, from purchasing to warehouse management, service business to measuring and billing which enables to achieve sustainability, cost savings and increased efficiency.

Results and dividends

The results for the financial year are set out on page 3.

 

No dividends was declared or paid in respect of the period under review.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Wenda Adriaanse
Siegfried Riedel
Future developments

The company is expected to see continued growth due to increased demand for its products and services, as well as the emergence of the new technologies and innovative solutions. It is also anticipated to benefit from the UK transformation plans.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Going Concern

The company business activities, together with the factors likely to affect its future development, performance and position are set out in pages 3 to 9 of the financial statements.

 

The directors have a reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future, Accordingly, the company has adopted the going concern basis in the preparation of the financial statements.

 

TRUSTED QUALITY UK LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Siegfried Riedel
Director
11 July 2025
TRUSTED QUALITY UK LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Year
Year
ended
ended
31 December
31 December
2024
2023
Notes
£
£
Turnover
111,481
114,521
Administrative expenses
(82,192)
(78,994)
Profit before taxation
29,289
35,527
Tax on profit
4
(17,628)
(6,750)
Profit for the financial year
11,661
28,777

The income statement has been prepared on the basis that all operations are continuing operations.

There are no other comprehensive expenses or income other than as included in the income for the current year and prior period and therefore a separate statement of comprehensive income is not presented.

The notes on pages 6 to 9 form part of these financial statements.

TRUSTED QUALITY UK LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 4 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
107,977
88,208
Trade and other receivables
1,890
11,410
109,867
99,618
Creditors: amounts falling due within one year
6
(5,938)
(7,350)
Trade and other payables
103,929
92,268
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
8
103,928
92,267
Total equity
103,929
92,268

The notes on pages 6 to 9 form part of these financial statements.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 11 July 2025 and are signed on its behalf by:
Siegfried Riedel
Director
Company registration number 13584693 (England and Wales)
TRUSTED QUALITY UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
1
63,490
63,491
Period ended 31 December 2023:
Profit and total comprehensive income
-
28,777
28,777
Balance at 31 December 2023
1
92,267
92,268
Year ended 31 December 2024:
Profit and total comprehensive income
-
11,661
11,661
Balance at 31 December 2024
1
103,928
103,929

The notes on pages 6 to 9 form part of these financial statements.

TRUSTED QUALITY UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
1
Accounting policies
Company information

Trusted Quality UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Bartholomew Lane, London, United Kingdom, EC2N 2AX.

1.1
Reporting period

The Company's financial year starts 1 January and ends 31 December.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.3
Going concern

The directors have, after carrying out necessary enquiries, believe that the Company has adequatetrue sources of funding to meet any future investments and pay its expenses, and is well places to manage its business risk successfully.

 

As a consequence of the above, the directors have a reasonable expectation that the Company has adequate resources and procedures in place to manage its business risks for the foreseeable future. Accordingly, the Company has adopted the going concern basis in the preparation of the financial statements.

1.4
Turnover
Revenue is recognised when the services are provided, and the amount of revenue can be determined.
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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 in the company's statement of financial position 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, when 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TRUSTED QUALITY UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Foreign exchange

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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees
The Company has 1 employee for the year ended 31 December 2024 (2023:1). The directors received no remuneration from the Company in respect of qualifying services during the period under review.
TRUSTED QUALITY UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
17,628
6,750

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
29,289
35,527
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2023: 19.00%)
5,565
6,750
Adjustments in respect of prior years
12,063
-
0
Taxation charge for the year
17,628
6,750
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1
-
0
Amounts owed by group undertakings
107,485
87,847
VAT Receivable
491
361
107,977
88,208
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,565
6,750
Other creditors
373
600
5,938
7,350
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
TRUSTED QUALITY UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
92,267
63,490
Profit for the year
11,661
28,777
At the end of the year
103,928
92,267
9
Events after the reporting date

There are no significant subsequent events after reporting date which could have had a material effect on the state of affairs of the Company as at 31 December 2024 that has not been adequately provided for or disclosed in the financial statements.

10
Ultimate Controlling Party

The Company is a wholly-owned subsidiary of ITSM Consulting GMBH, a company incorporated and domiciled in Germany. This company's registered office is located at Werner von-Siemens-Str. 9,82140 Olching, Germany. ITSM Consulting GMBH is also the ultimate parent company and the controlling party which produces the group financial statements in which the results of the Company are consolidated.

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