Registered number
03878774
Quality & Service Limited
Filleted Accounts
31 December 2024
Quality & Service Limited
Registered number: 03878774
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,214 27,512
Current assets
Stocks 69,415 10,782
Debtors 4 446,360 349,385
Cash at bank and in hand 156,548 155,459
672,323 515,626
Creditors: amounts falling due within one year 5 (393,142) (342,883)
Net current assets 279,181 172,743
Net assets 301,395 200,255
Capital and reserves
Called up share capital 100 100
Profit and loss account 301,295 200,155
Shareholders' funds 301,395 200,255
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Susan Anne Roberts
Director
Approved by the board on 2 July 2025
Quality & Service Limited
Notes to the Accounts
for the year ended 31 December 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 46 33
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 7,946 80,740 10,000 98,686
Additions - 5,308 - 5,308
Disposals - (38,918) (10,000) (48,918)
At 31 December 2024 7,946 47,130 - 55,076
Depreciation
At 1 January 2024 5,438 55,736 10,000 71,174
Charge for the year 990 8,513 - 9,503
On disposals - (37,815) (10,000) (47,815)
At 31 December 2024 6,428 26,434 - 32,862
Net book value
At 31 December 2024 1,518 20,696 - 22,214
At 31 December 2023 2,508 25,004 - 27,512
4 Debtors 2024 2023
£ £
Trade debtors 420,606 321,020
Other debtors 25,754 28,365
446,360 349,385
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,030 22,226
Trade creditors 101,844 82,064
Taxation and social security costs 184,085 179,177
Other creditors 102,183 59,416
393,142 342,883
6 Controlling party
Susan Anne Roberts controls 50% of the shares
John Bernard Rodgers controls 50% of the shares
7 Other information
Quality & Service Limited is a private company limited by shares and incorporated in England. Its registered office is:
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