Associated Quality Services Ltd
Registered number: 07702811
Balance Sheet
as at 31 July 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 - 4,906
Current assets
Debtors 4 845 5,602
Cash at bank and in hand 7,671 13,438
8,516 19,040
Creditors: amounts falling due within one year 5 (4,314) (22,504)
Net current assets/(liabilities) 4,202 (3,464)
Total assets less current liabilities 4,202 1,442
Provisions for liabilities - (932)
Net assets 4,202 510
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,102 410
Shareholders' funds 4,202 510
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.
Mr R Grant
Director
Approved by the board on 27 August 2025
Associated Quality Services Ltd
Notes to the Accounts
for the year ended 31 July 2025
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.
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:
Plant and machinery 25% Reducing balance
Motor vehicles 25% Reducing balance
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.
Cessation of Trading
These financial statements represent the final year of trading for the company.The directors intend to apply for the voluntary strike off of the company following the completion of these financial statements
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2024 407 8,495 8,902
Disposals (407) (8,495) (8,902)
At 31 July 2025 - - -
Depreciation
At 1 August 2024 397 3,599 3,996
On disposals (397) (3,599) (3,996)
At 31 July 2025 - - -
Net book value
At 31 July 2025 - - -
At 31 July 2024 10 4,896 4,906
During the year, the company transferred its vans to the shareholders at their market value of £500 each. The transfers have been accounted for as disposals at market value, with any resulting gain or loss recognised in the profit and loss account.
4 Debtors 2025 2024
£ £
Trade debtors 845 4,905
Other debtors - 697
845 5,602
5 Creditors: amounts falling due within one year 2025 2024
£ £
Corporation tax 3,567 3,817
Other creditors 747 18,687
4,314 22,504
6 Other information
Associated Quality Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
SHMS House
20 Little Park Farm Road
Fareham
Hampshire
PO15 5TD
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