Company Registration No. 07951080 (England and Wales)
QUALITY BEARINGS ONLINE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
QUALITY BEARINGS ONLINE LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 11
QUALITY BEARINGS ONLINE LTD
COMPANY INFORMATION
- 1 -
Directors
Mr D Maude
Mr S B Riley
Mrs S J Moss
Miss H T L Phan
(Appointed 2 January 2025)
Secretary
Miss J V Wendel
Company number
07951080
Registered office
Unit 2/3, Gelderd Park
98 Gelderd Park
Holbeck
Leeds
West Yorkshire
LS12 6HJ.
Accountants
TC Group
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
QUALITY BEARINGS ONLINE LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
31,726
-
0
Tangible assets
4
740,480
674,754
772,206
674,754
Current assets
Stocks
839,275
764,160
Debtors
5
950,067
888,334
Cash at bank and in hand
73,216
116,336
1,862,558
1,768,830
Creditors: amounts falling due within one year
6
(1,402,397)
(1,270,592)
Net current assets
460,161
498,238
Total assets less current liabilities
1,232,367
1,172,992
Creditors: amounts falling due after more than one year
7
(324,224)
(238,449)
Provisions for liabilities
(191,405)
(156,892)
Net assets
716,738
777,651
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
715,738
776,651
Total equity
716,738
777,651
QUALITY BEARINGS ONLINE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 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.

T he 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 and delivered 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 September 2025 and are signed on its behalf by:
Mr S B Riley
Director
Company registration number 07951080 (England and Wales)
QUALITY BEARINGS ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Quality Bearings Online Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2/3, Gelderd Park, 98 Gelderd Park, Holbeck, Leeds, West Yorkshire, LS12 6HJ..

1.1
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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website development costs
5% straight line
QUALITY BEARINGS ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Plant and equipment
33% reducing balance
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

QUALITY BEARINGS ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.8
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.

1.9
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 balance sheet 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.

1.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

QUALITY BEARINGS ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

QUALITY BEARINGS ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 8 -
1.14
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.15
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
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
25
22
QUALITY BEARINGS ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
3
Intangible fixed assets
Website development costs
£
Cost
At 1 April 2024
-
0
Additions
37,830
At 31 March 2025
37,830
Amortisation and impairment
At 1 April 2024
-
0
Amortisation charged for the year
6,104
At 31 March 2025
6,104
Carrying amount
At 31 March 2025
31,726
At 31 March 2024
-
0
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
84,962
308,014
493,139
886,115
Additions
-
0
8,157
238,395
246,552
At 31 March 2025
84,962
316,171
731,534
1,132,667
Depreciation and impairment
At 1 April 2024
13,211
107,882
90,268
211,361
Depreciation charged in the year
8,496
41,658
93,680
143,834
Impairment losses
-
0
-
0
36,992
36,992
At 31 March 2025
21,707
149,540
220,940
392,187
Carrying amount
At 31 March 2025
63,255
166,631
510,594
740,480
At 31 March 2024
71,751
200,132
402,871
674,754
QUALITY BEARINGS ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
264,597
189,407
Amounts owed by group undertakings
258,207
232,741
Other debtors
427,263
466,186
950,067
888,334
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
1,103,123
1,056,028
Corporation tax
2,024
91,447
Other taxation and social security
32,277
18,848
Other creditors
254,973
94,269
1,402,397
1,270,592

Included in other creditors are net obligations under finance lease and hire purchase contracts which are secured against the assets to which they relate £96,667 (202 4 - £62,404).

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,667
11,667
Other creditors
322,557
226,782
324,224
238,449

Included in other creditors are net obligations under finance lease and hire purchase contracts which are secured against the assets to which they relate £322,557 (202 4 - £226,782).

QUALITY BEARINGS ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Other operating leases
184,800
277,200
9
Related party transactions

The company has availed of the exemption provided in FRS 102 section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the company is a wholly owned member.

10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
Mr D Maude - Loan
2.25
85,600
1,115
(70,000)
16,715
Mr S B Riley - Loan
2.25
105,600
2,401
-
108,001
191,200
3,516
(70,000)
124,716
11
Parent company

The company's immediate parent is QBOL Group Limited, incorporated in England and Wales.

The address of its registered office is:

Unit 2/3 Geldard Park, 98 Geldard Road, Leeds, LS12 6HJ.

The ultimate controlling party are the directors of QBOL Group Limited.

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