Quality Control Solutions Limited Filleted accounts for Companies House (small and micro)

QUALITY CONTROL SOLUTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03685281

Quality Control Solutions Limited

Filleted Unaudited Financial Statements

31 December 2017

Quality Control Solutions Limited

Financial Statements

Year ended 31 December 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Quality Control Solutions Limited

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£	£

Current assets

Debtors	6	30,569	23,912
Cash at bank and in hand		20,251	64,476
		--------	--------
		50,820	88,388

Creditors: amounts falling due within one year	7	41,033		63,891
		--------		--------
Net current assets			9,787		24,497
			-------		--------
Total assets less current liabilities			9,787		24,497
			-------		--------
Net assets			9,787		24,497
			-------		--------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		9,687	24,397
		-------	--------
Shareholders funds		9,787	24,497
		-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 August 2018 , and are signed on behalf of the board by:

N W Sullivan Director

Company registration number: 03685281

Quality Control Solutions Limited

Notes to the Financial Statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Church Green East, Redditch, Worcestershire, B98 8BT. The place of business is 4a Fosseway Business Park, Stratford Road, Moreton in Marsh, Gloucestershire, GL56 9NQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents the fair value of services provided to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	100% straight line

Financial instruments

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

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2016: 3 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2017	14,598	14,598
Additions	1,516	1,516
	--------	--------
At 31 December 2017	16,114	16,114
	--------	--------
Depreciation
At 1 January 2017	14,598	14,598
Charge for the year	1,516	1,516
	--------	--------
At 31 December 2017	16,114	16,114
	--------	--------
Carrying amount
At 31 December 2017	–	–
	--------	--------
At 31 December 2016	–	–
	--------	--------

6. Debtors

	2017	2016
	£	£
Trade debtors	26,275	22,166
Other debtors	4,294	1,746
	--------	--------
	30,569	23,912
	--------	--------

The debtors above include the following amounts falling due after more than one year:

	2017	2016
	£	£
Other debtors	260	317
	----	----

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	5,332	2,737
Social security and other taxes	14,581	22,912
Other creditors	21,120	38,242
	--------	--------
	41,033	63,891
	--------	--------

8. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

9. Director's advances, credits and guarantees

During the year the company made advances to directors totalling £ 2,567 . Repayments of £nil were made during the year. The balance at the year end was £ 2,567 . The advances were made interest free and are repayable on demand.