Registration number:
for the Year Ended
Quality Motor Company
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Quality Motor Company
Company Information
Director |
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Registered office |
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Accountants |
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Quality Motor Company
Director's Report for the Year Ended 30 September 2014
The director presents his report and the unaudited financial statements for the year ended 30 September 2014.
Director of the company
The director who held office during the year was as follows:
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board on
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Mr Mohammed Shahid Malik
Director
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Quality Motor Company
for the Year Ended 30 September 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Quality Motor Company for the year ended 30 September 2014 set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Quality Motor Company, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Quality Motor Company and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quality Motor Company and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Quality Motor Company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Quality Motor Company. You consider that Quality Motor Company is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Quality Motor Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Sujatha Renganathan -AIMS Accountants for Business
Chartered Certified Accountant
167 Kenmore Avenue
HA3 8PB
24 June 2015
Quality Motor Company
Profit and Loss Account for the Year Ended 30 September 2014
Note |
2014
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2013
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Turnover |
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Cost of sales |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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Interest payable and similar charges |
- |
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Profit on ordinary activities before taxation |
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Profit for the financial year |
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4
Quality Motor Company
(Registration number: 07018433)
Balance Sheet at 30 September 2014
Note |
2014
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2013
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Fixed assets |
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Intangible fixed assets |
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Tangible fixed assets |
- |
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Current assets |
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Stocks |
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Debtors |
- |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds/(deficit) |
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( |
Approved and authorised for issue by the director on
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Quality Motor Company
(Registration number: 07018433)
Balance Sheet at 30 September 2014
......... continued
.........................................
Mr Mohammed Shahid Malik
Director
6
Quality Motor Company
Notes to the Financial Statements for the Year Ended 30 September 2014
......... continued
Accounting policies |
Basis of preparation
Turnover
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Office equipment |
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Stock
Hire purchase and leasing
Financial instruments
Quality Motor Company
Notes to the Financial Statements for the Year Ended 30 September 2014
......... continued
Operating profit |
Operating profit is stated after charging:
2014
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2013
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Depreciation of tangible fixed assets |
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- |
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Amortisation |
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- |
Director's remuneration |
The director's remuneration for the year was as follows:
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2013
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Remuneration |
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Intangible fixed assets |
Goodwill
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Total
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Cost |
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At 1 October 2013 |
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At 30 September 2014 |
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Amortisation |
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At 1 October 2013 |
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Charge for the year |
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At 30 September 2014 |
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Net book value |
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At 30 September 2014 |
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At 30 September 2013 |
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Quality Motor Company
Notes to the Financial Statements for the Year Ended 30 September 2014
......... continued
Tangible fixed assets |
Office equipment
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Total
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Cost or valuation |
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At 1 October 2013 |
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Depreciation |
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At 1 October 2013 |
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Charge for the year |
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At 30 September 2014 |
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Net book value |
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At 30 September 2014 |
- |
- |
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At 30 September 2013 |
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Debtors |
2014
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2013
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Other debtors |
- |
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Creditors: Amounts falling due within one year |
2014
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2013
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Trade creditors |
- |
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Bank loans and overdrafts |
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Other taxes and social security |
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- |
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Other creditors |
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Creditors: Amounts falling due after more than one year |
2014
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2013
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Trade creditors |
- |
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Quality Motor Company
Notes to the Financial Statements for the Year Ended 30 September 2014
......... continued
Share capital |
Allotted, called up and fully paid shares
2014 |
2013 |
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No. |
£ |
No. |
£ |
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Reserves |
Profit and loss account
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Total
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At 1 October 2013 |
(16,983) |
(16,983) |
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Profit for the year |
22,245 |
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At 30 September 2014 |
5,262 |
5,262 |
Control |
The company is controlled by the director who owns 100% of the called up share capital.