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REGISTERED NUMBER: SC532445 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 13 APRIL 2016 TO 31 MARCH 2017

FOR

QUALITY FINISH LTD

QUALITY FINISH LTD (REGISTERED NUMBER: SC532445)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 13 APRIL 2016 TO 31 MARCH 2017










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


QUALITY FINISH LTD

COMPANY INFORMATION
FOR THE PERIOD 13 APRIL 2016 TO 31 MARCH 2017







DIRECTOR: Przemyslaw Cichomski





REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT





BUSINESS ADDRESS: 39 Tambowie Street
Glasgow
G13 1BD





REGISTERED NUMBER: SC532445 (Scotland)





ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT

QUALITY FINISH LTD (REGISTERED NUMBER: SC532445)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2017

Notes £    £   
FIXED ASSETS
Intangible assets 4 9,900

CREDITORS
Amounts falling due within one year 5 9,816
NET CURRENT LIABILITIES (9,816 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

84

CAPITAL AND RESERVES
Called up share capital 2
Retained earnings 82
84

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 7 July 2017 and were signed by:





Przemyslaw Cichomski - Director


QUALITY FINISH LTD (REGISTERED NUMBER: SC532445)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 13 APRIL 2016 TO 31 MARCH 2017


1. STATUTORY INFORMATION

Quality Finish Ltd is a private company, limited by shares , registered in Scotland. The company's registered
number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value
added tax. Turnover includes revenue earned from the rendering of services, namely decorating services.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the
outcome of a contract cannot be estimated reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised
immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate
of its recoverable amount, but not in excess of the amount that would have been determined had no impairment
loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the
income statement.

QUALITY FINISH LTD (REGISTERED NUMBER: SC532445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 13 APRIL 2016 TO 31 MARCH 2017


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective
interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in
liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost
using the effective interest method.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the income statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the
timing difference.

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.

Provision for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in
the current period, and which employees are entitled to carry forward and use within the next 12 months. The
provision is measured at the salary cost payable for the period of absence.

3. AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the period was 2 .

QUALITY FINISH LTD (REGISTERED NUMBER: SC532445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 13 APRIL 2016 TO 31 MARCH 2017


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 11,000
At 31 March 2017 11,000
AMORTISATION
Amortisation for period 1,100
At 31 March 2017 1,100
NET BOOK VALUE
At 31 March 2017 9,900

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Corporation tax 2,801
PAYE and NIC 402
Director's loan 5,699
Accrued charges 914
9,816

6. RELATED PARTY DISCLOSURES

During the period, the company received an interest free loan from the director amounting to £5,699.