Quality Home Improvements NW Ltd
|
For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 06050655
Quality Home Improvements NW Ltd
For the year ended 31 March 2016
1
Accountants' Report
2
Balance Sheet
3 to 5
Notes to the Abbreviated Financial Statements
Quality Home Improvements NW Ltd
Accountants' Report
For the year ended 31 March 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended
31
|
March
2016
and you consider that the company is exempt from an audit under the Companies Act
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you to fulfil
|
your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
Bridgeman Accountants Ltd
23 Bridgeman Terrace
Wigan
WN1 1SX
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Abbreviated Balance Sheet
|
Quality Home Improvements NW Ltd
2016
2015
2
2,400
4,800
3
558
266
2,958
5,066
2,565
3,392
7,165
12,709
8,044
7,149
24,145
16,879
Creditors
:
amounts falling due within one year
|
(21,642)
(26,750)
(4,763)
(2,605)
Net current liabilities
Total assets less current liabilities
|
353
303
353
Net assets
303
2
4
2
351
301
353
303
Shareholders funds
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
|
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
|
Date approved by the board: 09 August 2016
|
Signed on behalf of the board of directors
|
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Notes to the Abbreviated Financial Statements
|
Quality Home Improvements NW Ltd
For the year ended 31 March 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the
|
shareholders prior to the balance sheet date
.
|
Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the estimated
|
expected useful economic life of the goodwill of
0
years
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Computer Equipment
Motor Vehicles
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Notes to the Abbreviated Financial Statements
|
Quality Home Improvements NW Ltd
For the year ended 31 March 2016
Assets on finance lease and hire purchase
|
Assets held under finance lease or hire purchase contracts i
.
e
.
those contracts where substantially all the risks and rewards of
|
ownership have passed to the company
,
are included in the appropriate category of tangible fixed assets and depreciated over the
|
shorter of the lease term and their estimated expected useful lives
.
|
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods
.
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
2
Intangible fixed assets
|
24,000
24,000
19,200
2,400
Charge for year
21,600
2,400
4,800
2,700
539
3,239
2,434
247
Charge for year
2,681
558
266
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Notes to the Abbreviated Financial Statements
|
Quality Home Improvements NW Ltd
For the year ended 31 March 2016
Allotted called up and fully paid
|
2016
2015
2
Ordinary shares of £
1
.
00
each
|
2
2
2
2
Mr JP Reece
The following loan subsisted during the year and was fully repaid after the year end
|
3,583
4,110
3,583
4,110
-
3,583
4,110
3,583
4,110
-
Mrs JE Reece
The following loan subsisted during the year and was fully repaid after the year end
|
3,582
4,109
3,582
4,109
-
3,582
4,109
3,582
4,109
-
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