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Quality Home Improvements NW Ltd
|
Registered Number
:
06050655
|
For the year ended 31 March 2017
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 March 2017
Quality Home Improvements NW Ltd
Contents Page
2
Directors' Report
3
Independent Accountants' Report
4
Statement of Income and Retained Earnings
5
Statement of Financial Position
6 to 8
Notes to the Financial Statements
9
Trading and Profit and Loss Account
3
For the year ended 31 March 2017
Quality Home Improvements NW Ltd
Company Information
Mr JP Reece
Directors
Mrs JE Reece
06050655
249 Crankwood Road
Abram
Wigan
Lancashire
WN2 5YB
Bridgeman Accountants Ltd
Accountants
23 Bridgeman Terrace
Wigan
WN1 1SX
1 of 8
4
For the year ended 31 March 2017
Quality Home Improvements NW Ltd
Directors' Report
The directors present their report and accounts for the year ended 31 March 2017.
The principal activity of the company continued to be that of building contractors.
Directors
The directors who served the company throughout the year were as follows:
Mr JP Reece
Mrs JE Reece
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
|
14 July 2017
2 of 8
5
For the year ended 31 March 2017
Quality Home Improvements NW Ltd
Independent Accountants' Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year
|
ended
31
March
2017
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
13 July 2017
3 of 8
6
For the year ended 31 March 2017
Quality Home Improvements NW Ltd
Statement of Income and Retained Earnings
2016
2017
332,255
282,799
(187,062)
(203,566)
95,737
Gross profit
128,689
(68,166)
(57,687)
Operating profit
60,523
38,050
Other interest receivable and similar income
|
23
21
60,546
38,071
Profit before taxation
(12,623)
(8,021)
47,923
Profit for the financial year
30,050
Retained earnings at
01
April
2016
|
351
301
Dividends paid and payable for the year
|
(48,000)
(30,000)
Retained earnings at
31
March
2017
|
274
351
4 of 8
7
Quality Home Improvements NW Ltd
Statement of Financial Position
2016
2017
-
2,400
2
Property
,
plant and equipment
|
387
558
3
387
2,958
3,392
3,600
Trade and other receivables
|
12,709
8,298
4
8,044
Cash and cash equivalents
|
10,011
21,909
24,145
Trade and other payables
:
amounts falling due within one year
|
(26,750)
(22,020)
5
(2,605)
(111)
Net current liabilities
Total assets less current liabilities
|
276
353
276
Net assets
353
2
2
274
351
276
353
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
|
These financial statements were approved and authorised for issue by the Board on 14 July 2017 and were signed by:
|
The notes form part of these financial statements
|
5 of 8
8
For the year ended 31 March 2017
Quality Home Improvements NW Ltd
Notes to the Financial Statements
Statutory Information
Quality Home Improvements NW Ltd is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
|
registration number
06050655
.
|
249 Crankwood Road
Abram
Wigan
Lancashire
WN2 5YB
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 0 years.
|
Property, plant and equipment
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
Inventories
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.
|
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.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
6 of 8
9
For the year ended 31 March 2017
Quality Home Improvements NW Ltd
Notes to the Financial Statements Continued
2
.
Intangible fixed assets
|
Goodwill
24,000
24,000
21,600
2,400
Charge for year
24,000
-
2,400
3
.
Property
,
plant and equipment
|
Motor vehicles
3,239
939
1,575
725
725
1,575
939
3,239
Provision for depreciation and impairment
|
2,681
554
1,457
670
Charge for year
171
127
30
14
2,852
681
1,487
684
41
88
258
387
55
118
385
558
4
.
Trade and other receivables
|
2016
2017
-
4,490
8,298
8,219
12,709
8,298
7 of 8
10
For the year ended 31 March 2017
Quality Home Improvements NW Ltd
Notes to the Financial Statements Continued
5
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
274
4,374
3,027
7,008
Taxation and social security
|
17,594
14,268
1,125
1,100
22,020
26,750
6
.
Directors advances and guarantees
|
Repaid
Loaned
Mr JP Reece
The following loan subsisted during the year and was fully repaid after the year end
|
4,149
4,110
4,149
4,110
4,149
4,110
4,149
4,110
Mrs JE Reece
The following loan subsisted during the year and was fully repaid after the year end
|
4,149
4,109
4,149
4,109
4,149
4,109
4,149
4,109
8 of 8