Quaystone Projects Limited - Accounts to registrar (filleted) - small 18.2

Quaystone Projects Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 10084455(England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

QUAYSTONE PROJECTS LIMITED

QUAYSTONE PROJECTS LIMITED (REGISTERED NUMBER: 10084455)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUAYSTONE PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DIRECTORS: D A James
Mrs LGE James





REGISTERED OFFICE: Unit 3 Shelley Farm
Shelley Lane
Ower
Romsey
Hampshire
SO51 6AS





REGISTERED NUMBER: 10084455(England and Wales)





ACCOUNTANTS: Buckleys
Chartered Accountants
Unit 3, Shelley Farm
Shelley Lane
Ower
Romsey
Hampshire
SO51 6AS

QUAYSTONE PROJECTS LIMITED (REGISTERED NUMBER: 10084455)

BALANCE SHEET
31 MARCH 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,962 53,100

CURRENT ASSETS
Stocks 94,933 -
Debtors 5 488,310 254,768
Cash at bank 358,413 48,386
941,656 303,154
CREDITORS
Amounts falling due within one year 6 772,696 191,753
NET CURRENT ASSETS 168,960 111,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,922

164,501

CREDITORS
Amounts falling due after more than
one year

7

19,961

11,645
NET ASSETS 234,961 152,856

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 234,761 152,656
234,961 152,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

QUAYSTONE PROJECTS LIMITED (REGISTERED NUMBER: 10084455)

BALANCE SHEET - continued
31 MARCH 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on
13 August 2020and were signed on its behalf by:





D A James- Director


QUAYSTONE PROJECTS LIMITED (REGISTERED NUMBER: 10084455)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020


1. STATUTORY INFORMATION

Quaystone Projects Limited is a private company, limited by shares, registered in England and
Wales. The company's registered number and registered office address can be found on the
Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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, excluding
discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and
handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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 balance sheet date.


QUAYSTONE PROJECTS LIMITED (REGISTERED NUMBER: 10084455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet 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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6(2019 - 5) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2019 39,783 35,378 3,722 78,883
Additions 52,811 - 3,822 56,633
At 31 March 2020 92,594 35,378 7,544 135,516
DEPRECIATION
At 1 April 2019 9,935 13,947 1,901 25,783
Charge for year 16,532 5,358 1,881 23,771
At 31 March 2020 26,467 19,305 3,782 49,554
NET BOOK VALUE
At 31 March 2020 66,127 16,073 3,762 85,962
At 31 March 2019 29,848 21,431 1,821 53,100

QUAYSTONE PROJECTS LIMITED (REGISTERED NUMBER: 10084455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade debtors 411,397 180,280
Other debtors 7,479 4,767
Directors' current accounts 68,111 68,904
Prepayments and accrued income 1,323 817
488,310 254,768

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Hire purchase contracts 14,207 24,781
Trade creditors 291,206 117,813
Corporation tax 30,960 19,782
Social security and other taxes 6,966 6,678
Pensions 473 -
VAT 49,486 16,821
Other creditors 2,435 4,260
Accrued expenses 376,963 1,618
772,696 191,753

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.20 31.3.19
£    £   
Hire purchase contracts 19,961 11,645