Queensgate Associates Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 07164363 (England and Wales)

QUEENSGATE ASSOCIATES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C G Tolley

S M Tolley

REGISTERED OFFICE:

8 Church Green East

Redditch

Worcestershire

B98 8BP

REGISTERED NUMBER:

07164363 (England and Wales)

ACCOUNTANTS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Tangible assets

2

262,669

53,083

CURRENT ASSETS

Stocks

520,105

145,477

Debtors

61,655

22,235

Cash at bank and in hand

27,873

9,817

609,633

177,529

CREDITORS

Amounts falling due within one year

3

596,458

185,659

NET CURRENT ASSETS/(LIABILITIES)

13,175

(8,130

)

TOTAL ASSETS LESS CURRENT LIABILITIES

275,844

44,953

CREDITORS

Amounts falling due after more than one year

3

(141,132

)

-

PROVISIONS FOR LIABILITIES

(30,000

)

-

NET ASSETS

104,712

44,953

CAPITAL AND RESERVES

Called up share capital

4

4

2

Profit and loss account

104,708

44,951

SHAREHOLDERS' FUNDS

104,712

44,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 8 January 2016 and were signed on its behalf by:

S M Tolley - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

73,075

Additions

227,283

At 31 March 2015

300,358

DEPRECIATION

At 1 April 2014

19,992

Charge for year

17,697

At 31 March 2015

37,689

NET BOOK VALUE

At 31 March 2015

262,669

At 31 March 2014

53,083

3.

CREDITORS

Creditors include an amount of £ 394,817 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

2

Ordinary

£1

4

2