TQ360_LIMITED - Accounts

TQ360_LIMITED - Accounts

TQ360 LIMITED - Company Information

Print Friendly Version

Company Registration No. SC413670 (Scotland)
TQ360 LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
TQ360 LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
TQ360 LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
294,955
-
Investments
2
663,250
659,950
958,205
659,950
Current assets
Debtors
3
707,171
664,993
Cash at bank and in hand
145,074
104,360
852,245
769,353
Creditors: amounts falling due within one year
(971,511)
(705,504)
Net current liabilities/(assets)
(119,266)
63,849
Total assets less current liabilities
838,939
723,799
Provisions for liabilities
(58,991)
-
779,948
723,799
Capital and reserves
Called up share capital
4
2
2
Profit and loss account
779,946
723,797
Shareholders'  funds
779,948
723,799
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 29 September 2016
Dr Paul Wallace
Director
Company Registration No. SC413670
TQ360 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Labatory Equipment
Land and buildings Leasehold
Plant and machinery
33% Reducing Balance
Computer equipment
25% Reducing Balance
Fixtures, fittings & equipment
25% Reducing Balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Pensions
1.8
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006  not to prepare group accounts.
TQ360 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2015
-
659,950
659,950
Additions
415,623
3,300
418,923
At 31 December 2015
415,623
663,250
1,078,873
Depreciation
At 1 January 2015
-
-
-
Charge for the year
120,668
-
120,668
At 31 December 2015
120,668
-
120,668
Net book value
At 31 December 2015
294,955
663,250
958,205
At 31 December 2014
-
659,950
659,950
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Qnostics Limited
UK
Ordinary
100.00
QCMD
UK
Guarantee
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Qnostics Limited
Development and manufacture of specialised molecular materials
949,521
63,217
QCMD
Development and manufacture of specialised molecular materials
904,826
84,106

 

QCMD, a company limited by guarantee, is part of the group and under the common control of the directors.

TQ360 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
3
Debtors
Debtors include an amount of £170,000 (2014 - £386,811) which is due after more than one year.
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary Shares of £1 each
2
2
2015-12-312015-01-01falsetruetruetruetruetruetmpA8A4.html2016-09-30SC4136702015-01-012015-12-31SC4136702015-12-31SC4136702014-12-31SC4136702014-12-31SC413670uk-bus:Director22015-01-012015-12-31SC413670uk-gaap:PlantMachinery2015-01-012015-12-31SC413670uk-gaap:ComputerEquipment2015-01-012015-12-31SC413670uk-gaap:FixturesFittingsToolsEquipment2015-01-012015-12-31SC413670uk-gaap:Subsidiary12015-01-012015-12-31SC413670uk-gaap:Subsidiary22015-01-012015-12-31SC413670uk-gaap:Subsidiary12015-12-31SC413670uk-gaap:Subsidiary22015-12-31SC413670uk-bus:OrdinaryShareClass12015-01-012015-12-31SC413670uk-bus:OrdinaryShareClass12015-12-31SC413670uk-bus:OrdinaryShareClass12014-12-31xbrli:purexbrli:sharesiso4217:GBP