Angela_Quayle_Interiors_Ltd_30_Jan_2018_companies_house_set_of_accounts.html
Angela_Quayle_Interiors_Ltd_30_Jan_2018_companies_house_set_of_accounts.html
Company registration number:
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Angela Quayle Interiors Ltd for the year ended 30 January 2018
Year ended 30 January 2018
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Angela Quayle Interiors Ltd for the year ended 30 January 2018 which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Angela Quayle Interiors Ltd , as a body. My work has been undertaken solely to prepare for your approval the financial statements of Angela Quayle Interiors Ltd and state those matters that I have agreed to state to the Board of Directors of Angela Quayle Interiors Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Angela Quayle Interiors Ltd and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that Angela Quayle Interiors Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Angela Quayle Interiors Ltd . You consider that Angela Quayle Interiors Ltd is exempt from the statutory audit requirement for the year.
1a Marsland Road
Sale Moor
Manchester
Cheshire
M33 3HP
United Kingdom
Sale Moor
Manchester
Cheshire
M33 3HP
United Kingdom
Date:
26 October 2018
Statement of Financial Position
| 2018 | 2017 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 5 |
|
|
||
| Current assets | |||||
| Stocks |
|
|
|||
| Debtors | 6 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: amounts falling due within one year | 7 |
(
|
) |
(
|
) |
| Net current liabilities |
(
|
) |
(
|
) | |
| Total assets less current liabilities | (63,976 | ) | (50,068 | ) | |
| Capital and reserves | |||||
| Called up share capital |
|
|
|||
| Profit and loss account |
(
|
) |
(
|
) | |
| Shareholders deficit |
(
|
) |
(
|
) | |
For the year ending 30 January 2018 , the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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.
These financial statements were approved by the board of directors and authorised for issue on 26 October 2018 , and are signed on behalf of the board by:
| Director |
Company registration number:
08830347
Notes to the Financial Statements
Year ended 30 January 2018
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 45a Oxford Road , Altrincham , WA14 2ED , United Kingdom.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Plant and machinery |
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4 Average number of employees
The average number of persons employed by the company during the year was 1 (2017: 1 ).
5 Tangible assets
| Plant and machinery etc. | ||
|---|---|---|
| £ | ||
| Cost | ||
| At |
|
|
| Disposals |
(
|
) |
| At |
|
|
| Depreciation | ||
| At |
|
|
| Charge |
|
|
| Disposals |
(
|
) |
| At |
|
|
| Carrying amount | ||
| At |
|
|
| At 30 January 2017 |
|
|
6 Debtors
| 2018 | 2017 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade debtors | - |
|
||
| Other debtors |
|
|
||
|
|
|
|||
7 Creditors: amounts falling due within one year
| 2018 | 2017 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade creditors |
|
|
||
| Taxation and social security |
|
|
||
| Other creditors |
|
|
||
|
|
|
|||
8 Controlling party
During the year ended 30 January 2018, Mrs Quayle, the director, controlled the company by virtue of a controlling interest of 100% of the issued ordinary share capital.