132 Queens Road Limited - Accounts to registrar (filleted) - small 18.2

132 Queens Road Limited - Accounts to registrar (filleted) - small 18.2

132 QUEENS ROAD LIMITED - Company Information

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REGISTERED NUMBER: 08372815 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

132 QUEENS ROAD LIMITED
132 QUEENS ROAD LIMITED (REGISTERED NUMBER: 08372815)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


132 QUEENS ROAD LIMITED

COMPANY INFORMATION
for the year ended 31 January 2018







DIRECTOR: N S Darke





REGISTERED OFFICE: Griffins Court
24-32 London Road
NEWBURY
Berkshire
RG14 1JX





REGISTERED NUMBER: 08372815 (England and Wales)





ACCOUNTANTS: Wilkins Kennedy
Accountants
Griffins Court
24-32 London Road
NEWBURY
Berkshire
RG14 1JX
Page 1
132 QUEENS ROAD LIMITED (REGISTERED NUMBER: 08372815)

BALANCE SHEET
31 January 2018

2018 2017
Notes £    £   
CURRENT ASSETS
Stocks 893,102 433,309
Debtors 4 7,541 17,274
Cash at bank 71,408 10,810
972,051 461,393
CREDITORS
Amounts falling due within one year 5 939,755 427,003
NET CURRENT ASSETS 32,296 34,390
TOTAL ASSETS LESS CURRENT
LIABILITIES
32,296
34,390

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 32,196 34,290
SHAREHOLDERS' FUNDS 32,296 34,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 23 October 2018 and were signed by:





N S Darke - Director


The notes form part of these financial statements

Page 2
132 QUEENS ROAD LIMITED (REGISTERED NUMBER: 08372815)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2018

1. STATUTORY INFORMATION

132 Queens Road 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 the provisions of Section 1A "Small Entities" 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 cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the
nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies
have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that
affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues
and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those
estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts
recognised in the financial statements.

Revenue recognition
The key judgements made by management in respect of revenue is the point at which that revenue should be recognised.
Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which
to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer.

Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The
actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual
value assessment consider issues such as the remaining life of the asset and the projected disposal value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.
Turnover relates to the sales within the UK market. The policies adopted for the recognition of turnover are as follows:

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the
service is performed.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or
past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that
have been enacted or substantively enacted by the balance sheet date.


Page 3 continued...
132 QUEENS ROAD LIMITED (REGISTERED NUMBER: 08372815)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2018

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of
current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing
differences are differences between taxable profits and total comprehensive income as stated in the financial statements
that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are
recognised in the financial statements. 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
profit.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance
sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable
tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the
asset.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet
date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of
transaction. Exchange differences are taken into account in arriving at the operating result.

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

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction
price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the report date as a result of a past
event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be
reliably estimated.
Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Impairments
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet
date. If such indication exists, the recoverable amount of the asset, or asset's cash generating unit, is estimated and
compared to its carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is
recognised in the profit and loss, unless it's carried at a revalued amount, where the impairment loss is a revaluation
decrease.

Short-term employees benefits
Short-term employees' benefits are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

Page 4 continued...
132 QUEENS ROAD LIMITED (REGISTERED NUMBER: 08372815)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2018

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 7,423 7,423
Tax - 336
VAT 118 7,320
Prepayments - 2,195
7,541 17,274

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other loans 400,000 400,000
Trade creditors 243 53
Other creditors 512,562 -
Accrued expenses 26,950 26,950
939,755 427,003

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary £1 100 100

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in debtors at the year end date is an amount due from a company under the control of key management
personnel of £7,423 (2017: £7,423).

Page 5