REGISTERED NUMBER: 10084455 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

QUAYSTONE PROJECTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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.

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 2020 and were signed on its behalf by:

D A James - Director

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.

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

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