Quay Property Cornwall Limited - Period Ending 2018-09-30

Quay Property Cornwall Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 September 2018

Registration number: 08472021

Quay Property Cornwall Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 6

Quay Property Cornwall Limited

Company Information

Directors

K M Derry Mrs S Derry

Registered office

Lowin House Tregolls Road Truro Cornwall TR1 2NA

Accountants

Francis Clark LLP Lowin House Tregolls Road Truro Cornwall TR1 2NA

Page 1

Quay Property Cornwall Limited

Balance Sheet

30 September 2018

	Note	2018 £	2017 £
Current assets
Debtors	3	207	-
Cash at bank and in hand		20,529	15,129
		20,736	15,129
Creditors: Amounts falling due within one year	4	(9,511)	(3,575)
Net assets		11,225	11,554
Capital and reserves
Called up share capital		100	100
Profit and loss account		11,125	11,454
Total equity		11,225	11,554

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 2

Quay Property Cornwall Limited

Balance Sheet

30 September 2018

For the financial year ending 30 September 2018 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 May 2019 and signed on its behalf by:
 

......................................... Mrs S Derry Director

Company Registration Number: 08472021

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

Quay Property Cornwall Limited

Notes to the Financial Statements

Year Ended 30 September 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

The principal place of business is:
1 The Linhay
Higher Lane
Egloshayle
Wadebridge
Cornwall
PL27 6HW

These financial statements were authorised for issue by the Board on 20 May 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 4

Quay Property Cornwall Limited

Notes to the Financial Statements

Year Ended 30 September 2018

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.




 

3

Debtors

	2018  £	2017  £
Other debtors	207	-
	207	-

4

Creditors

Creditors: amounts falling due within one year

	2018  £	2017  £
Due within one year
Other creditors	6,768	904
Accrued expenses	474	462
Corporation tax	2,269	2,209
	9,511	3,575

Page 5

Quay Property Cornwall Limited

Notes to the Financial Statements

Year Ended 30 September 2018

5	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Page 6