QUANTUM PERFORMANCE ENGINEERING LIMITED Accounts filed on 31-10-2013

QUANTUM PERFORMANCE ENGINEERING LIMITED - Company Information

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QUANTUM PERFORMANCE ENGINEERING LIMITED

Company Registration Number:
04943475 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01st November 2012

End date: 31st October 2013

SUBMITTED

Company Information
for the Period Ended 31st October 2013

Director:		Jonathan Saunders
		Benjamin Leach






Registered office:		5 St. James Meadow Road


		Leamington Spa
		Warwickshire
		CV32 6BZ




Company Registration Number:		04943475 (England and Wales)

Abbreviated Balance sheet
As at 31st October 2013

	Notes	2013 £	2012 £
Fixed assets
Tangible assets:	2	6,144	8,992
Total fixed assets:		6,144	8,992
Current assets
Stocks:		5,200	5,200
Cash at bank and in hand:		20,132	28,253
Total current assets:		25,332	33,453
Creditors
Net current assets (liabilities):		25,332	33,453
Total assets less current liabilities:		31,476	42,445
Total net assets (liabilities):		31,476	42,445

The notes form part of these financial statements

Abbreviated Balance sheet
As at 31st October 2013
continued

	Notes	2013 £	2012 £
Capital and reserves
Called up share capital:	3	14,282	21,785
Profit and Loss account:		17,194	20,660
Total shareholders funds:		31,476	42,445

For the year ending 31 October 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 21 July 2014

SIGNED ON BEHALF OF THE BOARD BY:

Name: Jonathan Saunders
Status: Director

The notes form part of these financial statements

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2013

1. Accounting policies

Basis of measurement and preparation of accounts

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

Turnover policy

The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT

Tangible fixed assets depreciation policy

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Plant and Machinery (incl hand tools and equipment) - 20% on cost, Motor vehicle - 20% on cost, Computer equipment -50% on cost

Intangible fixed assets amortisation policy

Intangible fixed assets are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, which in the case of high technology Engine Management kits sold into the aftermarket where reverse engineering and plagiarism is rife, is considered to be one year. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable

Valuation information and policy

Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads

Other accounting policies

Research and Development Expenditure on research and development is written off in the year in which it is incurred.

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2013

2. Tangible assets

	Total
Cost	£
At 01st November 2012:	8,992
At 31st October 2013:	8,992
Depreciation
Charge for year:	2,848
At 31st October 2013:	2,848
Net book value
At 31st October 2013:	6,144
At 31st October 2012:	8,992

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Notes to the Abbreviated Accounts
for the Period Ended 31st October 2013

3. Called up share capital

Allotted, called up and paid

Previous period			2012
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	5	4,357.10 4,357.10	21,785
Total share capital:			21,785

Current period			2013
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	5	2,856.40 2,856.40	14,282
Total share capital:			14,282

QUANTUM PERFORMANCE ENGINEERING LIMITED Accounts filed on 31-10-2013