Quindale Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02472617 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2014

for

Quindale Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr A Rose

Mrs M J S Rose

REGISTERED OFFICE:

7A Knivet Close

Rayleigh

Essex

SS6 8PD

REGISTERED NUMBER:

02472617 (England and Wales)

ACCOUNTANTS:

Brooms

Brooms Professional Services Limited

Chartered Certified Accountants

Broom House

39/43 London Road

Hadleigh, Benfleet

Essex

SS7 2QL

BANKERS:

Barclays Bank PLC

PO Box 13

63/65 High Street

Rayleigh

Essex

SS6 7EL

FIXED ASSETS

Tangible assets

2

445,661

480,879

CURRENT ASSETS

Debtors

937

1,128

Cash at bank

4,658

7,223

5,595

8,351

CREDITORS

Amounts falling due within one year

3

129,410

131,484

NET CURRENT LIABILITIES

(123,815

)

(123,133

)

TOTAL ASSETS LESS CURRENT LIABILITIES

321,846

357,746

CAPITAL AND RESERVES

Called up share capital

4

2

2

Revaluation reserve

252,451

287,451

Profit and loss account

69,393

70,293

SHAREHOLDERS' FUNDS

321,846

357,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 April 2015 and were signed on its behalf by:

Mr A Rose - Director

Mrs M J S Rose - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net consultancy fees and rent receivable.

Tangible fixed assets

Investment properties are treated in accordance with SSAP 19 and are therefore not depreciated. Fixtures &

fittings and Equipment are depreciated at 25% on a reducing balance basis.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

Investment properties

In accordance with SSAP 19 investment properties are revalued annually and the aggregate surplus or deficit is

transferred to a revaluation reserve. No depreciation is provided in respect of investment properties. The

Companies Act requires all properties to be depreciated. However, this requirement conflicts with the generally

accepted accounting principle set out in SSAP 21. The directors consider that because these properties are not

held for consumption but for their investment potential, to depreciate them would not give a true and fair view

and that it is necessary to adopt SSAP 19 in order to give a true and fair view. If this departure from the Act had

not been made, the profit for the year would have been reduced by depreciation. However, the amount of

depreciation cannot reasonably be quantified because it is only one of many factors reflected in the annual

valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 August 2013

490,235

Revaluations

(35,000

)

At 31 July 2014

455,235

DEPRECIATION

At 1 August 2013

9,356

Charge for year

218

At 31 July 2014

9,574

NET BOOK VALUE

At 31 July 2014

445,661

At 31 July 2013

480,879

3.

CREDITORS

Creditors include an amount of £ 105 (31.7.13 - £ 220 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

2

Ordinary

£1

2

2