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QUARTERMASTER SUPPLIES LTD
REGISTERED NUMBER: 07560913
ABBREVIATED BALANCE SHEET
AS AT 31 AUGUST 2014
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 August 2014 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 29 April 2015.
The notes on pages 2 to 3 form part of these financial statements.
Page 1
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QUARTERMASTER SUPPLIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2014
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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The company shows net liabilities at the balance sheet date of £87,746 (2013: £56,705) and is dependent upon the continued financial support of its director who has given assurances that he will not seek repayment of loans made to the company until such time as the company can repay them and will provide additional support, where required, to enable the company to meet its obligations as they fall due.
On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include adjustments that would result from the withdrawal of this support.
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Turnover represents net invoiced sales of uniforms for overseas governments, exclusive of Value Added Tax.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the profit and loss account.
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Page 2
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QUARTERMASTER SUPPLIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2014
2.TANGIBLE FIXED ASSETS
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At 1 September 2013 and 31 August 2014
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3.SHARE CAPITAL
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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Page 3
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