Quist Limited - Accounts to registrar (filleted) - small 18.2

Quist Limited - Accounts to registrar (filleted) - small 18.2

QUIST LIMITED - Company Information

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REGISTERED NUMBER: 04145280 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 March 2020

for

Quist Limited
Quist Limited (Registered number: 04145280)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Quist Limited

Company Information
for the Year Ended 31 March 2020







DIRECTOR: M Tafreshi





REGISTERED OFFICE: Hallings Hatch
Parkgate Road
Newdigate
Dorking
RH5 5DY





REGISTERED NUMBER: 04145280 (England and Wales)





ACCOUNTANTS: Reed Accounts & Tax Limited
Chartered Accountant & Statutory Auditor
Hallings Hatch
Parkgate Road
Dorking
Surrey
RH5 5DY
Page 1
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Quist Limited

The following reproduces the text of the report prepared for the director in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act
2006, the company is only required to file a Balance Sheet. Readers are cautioned that the
Abridged Income Statement and certain other primary statements and the Report of the
Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for
your approval the financial statements of Quist Limited for the year ended 31 March 2020 which
comprise the Abridged Statement of Income and Retained Earnings, Abridged Balance Sheet and
the related notes from the company's accounting records and from information and explanations
you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Quist Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quist Limited and state those matters that we have agreed to state to the director of Quist Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quist Limited and its director for our work or for this report.

It is your duty to ensure that Quist Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quist Limited. You consider that Quist Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Quist Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Reed Accounts & Tax Limited
Chartered Accountant & Statutory Auditor
Hallings Hatch
Parkgate Road
Dorking
Surrey
RH5 5DY


30 December 2020

This page does not form part of the statutory financial statements

Page 2
Quist Limited (Registered number: 04145280)

Abridged Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 287,282 299,558

CURRENT ASSETS
Stocks 22,000 21,250
Debtors 33,039 110,675
Cash at bank 293,962 80,779
349,001 212,704
CREDITORS
Amounts falling due within one year 193,888 79,647
NET CURRENT ASSETS 155,113 133,057
TOTAL ASSETS LESS CURRENT
LIABILITIES
442,395
432,615

CREDITORS
Amounts falling due after more than
one year
5
166,429
189,540
NET ASSETS 275,966 243,075

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 275,766 242,875
SHAREHOLDERS' FUNDS 275,966 243,075

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 director acknowledges his 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 notes form part of these financial statements

Page 3 continued...
Quist Limited (Registered number: 04145280)

Abridged Balance Sheet - continued
31 March 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 29 December 2020 and were signed by:





M Tafreshi - Director


The notes form part of these financial statements

Page 4
Quist Limited (Registered number: 04145280)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

Quist 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.
Land and buildings - 4% on cost
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement
of Income and Retained Earnings, 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.

Page 5 continued...
Quist Limited (Registered number: 04145280)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2019
and 31 March 2020 366,322
DEPRECIATION
At 1 April 2019 66,764
Charge for year 12,276
At 31 March 2020 79,040
NET BOOK VALUE
At 31 March 2020 287,282
At 31 March 2019 299,558

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
31.3.20 31.3.19
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 60,492 72,063

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.20 31.3.19
£    £   
Bank loans 201,583 224,519

The loans are secured by a charge over the land and buildings at Kingfisher Farm,
Haslemere.
There is a fixed and floating charge over all property and undertakings of the company.

7. RELATED PARTY DISCLOSURES

Included in creditors are amounts due from related parties of £86,572 (2019 £69,789 debit).

8. ULTIMATE CONTROLLING PARTY

The controlling party is M Tafreshi.

The ultimate controlling party is M Tafreshi.

Page 6