QB Contracts Ltd 28/02/2020 iXBRL
QB Contracts Ltd 28/02/2020 iXBRL
Company registration number:
NI605742
UNAUDITED FILLETED FINANCIAL STATEMENTS
FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2020
_________________________________________________________________________________________
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2020
_________________________________________________________________________________________
Company Information
Directors |
|
|
|
||
|
||
Company number |
|
|
Registered office |
|
|
|
||
|
||
|
||
Business address |
|
|
|
||
|
||
|
||
Accountants |
|
|
15E Molesworth Street | ||
Cookstown | ||
Co Tyrone | ||
BT80 8NX | ||
Bankers |
|
|
PO Box 183 | ||
Donegal Square West | ||
Belfast | ||
BT1 6JS | ||
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF QB CONTRACTS LTD (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2020
________________________________________________________________________________________
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of QB Contracts Ltd for the year ended 28 February 2020 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of QB Contracts Ltd, as a body, in accordance with the terms of our engagement letter dated 8 February 2021. Our work has been undertaken solely to prepare for your approval the financial statements of QB Contracts Ltd and state those matters that we have agreed to state to the board of directors of QB Contracts Ltd as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than QB Contracts Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that QB Contracts Ltd 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 QB Contracts Ltd. You consider that QB Contracts Ltd 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 QB Contracts Ltd. 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.
Chartered Accountants
15E Molesworth Street
Cookstown
Co Tyrone
BT80 8NX
26 February 2021
BALANCE SHEET (CONTINUED)
28 FEBRUARY 2020
_________________________________________________________________________________________
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
|
|
||||||
_______ | _______ | ||||||||
|
|
||||||||
Current assets | |||||||||
Stocks |
|
|
|||||||
Debtors | 6 |
|
|
||||||
Cash at bank and in hand |
|
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
Creditors: amounts falling due | |||||||||
within one year | 7 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net current assets/(liabilities) |
|
(
|
|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
|
|
|||||||
Creditors: amounts falling due | |||||||||
after more than one year | 8 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net assets |
|
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
|
|
|||||||
Profit and loss account |
|
|
|||||||
_______ | _______ | ||||||||
Shareholders funds |
|
|
|||||||
_______ | _______ | ||||||||
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 February 2021
, and are signed on behalf of the board by:
Director
Company registration number:
NI605742
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2020
_________________________________________________________________________________________
1.
General information
The company is a private company limited by shares, registered in NI. The address of the registered office is 1 Tandragee Road, Pomeroy, Co Tyrone, BT70 3DS.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery | - |
|
|
|
Impairment
Stocks
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
36
(2019:
33
).
5.
Tangible assets
Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 1 March 2019 |
|
|
|
Additions |
|
|
|
Disposals |
(
|
(
|
|
_______ | _______ | ||
At 28 February 2020 |
|
|
|
_______ | _______ | ||
Depreciation | |||
At 1 March 2019 |
|
|
|
Charge for the year |
|
|
|
_______ | _______ | ||
At 28 February 2020 |
|
|
|
_______ | _______ | ||
Carrying amount | |||
At 28 February 2020 |
|
|
|
_______ | _______ | ||
At 28 February 2019 |
|
|
|
_______ | _______ | ||
6.
Debtors
2020 | 2019 | |||
£ | £ | |||
Trade debtors |
|
|
||
Other debtors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts | - |
|
||
Trade creditors |
|
|
||
Corporation tax |
|
|
||
Other creditors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
8.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Other creditors |
|
|
||
_______ | _______ | |||