Quintana Exeter (UK) Limited Filleted accounts for Companies House (small and micro)
Quintana Exeter (UK) Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
10226914
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STATEMENT OF FINANCIAL POSITION |
2019 |
2018 |
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Note |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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– |
Current assets
Debtors |
6 |
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Creditors: amounts falling due within one year |
7 |
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– |
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---- |
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Net current (liabilities)/assets |
(
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Total assets less current liabilities |
(
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---- |
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Net (liabilities)/assets |
(
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Capital and reserves
Called up share capital |
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Profit and loss account |
(
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– |
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---- |
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Shareholders (deficit)/funds |
(
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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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
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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STATEMENT OF FINANCIAL POSITION (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
13 May 2021
, and are signed on behalf of the board by:
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Director |
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Company registration number:
10226914
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 AUGUST 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8a Ship Street, Brighton, East Sussex, BN1 1AD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's holding company and director.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
The director consider that the uncertainty caused in the company's industry as a result of Coronavirus and the restrictions put in place by the government should not materially affect the company's ability to continue as a going concern.
The company may take advantage of the support packages offered by the government, as appropriate and will continue to review and monitor costs as the situation develops.
Revenue recognition
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:
Equipment |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2018: Nil).
5.
Tangible assets
Equipment |
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£ |
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Cost |
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At 1 September 2018 |
– |
Additions |
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---- |
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At 31 August 2019 |
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Depreciation |
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At 1 September 2018 |
– |
Charge for the year |
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---- |
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At 31 August 2019 |
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Carrying amount |
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At 31 August 2019 |
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At 31 August 2018 |
– |
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6.
Debtors
2019 |
2018 |
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£ |
£ |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2019 |
2018 |
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£ |
£ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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– |
Social security and other taxes |
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– |
Other creditors |
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– |
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– |
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8.
Related party transactions
The company is under the control of the director throught the current and previous period.
9.
Controlling party
The company is a wholly-owned subsidiary of Quintana Exeter Limited, a company registered in Jersey. The registered office of this company is Sommerville House, Philips Street, St Helier, Jersey JE2 4SW.