QUALITY_DUCTWORK_SYSTEMS_ - Accounts

QUALITY DUCTWORK SYSTEMS LIMITED - Company Information

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Company Registration No. 05300690 (England and Wales)

QUALITY DUCTWORK SYSTEMS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2015

QUALITY DUCTWORK SYSTEMS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2015

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2015

2014

Notes

Fixed assets

Tangible assets

56,000

Current assets

Cash at bank and in hand

765

2,185

Creditors: amounts falling due within one year

(2,163)

(2,096)

Net current (liabilities)/assets

(1,398)

Total assets less current liabilities

54,602

56,089

Creditors: amounts falling due after more than one year

(44,734)

(53,182)

9,868

2,907

Capital and reserves

Called up share capital

Profit and loss account

9,867

2,906

Shareholders' funds

9,868

2,907

For the financial year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 June 2015

Mr RP Wightman

Director

Company Registration No. 05300690

QUALITY DUCTWORK SYSTEMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost

At 1 February 2014 & at 31 January 2015

56,000

At 31 January 2014

56,000

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary Share of £1 each