Quay Property Cornwall Limited - Period Ending 2021-09-30
Quay Property Cornwall Limited - Period Ending 2021-09-30
Year Ended
Registration number:
Quay Property Cornwall Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Quay Property Cornwall Limited
Company Information
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Directors |
K M Derry Mrs S Derry |
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Registered office |
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Accountants |
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Quay Property Cornwall Limited
Balance Sheet
30 September 2021
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Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Quay Property Cornwall Limited
Balance Sheet
30 September 2021
For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 08472021
Quay Property Cornwall Limited
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
1 The Linhay
Higher Lane
Egloshayle
Wadebridge
Cornwall
PL27 6HW
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Quay Property Cornwall Limited
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
20%, reducing balance |
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Quay Property Cornwall Limited
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 October 2020 |
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At 30 September 2021 |
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Depreciation |
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At 1 October 2020 |
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Charge for the year |
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At 30 September 2021 |
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Carrying amount |
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At 30 September 2021 |
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At 30 September 2020 |
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Debtors |
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2021 |
2020 |
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Prepayments |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
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2021 |
2020 |
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Due within one year |
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Other creditors |
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Accrued expenses |
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Corporation tax |
2,378 |
4,393 |
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Quay Property Cornwall Limited
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
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Share capital |
Allotted, called up and fully paid shares
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2021 |
2020 |
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No. |
£ |
No. |
£ |
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100 |
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100 |