Quno Limited - Abbreviated accounts

Registered number

06657395

Quno Limited

Abbreviated Financial Statements

31 December 2014

Quno Limited

Report to the directors on the preparation of the unaudited abbreviated accounts of Quno Limited for the year ended 31 December 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated financial statements of Quno Limited for the year ended 31 December 2014 which comprise of the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Quno Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Quno Limited and state those matters that we have agreed to state to the Board of Directors of Quno Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quno Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Quno 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 loss of Quno Limited. You consider that Quno 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 Quno 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 abbreviated accounts.

Clark Howes Accountants Limited
Certified Accountants
2 Minton Place
Victoria Road
Bicester
Oxon
OX26 6QB

17 July 2015

Quno Limited
Registered number: 06657395
Abbreviated Balance Sheet
as at 31 December 2014

Notes			2014			2013
£				£
Current assets
Debtors		1			1

Creditors: amounts falling due within one year		(699,035)			(678,082)

Net current liabilities			(699,034)			(678,081)

Net liabilities			(699,034)			(678,081)

Capital and reserves
Called up share capital	2		1			1
Profit and loss account			(699,035)			(678,082)

Shareholder's funds			(699,034)			(678,081)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr W Phillipson
Director
Approved by the board on 17 July 2015

Quno Limited
Notes to the Abbreviated Accounts
for the year ended 31 December 2014

1	Accounting policies

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

	Going concern
	The accounts have been prepared under the going concern concept; the parent company Silverrail Technologies Inc. has confirmed to the directors that it will continue to support the company for a period of 12 months after the date of signing the financial statements.

	Deferred taxation
	Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.


2	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1		1		1


3	Ultimate controlling party

	During the year the company was controlled by Silverrail Technologies Inc. by virtue of its 100% shareholding.