Qualitas Technology Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02832463 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2014

for

Qualitas Technology Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D F Rochford

J Rochford

SECRETARY:

J Rochford

REGISTERED OFFICE:

7 The Manor Grove Centre

Vicarage Farm Road

Peterborough

Cambridgeshire

PE1 5UH

REGISTERED NUMBER:

02832463 (England and Wales)

ACCOUNTANTS:

Nichols & Co ( Accountancy ) Limited

Chartered Accountants

Unit 7

Mulberry Place

Pinnell Road

Eltham

London

SE9 6AR

FIXED ASSETS

Tangible assets

2

13,819

6,978

CURRENT ASSETS

Stocks

114,079

94,814

Debtors

46,253

45,765

Cash at bank and in hand

1,443

7,839

161,775

148,418

CREDITORS

Amounts falling due within one year

133,600

127,403

NET CURRENT ASSETS

28,175

21,015

TOTAL ASSETS LESS CURRENT LIABILITIES

41,994

27,993

CREDITORS

Amounts falling due after more than one year

6,157

-

NET ASSETS

35,837

27,993

CAPITAL AND RESERVES

Called up share capital

3

104

104

Share premium

89,996

89,996

Profit and loss account

(54,263

)

(62,107

)

SHAREHOLDERS' FUNDS

35,837

27,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 July 2015 and were signed on its behalf by:

D F Rochford - Director

1.	ACCOUNTING POLICIES

Accounting convention

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

49,834

Additions

11,447

At 31 October 2014

61,281

DEPRECIATION

At 1 November 2013

42,856

Charge for year

4,606

At 31 October 2014

47,462

NET BOOK VALUE

At 31 October 2014

13,819

At 31 October 2013

6,978

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

104

Ordinary

£1

104

104