Quantum Electrical and Design Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05079754 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

Quantum Electrical and Design Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I Reade

J McGrath

SECRETARY:

J McGrath

REGISTERED OFFICE:

Unit 3

Ford Green Business Park

Ford Green

Stoke on Trent

Staffordshire

ST6 1NG

REGISTERED NUMBER:

05079754 (England and Wales)

FIXED ASSETS

Tangible assets

2

25,468

2,436

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

137,259

81,604

Cash at bank

42,558

76,939

180,817

159,543

CREDITORS

Amounts falling due within one year

3

106,362

104,960

NET CURRENT ASSETS

74,455

54,583

TOTAL ASSETS LESS CURRENT LIABILITIES

99,923

57,019

CREDITORS

Amounts falling due after more than one year

3

17,460

-

NET ASSETS

82,463

57,019

CAPITAL AND RESERVES

Called up share capital

4

90

90

Capital redemption reserve

30

30

Profit and loss account

82,343

56,899

SHAREHOLDERS' FUNDS

82,463

57,019

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 2 July 2014 and were signed on its behalf by:

I Reade - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the assumption that the company is able to carry

on business as a going concern, which the directors consider appropriate having regard to the

company's current and expected performance.

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 is stated net of VAT and trade discounts. Turnover from the supply of services represents

the value of services provided under contracts, to the extent that there is a right to consideration,

and is recorded at the value of the consideration due. Where a contract has only been partially

completed at the balance sheet date turnover represents the value of the service provided to date

based on a proportion of the total contract value. Where payments are received from customers in

advance of services provided, the amounts are recorded as Deferred Income and included as part of

Creditors due within one year.

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

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33.33% on cost

Stocks

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

obsolete and slow moving items.

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 April 2013

50,198

Additions

32,159

Disposals

(9,351

)

At 31 March 2014

73,006

DEPRECIATION

At 1 April 2013

47,762

Charge for year

8,275

Eliminated on disposal

(8,499

)

At 31 March 2014

47,538

NET BOOK VALUE

At 31 March 2014

25,468

At 31 March 2013

2,436

3.

CREDITORS

Creditors include an amount of £ 23,263 (2013 - £ 1,424 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

30

Ordinary A

£1

30

30

30

Ordinary B

£1

30

30

30

Ordinary C

£1

30

30

90

90