Abbreviated Company Accounts - QUEST ESTATES (UK) LTD

QUEST ESTATES (UK) LTD - Company Information

03618105 QUEST ESTATES (UK) LTD 2015-08-31 false 2014-09-01 2015-08-31 true 03618105 2014-09-01 2015-08-31 03618105 2015-08-31 03618105 2014-08-31 03618105 uk-gaap-cd-bus:Director1 2014-09-01 2015-08-31 03618105 uk-gaap-cd-bus:Director2 2014-09-01 2015-08-31 uk-gaap-cd-bus:Director3 2014-09-01 2015-08-31 uk-gaap-cd-bus:Director3 2015-08-31 uk-gaap-cd-bus:Director3 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-01 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-31 iso4217:GBP shares

Registered Number 03618105

QUEST ESTATES (UK) LTD

Abbreviated Accounts

31 August 2015

QUEST ESTATES (UK) LTD Registered Number 03618105

Abbreviated Balance Sheet as at 31 August 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	232,767	232,227
Investments	3	2	2
		232,769	232,229
Current assets
Stocks		-	15,672
Debtors		85,539	90,436
Cash at bank and in hand		-	9,177
		85,539	115,285
Creditors: amounts falling due within one year		(40,179)	(51,831)
Net current assets (liabilities)		45,360	63,454
Total assets less current liabilities		278,129	295,683
Creditors: amounts falling due after more than one year		(186,472)	(186,893)
Total net assets (liabilities)		91,657	108,790
Capital and reserves
Called up share capital	4	12	12
Revaluation reserve		121,667	121,667
Profit and loss account		(30,022)	(12,889)
Shareholders' funds		91,657	108,790

For the year ending 31 August 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 May 2016

And signed on their behalf by:
Mr D.A Quest, Director

QUEST ESTATES (UK) LTD Registered Number 03618105

Notes to the Abbreviated Accounts for the period ended 31 August 2015

1Accounting Policies

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

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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

Computer equipment - three years straight line.
Fixtures, fittings & equipment - 25% per annum reducing balance

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 director 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.

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

2Tangible fixed assets

	£
Cost
At 1 September 2014	243,196
Additions	1,606
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2015	244,802
Depreciation
At 1 September 2014	10,969
Charge for the year	1,066
On disposals	-
At 31 August 2015	12,035
Net book values
At 31 August 2015	232,767
At 31 August 2014	232,227

3Fixed assets Investments
Cost at 1 September 2014 & 31 August 2015 - £2

Net Book Value at 31 August 2015 - £2

Net Book Value at 31 August 2014 - £2

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
12 Ordinary shares of £1 each	12	12

5Transactions with directors

Name of director receiving advance or credit:	Mr D.A Quest
Description of the transaction:	Directors loan
Balance at 1 September 2014:	£ 0
Advances or credits made:	£ 470
Advances or credits repaid:	£ 0
Balance at 31 August 2015:	£ 470