Abbreviated Company Accounts - QUEENRING LIMITED

01510983 QUEENRING LIMITED 2015-09-30 false 2014-10-01 2015-09-30 true 01510983 2014-10-01 2015-09-30 01510983 2015-09-30 01510983 2014-09-30 01510983 uk-gaap-cd-bus:Director1 2014-10-01 2015-09-30 01510983 uk-gaap-cd-bus:Director2 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-30 iso4217:GBP shares

Registered Number 01510983

QUEENRING LIMITED

Abbreviated Accounts

30 September 2015

QUEENRING LIMITED Registered Number 01510983

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	346,482	371,866
Investments	3	890,032	890,032
		1,236,514	1,261,898
Current assets
Debtors		1,183,601	1,197,680
Cash at bank and in hand		150,373	142,085
		1,333,974	1,339,765
Creditors: amounts falling due within one year		(1,662,205)	(255,869)
Net current assets (liabilities)		(328,231)	1,083,896
Total assets less current liabilities		908,283	2,345,794
Creditors: amounts falling due after more than one year		-	(1,464,000)
Provisions for liabilities		(4,914)	(4,914)
Total net assets (liabilities)		903,369	876,880
Capital and reserves
Called up share capital	4	8,425	8,425
Profit and loss account		894,944	868,455
Shareholders' funds		903,369	876,880

For the year ending 30 September 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 26 July 2016

And signed on their behalf by:
R B Mehta, Director

QUEENRING LIMITED Registered Number 01510983

Notes to the Abbreviated Accounts for the period ended 30 September 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 and operating income

Turnover comprises the invoiced value of services supplied by the company, exclusive of value added tax.

Operating income includes rents receivable during the year

Tangible assets depreciation policy
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate
Long leasehold Term of lease
Plant and machinery 4 to 20 years

Other accounting policies
Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account as incurred. Assets obtained under hire purchase contracts are capitalised as tangible fixed assets. Assets acquired by hire purchase are depreciated over their useful lives. Obligations under such contracts are included in creditors. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Fixed asset investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

2Tangible fixed assets

	£
Cost
At 1 October 2014	826,309
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	826,309
Depreciation
At 1 October 2014	454,443
Charge for the year	25,384
On disposals	-
At 30 September 2015	479,827
Net book values
At 30 September 2015	346,482
At 30 September 2014	371,866

3Fixed assets Investments
Cost
Investment other than loans £890,000
Investment other than loans £22
Investment other than loans £10
As at 30th September 2015 £890,032

Net Book Value
As at 30th September 2015 - £890,032
As at 30th September 2014 - £890,032

The company`s investments at the balance sheet date in the share capital of companies include the following:

Sao Paulo Development Limited
Country of incorporation - British Virgin Islands
Nature of business -Property Investment in U.A.E.
Class of share - Ordinary Shares of US$1.00 each
% holding - 9.916%

Kandoo Capital Limited
Country of incorporation - England and Wales
Nature of business - Property Investment in Denmark
`A` Ordinary shares of £0.01 each
% holding - 2.78%
`B` Ordinary shares of £0.01 each
% holding - 2.18%

Nooby Investments Limited
Country of incorporation - England and Wales
Nature of business - Property Investment in Denmark
`A` Ordinary shares of £0.01 each
% holding - 2.78%
`B` Ordinary shares of £0.01 each
% holding - 2.36%

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

	2015 £	2014 £
8,425 Ordinary shares of £1 each	8,425	8,425