Quality Sino Merchandise Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00758091 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

QUALITY SINO MERCHANDISE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs M L Judge

Mr P J Judge

SECRETARY:

Mrs M L Judge

REGISTERED OFFICE:

Arrowsmith Court

Station Approach

Broadstone

Dorset

BH18 8AT

REGISTERED NUMBER:

00758091 (England and Wales)

ACCOUNTANTS:

Newton Magnus

Chartered Certified Accountants

& Statutory Auditors

Arrowsmith Court

Station Approach

Broadstone

Dorset

BH18 8AT

FIXED ASSETS

Tangible assets

2

585,324

585,381

Investments

3

318,669

436,515

903,993

1,021,896

CURRENT ASSETS

Debtors

3,917

-

Cash at bank

65,903

53,982

69,820

53,982

CREDITORS

Amounts falling due within one year

(16,129

)

(38,393

)

NET CURRENT ASSETS

53,691

15,589

TOTAL ASSETS LESS CURRENT LIABILITIES

957,684

1,037,485

PROVISIONS FOR LIABILITIES

(62

)

(76

)

NET ASSETS

957,622

1,037,409

CAPITAL AND RESERVES

Called up share capital

4

3,295

Revaluation reserve

218,643

Profit and loss account

735,684

815,471

SHAREHOLDERS' FUNDS

957,622

1,037,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 13 September 2016 and were signed on its
behalf by:

Mr P J Judge - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities

(effective January 2015).

Turnover

Turnover represents the value of goods and services supplied during the year, 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.

Fixtures and fittings

-

15% on reducing balance

Deferred tax

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

balance sheet date where transactions or events have occurred at that date that will result in an obligation to

pay more, or a right to pay less or to receive more, tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed

assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the

extent that,a t the balance sheet date, there is a binding agreement to dispose of the assets concerned.

However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is

more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only

where the replacement assets are sold;

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2015

and 31 March 2016

599,336

DEPRECIATION

At 1 April 2015

13,955

Charge for year

57

At 31 March 2016

14,012

NET BOOK VALUE

At 31 March 2016

585,324

At 31 March 2015

585,381

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST OR VALUATION

At 1 April 2015

436,515

Additions

156,413

Disposals

(274,259

)

At 31 March 2016

318,669

NET BOOK VALUE

At 31 March 2016

318,669

At 31 March 2015

436,515

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

3,295

Ordinary

£1

3,295