Quy Financial Services Ltd

QUY FINANCIAL SERVICES LIMITED - Company Information

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Registered number: 5182326

Abbreviated accounts

For The Year Ended 31 December 2015

Quy Financial Services Ltd

Company No. 5182326

Abbreviated Balance Sheet 31 December 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		130,000		130,000
Tangible Assets	3		14,936		6,645

			144,936		136,645
CURRENT ASSETS
Debtors		43,247		53,889
Cash at bank and in hand		50,757		64,468

		94,004		118,357
Creditors: Amounts Falling Due Within One Year		(17,318)		(25,591)

NET CURRENT ASSETS (LIABILITIES)			76,686		92,766

TOTAL ASSETS LESS CURRENT LIABILITIES			221,622		229,411

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,654)		(1,329)

NET ASSETS			219,968		228,082

CAPITAL AND RESERVES
Called up share capital	4		1,000		1,000
Profit and Loss Account			218,968		227,082

SHAREHOLDERS' FUNDS			219,968		228,082

Page 1

Quy Financial Services Ltd

Company No. 5182326

Abbreviated Balance Sheet (continued) 31 December 2015

For the year ending 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mrs Lydia Molyneux

30th September 2016

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Quy Financial Services Ltd

Notes to the Abbreviated Accounts

For The Year Ended 31 December 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	0%
Computer Equipment	15% reducing balance

Deferred Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

Intangible Assets


	Total
Cost	£
As at 1 January 2015	130,000

As at 31 December 2015	130,000

Net Book Value
As at 31 December 2015	130,000

As at 1 January 2015	130,000

Page 3

Quy Financial Services Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 December 2015

Tangible Assets


	Total
Cost	£
As at 1 January 2015	14,319
Additions	9,750

As at 31 December 2015	24,069

Depreciation
As at 1 January 2015	7,674
Provided during the period	1,459

As at 31 December 2015	9,133

Net Book Value
As at 31 December 2015	14,936

As at 1 January 2015	6,645

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	1000	1,000	1,000

Transactions With and Loans to Directors

Dividends paid to directors

Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

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