Qui Vive Limited - Period Ending 2016-05-31

Registration number: 01117289

Qui Vive Limited
 
 
Unaudited Abbreviated Accounts
 
  for the Year Ended 31 May 2016
 

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

Qui Vive Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Qui Vive Limited
(Registration number: 01117289)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					-			510,000
Investments					1,038,689			678,679
					1,038,689			1,188,679
Current assets
Cash at bank and in hand					54,758			9,891
Creditors: Amounts falling due within one year					(87,158)			(32,504)
Net current liabilities					(32,400)			(22,613)
Total assets less current liabilities					1,006,289			1,166,066
Provisions for liabilities					-			(78,665)
Net assets					1,006,289			1,087,401
Capital and reserves
Called up share capital		3			193			193
Share premium account					266,426			266,426
Capital redemption reserve					7			7
Revaluation reserve					-			428,240
Profit and loss account					739,663			392,535
Shareholders' funds					1,006,289			1,087,401

For the year ending 31 May 2016 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 21 September 2016 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Qui Vive Limited
(Registration number: 01117289)
Abbreviated Balance Sheet at 31 May 2016
......... continued

.........................................
Mr DJ Carpenter
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Qui Vive Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

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
Investment Properties	No Depreciation

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Qui Vive Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 June 2015		510,000			678,679			1,188,679
Additions		-			504,275			504,275
Disposals		(510,000)			(144,265)			(654,265)
At 31 May 2016		-			1,038,689			1,038,689
Depreciation
At 31 May 2016		-			-			-
Net book value
At 31 May 2016		-			1,038,689			1,038,689
At 31 May 2015		510,000			678,679			1,188,679

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A of £0.10 each		974			97			974			97
Ordinary B of £0.10 each		956			96			956			96
		1,930			193			1,930			193

4

Control

The company is controlled by Mr D J Carpenter who owns 50.20% (2014 50.20%) of the issued A voting shares.

Page 4