Fly Q Limited - Abbreviated accounts

Registered number

07485187

Fly Q Limited

Abbreviated Accounts

31 January 2016

Fly Q Limited
Registered number:		07485187
Abbreviated Balance Sheet
as at 31 January 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		111			148

Current assets
Debtors		15,176			21,176

Creditors: amounts falling due within one year		(9,949)			(9,542)

Net current assets			5,227			11,634

Net assets			5,338			11,782

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			5,238			11,682

Shareholders' funds			5,338			11,782

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



J P Palmer
Director
Approved by the board on 31 October 2016

Fly Q Limited
Notes to the Abbreviated Accounts
for the year ended 31 January 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Fixtures, fittings & equipment			25% reducing balance

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.


2	Tangible fixed assets					£

	Cost
	At 1 February 2015					350
	At 31 January 2016					350

	Depreciation
	At 1 February 2015					202
	Charge for the year					37
	At 31 January 2016					239

	Net book value
	At 31 January 2016					111
	At 31 January 2015					148


3	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	A Ordinary shares	£1 each		80		80		80
	B Ordinary shares	£1 each		20		20		20
						100		100