Abbreviated Company Accounts - QUAY TIMBER LTD

07680949 QUAY TIMBER LTD 2016-03-31 false 2015-04-01 2016-03-31 true 07680949 2015-04-01 2016-03-31 07680949 2016-03-31 07680949 2015-03-31 07680949 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 07680949 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:Director3 2015-04-01 2016-03-31 uk-gaap-cd-bus:Director3 2016-03-31 uk-gaap-cd-bus:Director3 2015-03-31 iso4217:GBP shares

Registered Number 07680949

QUAY TIMBER LTD

Abbreviated Accounts

31 March 2016

QUAY TIMBER LTD Registered Number 07680949

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	-	-
Tangible assets	3	41,802	-
		41,802	-
Current assets
Stocks		184,001	-
Debtors		64,518	100
Cash at bank and in hand		164,135	-
		412,654	100
Creditors: amounts falling due within one year	4	(161,494)	-
Net current assets (liabilities)		251,160	100
Total assets less current liabilities		292,962	100
Creditors: amounts falling due after more than one year	4	(24,359)	-
Provisions for liabilities		(8,360)	-
Total net assets (liabilities)		260,243	100
Capital and reserves
Called up share capital		100	100
Profit and loss account		260,143	-
Shareholders' funds		260,243	100

For the year ending 31 March 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 23 November 2016

And signed on their behalf by:
M Fawcett, Director

QUAY TIMBER LTD Registered Number 07680949

Notes to the Abbreviated Accounts for the period ended 31 March 2016

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 represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is attributable to the continuing principal activity of the company and arose wholly within the United Kingdom.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery 25% reducing balance
Fixtures, fittings and equipment 15% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off during the year.

2Intangible fixed assets

	£
Cost
At 1 April 2015	-
Additions	1
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	1
Amortisation
At 1 April 2015	-
Charge for the year	1
On disposals	-
At 31 March 2016	1
Net book values
At 31 March 2016	0
At 31 March 2015	-

3Tangible fixed assets

	£
Cost
At 1 April 2015	-
Additions	43,126
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	43,126
Depreciation
At 1 April 2015	-
Charge for the year	1,324
On disposals	-
At 31 March 2016	1,324
Net book values
At 31 March 2016	41,802
At 31 March 2015	-

4Creditors

	2016 £	2015 £
Secured Debts	36,250	-

5Transactions with directors

Name of director receiving advance or credit:	M Fawcett
Description of the transaction:	Advances and Credits
Balance at 1 April 2015:	-
Advances or credits made:	£ 165,060
Advances or credits repaid:	£ 138,316
Balance at 31 March 2016:	£ 26,744

Guarantees on behalf of company director

During the year the company granted guarantees for an amount of £208,000 in connection with liabilities of M Fawcett, the company director.