Quotex Systems Ltd - Abbreviated accounts 16.3
Quotex Systems Ltd - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| QUOTEX SYSTEMS LTD |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| QUOTEX SYSTEMS LTD (REGISTERED NUMBER: 05976697) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 | to | 3 |
| Notes to the Abbreviated Accounts | 4 | to | 5 |
| Chartered Accountants' Report | 6 |
| QUOTEX SYSTEMS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BANKERS: |
| QUOTEX SYSTEMS LTD (REGISTERED NUMBER: 05976697) |
| ABBREVIATED BALANCE SHEET |
| 31ST MAY 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| QUOTEX SYSTEMS LTD (REGISTERED NUMBER: 05976697) |
| ABBREVIATED BALANCE SHEET - continued |
| 31ST MAY 2016 |
| The financial statements were approved by the Board of Directors on behalf by: |
| QUOTEX SYSTEMS LTD (REGISTERED NUMBER: 05976697) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements 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 net invoiced sales of goods and services, excluding value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| Equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| Invoice discounting |
| The company has entered into an invoice discounting arrangement for certain trade debtors. Amounts due from |
| the customers are shown in full in trade debtors, with amounts due to the finance company in creditors due within |
| twelve months under the other creditors heading. |
| QUOTEX SYSTEMS LTD (REGISTERED NUMBER: 05976697) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st June 2015 |
| Additions |
| At 31st May 2016 |
| DEPRECIATION |
| At 1st June 2015 |
| Charge for year |
| At 31st May 2016 |
| NET BOOK VALUE |
| At 31st May 2016 |
| At 31st May 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| QUOTEX SYSTEMS LTD |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Quotex Systems Ltd for the year ended 31st May 2016 which comprise the Profit and Loss |
| Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Quotex Systems Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quotex Systems Ltd and state those matters that we have agreed to state to the Board of Directors of Quotex Systems Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Quotex Systems Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quotex Systems Ltd. You consider that Quotex Systems Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Quotex Systems Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 15th September 2016 |