QED Advertising and Marketing Limited - Period Ending 2016-03-31

Registration number: 02198218

QED Advertising and Marketing Limited

trading as QED Creative

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

QED Advertising and Marketing Limited
trading as QED Creative
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

QED Advertising and Marketing Limited
trading as QED Creative
(Registration number: 02198218)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					61,994			67,987
Current assets
Stocks					7,902			27,540
Debtors					119,428			81,486
Cash at bank and in hand					25,824			73,183
					153,154			182,209
Creditors: Amounts falling due within one year					(80,594)			(115,228)
Net current assets					72,560			66,981
Total assets less current liabilities					134,554			134,968
Creditors: Amounts falling due after more than one year					(3,345)			(6,043)
Net assets					131,209			128,925
Capital and reserves
Called up share capital		3			12,000			12,000
Profit and loss account					119,209			116,925
Shareholders' funds					131,209			128,925

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 21 December 2016 and signed on its behalf by:

.........................................
Kurt Leech
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

QED Advertising and Marketing Limited
trading as QED Creative
Notes to the Abbreviated Accounts for the Year Ended 31 March 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 comprises the value of sales, excluding VAT, of services in the normal course of business.

Depreciation

Depreciation is provided at the following annual rates in order to write off each tangible fixed asset over its estimated useful life.

Asset class	Depreciation method and rate
Motor vehicles	reducing balance 25%
Fixtures and fittings	reducing balance 15%
Computer equipment	reducing balance 25%

Work in progress

Work in progress is stated at the lower of cost and net realisable value. Cost includes all direct material costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The comapny operates a self administered pension scheme for its directors. The assets of the scheme are held seperately from those of the company in an indepenently administered fund.

Page 2

QED Advertising and Marketing Limited
trading as QED Creative
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		318,922			318,922
Additions		24,662			24,662
Disposals		(31,510)			(31,510)
At 31 March 2016		312,074			312,074
Depreciation
At 1 April 2015		250,935			250,935
Charge for the year		15,574			15,574
Eliminated on disposals		(16,429)			(16,429)
At 31 March 2016		250,080			250,080
Net book value
At 31 March 2016		61,994			61,994
At 31 March 2015		67,987			67,987

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		6,000			6,000			6,000			6,000
A Ordinary shares of £1 each		6,000			6,000			6,000			6,000
		12,000			12,000			12,000			12,000

Page 3