Quantumshare Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08958816 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

FOR

QUANTUMSHARE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Z Proietti

REGISTERED OFFICE:

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

REGISTERED NUMBER:

08958816 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy LLP

Griffins Court

24-32 London Road

Newbury

Berkshire

RG14 1JX

FIXED ASSETS

Intangible assets

2

3,000

4,000

Tangible assets

3

124,969

137,251

127,969

141,251

CURRENT ASSETS

Stocks

6,846

Debtors

8,200

18,163

Cash at bank and in hand

47,692

28,215

62,738

53,224

CREDITORS

Amounts falling due within one year

248,264

234,714

NET CURRENT LIABILITIES

(185,526

)

(181,490

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(57,557

)

(40,239

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(57,657

)

(40,339

)

SHAREHOLDERS' FUNDS

(57,557

)

(40,239

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 24 January 2017 and were signed by:

M Z Proietti - Director

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, excluding value added tax.

Turnover represents net invoiced goods and sales of services, excluding value added tax.

Intangible assets - franchise fees

Intangible assets acquired separately from a business are capitalised at cost.

Franchise fees are amortised on a straight line basis over their useful lives. Provision is made for any impairment.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 5% on cost

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.

Going concern

The company meets its day to day commitments through its normal business activities and has the support from its parent

undertaking, Quantumflex Limited. This support will continue for a period of at least 12 months from the date of approval

of these financial statements.

On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

5,000

AMORTISATION

At 1 May 2015

1,000

Amortisation for year

1,000

At 30 April 2016

2,000

NET BOOK VALUE

At 30 April 2016

3,000

At 30 April 2015

4,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

139,391

Additions

1,687

At 30 April 2016

141,078

DEPRECIATION

At 1 May 2015

2,140

Charge for year

13,969

At 30 April 2016

16,109

NET BOOK VALUE

At 30 April 2016

124,969

At 30 April 2015

137,251

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/16

30/4/15

value:

£

100

Ordinary

£1

100

5.	ULTIMATE PARENT COMPANY

Quantumflex Limited is regarded by the director as being the company's ultimate parent company.