Accounts filed on 30-04-2016
Accounts filed on 30-04-2016
trueQuestmore Investments Limited050654762016-04-306941605641976941625641992269416256419955666871453312508301278732125083012787322692514308481520081170958042554387471365000163475211252736081Basis of accounting
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
The turnover shown in the profit and loss account represents amounts invoiced during the year in respect of property disposals, exclusive of Value Added Tax where applicable.
Stocks
Stock of properties are valued at the lower of cost and net realisable value.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Fixtures & FittingsOn cost0.2500846846846846846846846846556668714533551027709104Ordinary1000110001000Ordinary1222Balance sheet Spare note 21 (user defined)TRANSACTIONS WITH DIRECTORS
Included in other creditors due within one year an amount of £109531 (2015 - £109719) is due to Mr H Omar.
During the year Mr H Omar provided his personal guarantee to a company creditor in the sum of £292,000. Mr H Omar received £5,000 in consideration of him giving this guarantee and in addition the company would grant the following securities to Mr H Omar to secure his current debt and any payments made to the other creditor:
a) The issue of a debenture by which the company would grant security over its property and assets to rank after all existing mortgages and debentures of the company.
b) A first legal charge over the company's property at Overton Yards, Croydon.
2017-01-27Mr H Omartruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureQuestmore Investments Limited2015-05-012016-04-30Questmore Investments Limited2014-05-012015-04-30Questmore Investments Limited2014-04-30Questmore Investments Limited2015-04-30Questmore Investments Limited2015-04-30Questmore Investments Limited2016-04-30 2017-01-30
