Abbreviated Company Accounts - EUROQUALITY LTD

Registered Number 04671123

EUROQUALITY LTD

Abbreviated Accounts

28 February 2016

EUROQUALITY LTD Registered Number 04671123

Abbreviated Balance Sheet as at 28 February 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	2,694	3,533
		2,694	3,533
Current assets
Stocks		9,800	8,250
Debtors		1,500	-
Cash at bank and in hand		8,153	12,014
		19,453	20,264
Creditors: amounts falling due within one year		(10,984)	(12,923)
Net current assets (liabilities)		8,469	7,341
Total assets less current liabilities		11,163	10,874
Total net assets (liabilities)		11,163	10,874
Capital and reserves
Called up share capital		1	1
Profit and loss account		11,162	10,873
Shareholders' funds		11,163	10,874

For the year ending 28 February 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 January 2017

And signed on their behalf by:
Mr A Sun, Director

EUROQUALITY LTD Registered Number 04671123

Notes to the Abbreviated Accounts for the period ended 28 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents net fees exclusive of VAT.

Tangible assets depreciation policy
Depreciation is provided after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures and Fittings 20% reducing balance
Office Equipment 20% reducing balance
Motor Vehicles 25% reducing balance
Tools 25% reducing balance

Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

2Tangible fixed assets

	£
Cost
At 1 March 2015	12,685
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2016	12,685
Depreciation
At 1 March 2015	9,152
Charge for the year	839
On disposals	-
At 28 February 2016	9,991
Net book values
At 28 February 2016	2,694
At 28 February 2015	3,533