Quayside Electrical Limited - Period Ending 2014-01-31

Registration number: 05335036

Quayside Electrical Limited Unaudited Abbreviated Accounts for the Year Ended 31 January 2014

Quayside Electrical Limited
Contents

Abbreviated Balance Sheet   1

Notes to the Abbreviated Accounts   2 to 3

Quayside Electrical Limited
(Registration number: 05335036)
Abbreviated Balance Sheet at 31 January 2014

	Note		2014						2013
	£			£			£			£
Fixed assets
Tangible fixed assets						68,814						36,787
	2					68,814						36,787
Current assets
Stocks			-						20,000
Debtors			670,310						818,743
Cash at bank and in hand			7,517						14,721
			677,827						853,464
Creditors: Amounts falling due within one year			(664,621)						(846,040)
Net current assets						13,206						7,424
Total assets less current liabilities						82,020						44,211
Creditors: Amounts falling due after more than one year						(3,842)						-
Net assets						78,178						44,211
Capital and reserves
Called up share capital	4		100						100
Share premium account			600						600
Profit and loss account			77,478						43,511
						78,178						44,211

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

For the year ending 31 January 2014 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.

Approved by the Board on 29 October 2014 and signed on its behalf by:

......................................... Mr M V Winteridge Director

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

Quayside Electrical Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014

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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance basis
Computer equipment	33% reducing balance basis
Leasehold improvements	10% straight line basis

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2013		52,860			52,860
Additions		40,607			40,607
At 31 January 2014		93,467			93,467
Depreciation
At 1 February 2013		16,073			16,073
Charge for the year		8,580			8,580
At 31 January 2014		24,653			24,653
Net book value
At 31 January 2014		68,814			68,814
At 31 January 2013		36,787			36,787

Page 2

Quayside Electrical Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		242,764			354,002

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

5	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr M V Winteridge
advance subject to interest at a rate of 4%	46,693	35,492	35,492	-
Mr M Preston
advance subject to interest at a rate of 4%	22,434	-	-	-

Page 3