Quality Homes (UK) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03976235 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

QUALITY HOMES (UK) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Sadhu Singh Gakhal

Satnam Kaur Gakhal

SECRETARY:

Sadhu Singh Gakhal

REGISTERED OFFICE:

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

REGISTERED NUMBER:

03976235 (England and Wales)

ACCOUNTANTS:

Brindleys Limited

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

FIXED ASSETS

Intangible assets

2

457,368

Tangible assets

3

36,307

35,459

493,675

492,827

CURRENT ASSETS

Stocks

4,625

4,550

Debtors

4

806,115

1,117,883

Cash at bank and in hand

1,627,728

1,195,942

2,438,468

2,318,375

CREDITORS

Amounts falling due within one year

283,949

364,084

NET CURRENT ASSETS

2,154,519

1,954,291

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,648,194

2,447,118

PROVISIONS FOR LIABILITIES

3,371

NET ASSETS

2,644,823

2,443,747

CAPITAL AND RESERVES

Called up share capital

5

1,020

Profit and loss account

2,643,803

2,442,727

SHAREHOLDERS' FUNDS

2,644,823

2,443,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 11 February 2017 and were signed on its behalf
by:

Sadhu Singh Gakhal - 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.

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

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

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.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

457,368

NET BOOK VALUE

At 31 May 2016

457,368

At 31 May 2015

457,368

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

204,127

Additions

6,368

At 31 May 2016

210,495

DEPRECIATION

At 1 June 2015

168,668

Charge for year

5,520

At 31 May 2016

174,188

NET BOOK VALUE

At 31 May 2016

36,307

At 31 May 2015

35,459

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 607,933 (2015 - £ 769,921 )

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

535

Ordinary A

£1

535

230

Ordinary B

£1

230

100

Ordinary C

£1

100

Ordinary D

£1

100

35

Ordinary E

£1

35

5

Ordinary F

£1

5

Ordinary G

£1

5

Ordinary H

£1

5

Ordinary I

£1

5

1,020