QUASAR_DISCOS_LIMITED - Accounts

QUASAR DISCOS LIMITED - Company Information

Print Friendly Version

Company Registration No. 08086479 (England and Wales)

QUASAR DISCOS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

QUASAR DISCOS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

QUASAR DISCOS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

4,494

3,249

Current assets

Cash at bank and in hand

19,133

11,912

Creditors: amounts falling due within one year

(19,957)

(11,244)

Net current liabilities/(assets)

(824)

668

Total assets less current liabilities

3,670

3,917

Provisions for liabilities

(720)

(431)

2,950

3,486

Capital and reserves

Called up share capital

100

Profit and loss account

2,850

3,386

Shareholders' funds

2,950

3,486

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 16 February 2017

Mr K, D Wickes

Director

Company Registration No. 08086479

QUASAR DISCOS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

10% reducing balance

Fixed assets

Tangible assets

Cost

At 1 June 2015

4,238

Additions

1,745

At 31 May 2016

5,983

Depreciation

At 1 June 2015

989

Charge for the year

500

At 31 May 2016

1,489

Net book value

At 31 May 2016

4,494

At 31 May 2015

3,249

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100