Abbreviated Company Accounts - QUARM SOLUTIONS LIMITED

Abbreviated Company Accounts - QUARM SOLUTIONS LIMITED


Registered Number 05247629

QUARM SOLUTIONS LIMITED

Abbreviated Accounts

31 October 2016

QUARM SOLUTIONS LIMITED Registered Number 05247629

Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 4,400 5,867
4,400 5,867
Current assets
Debtors 52,250 43,571
Cash at bank and in hand 27,553 30,635
79,803 74,206
Creditors: amounts falling due within one year (40,735) (29,850)
Net current assets (liabilities) 39,068 44,356
Total assets less current liabilities 43,468 50,223
Creditors: amounts falling due after more than one year 0 (4,231)
Provisions for liabilities (880) (1,173)
Total net assets (liabilities) 42,588 44,819
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 42,488 44,719
Shareholders' funds 42,588 44,819
  • For the year ending 31 October 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 16 December 2016

And signed on their behalf by:
C R Brown, Director

QUARM SOLUTIONS LIMITED Registered Number 05247629

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of services provided during the year and derives from the provision of services falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 25% reducing-balance
Motor vehicles - 25% reducing-balance

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

2Tangible fixed assets
£
Cost
At 1 November 2015 12,776
Additions -
Disposals -
Revaluations -
Transfers -
At 31 October 2016 12,776
Depreciation
At 1 November 2015 6,909
Charge for the year 1,467
On disposals -
At 31 October 2016 8,376
Net book values
At 31 October 2016 4,400
At 31 October 2015 5,867
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
100 Ordinary shares of £1 each 100 100