Quick Deal Property's Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 03590326 (England and Wales)

Abbreviated Accounts for the Year Ended 30 June 2016

for

Quick Deal Property's Ltd

Page

Company Information

1

Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

Mr L Delcassian

Mrs A Delcassian

SECRETARY:

Mr L Delcassian

REGISTERED OFFICE:

Peel House

30 The Downs

Altrincham

Cheshire

WA14 2PX

REGISTERED NUMBER:

03590326 (England and Wales)

ACCOUNTANTS:

HLP Ltd

Accounting and Tax Solutions

Hillgate Place

77 Middle Hillgate

Stockport

Cheshire

SK1 3EH

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Quick Deal Property's Ltd for the period ended 30 June 2016 which comprises the

Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

This report is made solely to the Board of Directors of Quick Deal Property's Ltd, as a body, in accordance

with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the

financial statements of Quick Deal Property's Ltd and state those matters that we have agreed to state to the

Board of Directors of Quick Deal Property's Ltd, as a body, and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the Board

of Directors, as a body, for our work or for this report.

It is your duty to ensure that Quick Deal Property's Ltd has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the assets, liabilities, financial position of profit

or loss of Quick Deal Property's Ltd. You consider that Quick Deal Property's Ltd is exempt from the statutory

audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Quick Deal

Property's Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records

or information and explanations you have given us and we do not, therefore, express any opinion on the

statutory financial statements.

HLP Ltd

Accounting and Tax Solutions

Hillgate Place

77 Middle Hillgate

Stockport

Cheshire

SK1 3EH

30 March 2017

FIXED ASSETS

Tangible assets

2

129,020

128,787

CURRENT ASSETS

Stocks

2,606

-

Debtors

1,820

1,846

Cash at bank and in hand

757

745

5,183

2,591

CREDITORS

Amounts falling due within one year

18,705

19,023

NET CURRENT LIABILITIES

(13,522

)

(16,432

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

115,498

112,355

CREDITORS

Amounts falling due after more than one
year

3

130,874

NET LIABILITIES

(15,376

)

(18,519

)

CAPITAL AND RESERVES

Called up share capital

4

200

Profit and loss account

(15,576

)

(18,719

)

SHAREHOLDERS' FUNDS

(15,376

)

(18,519

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 30 March 2017 and were signed on its
behalf by:

Mr L Delcassian - 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.

Freehold property

-

not provided

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is accounted for at expected tax rates on all differences arising from the inclusion of

items of income and expenditure in taxation computations in periods different from those in which they

are included in the financial statements. A deferred tax asset is only recognised when it is more likely

than not that the asset will be recoverable in the foreseeable future out of suitable taxable profits from

which the underlying timing differences can be deducted.

Going concern

The financial statements have been prepared on a going concern basis. This may not be appropriate

because the company's liabilities exceed its assets.

In the opinion of the directors this basis is correct in that the company has adequate ongoing financial

support from the creditors the largest of which is the bank who are owed £130,874 as at 30 June 2016.

Should the company be unable to continue trading then adjustments would have to be made to reduce

the value of the assets to their recoverable amount, provide for any further liabilities which arise and to

reclassify fixed assets as current assets.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

133,594

Additions

838

At 30 June 2016

134,432

DEPRECIATION

At 1 July 2015

4,807

Charge for year

605

At 30 June 2016

5,412

NET BOOK VALUE

At 30 June 2016

129,020

At 30 June 2015

128,787

3.

CREDITORS

Creditors include an amount of £ 130,874 (2015 - £ 130,874 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable otherwise than by instalments

130,874

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

200

Ordinary shares

£1

200