Quassia (Electronics) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01298871 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

for

Quassia (Electronics) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

R T J Kitchen

L D Sykes

SECRETARY:

R T J Kitchen

REGISTERED OFFICE:

Quassia House

Bearwalden Industrial Estate

Wendens Ambo

Saffron Walden

Essex

CB11 4JX

REGISTERED NUMBER:

01298871 (England and Wales)

ACCOUNTANTS:

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

FIXED ASSETS

Tangible assets

2

839

1,122

CURRENT ASSETS

Stocks

7,090

4,639

Debtors

3

29,492

15,878

Cash in hand

181

66

36,763

20,583

CREDITORS

Amounts falling due within one year

4

59,044

52,721

NET CURRENT LIABILITIES

(22,281

)

(32,138

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,442

)

(31,016

)

CREDITORS

Amounts falling due after more than one
year

-

1,140

NET LIABILITIES

(21,442

)

(32,156

)

CAPITAL AND RESERVES

Called up share capital

5

20,086

Profit and loss account

(41,528

)

(52,242

)

SHAREHOLDERS' FUNDS

(21,442

)

(32,156

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 15 May 2017 and were signed on its behalf by:

R T J Kitchen - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements, going concern

The financial statements have been prepared on the going concern basis which assumes that the company will

continue in operational existence for the foreseeable future.

The company is dependent upon the continued financial support of its bank and the directors. It is expected that

this support will continue and the directors therefore consider it appropriate to prepare the financial statements

on the going concern basis.

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, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

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

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the

balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that

it is more likely than not they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

144,321

DEPRECIATION

At 1 September 2015

143,199

Charge for year

283

At 31 August 2016

143,482

NET BOOK VALUE

At 31 August 2016

839

At 31 August 2015

1,122

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 7,836 (31.8.15 - £ 11,030 )

4.

CREDITORS

Creditors include an amount of £ 19,989 (31.8.15 - £ 19,326 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

20,086

Ordinary

£1

20,086

6.	RELATED PARTY DISCLOSURES

Quassia (Properties) Limited

A company under the same control

31.8.16

31.8.15

£

Amount due to related party at the balance sheet date

18,007

12,869

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 two to five)

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 Quassia (Electronics) Limited for the year ended 31 August 2016 which comprise 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.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Quassia (Electronics) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quassia (Electronics) Limited and state those matters that we have agreed to state to the Board of Directors of Quassia (Electronics) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quassia (Electronics) Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Quassia (Electronics) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quassia (Electronics) Limited. You consider that Quassia (Electronics) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Quassia (Electronics) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

16 May 2017