Quality Mouldings Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07329745 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

QUALITY MOULDINGS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr L J Couzens

Mr M Pinhorne

REGISTERED OFFICE:

The Ivy House

1 Folly Lane

Petersfield

Hampshire

GU31 4AU

REGISTERED NUMBER:

07329745 (England and Wales)

ACCOUNTANTS:

Wallis White & Co

Accountants and Tax Consultants

The Ivy House

1 Folly Lane

Petersfield

Hampshire

GU31 4AU

FIXED ASSETS

Tangible assets

2

7,840

8,089

CURRENT ASSETS

Stocks

23,940

30,120

Debtors

75,025

53,206

Cash at bank

186,449

169,715

285,414

253,041

CREDITORS

Amounts falling due within one year

84,049

66,507

NET CURRENT ASSETS

201,365

186,534

TOTAL ASSETS LESS CURRENT
LIABILITIES

209,205

194,623

PROVISIONS FOR LIABILITIES

1,568

-

NET ASSETS

207,637

194,623

CAPITAL AND RESERVES

Called up share capital

3

Retained earnings

207,634

194,620

SHAREHOLDERS' FUNDS

207,637

194,623

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 17 May 2017 and were signed on its behalf by:

Mr L J Couzens - Director

Mr M Pinhorne - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

14,240

Additions

1,466

At 31 August 2016

15,706

DEPRECIATION

At 1 September 2015

6,151

Charge for year

1,715

At 31 August 2016

7,866

NET BOOK VALUE

At 31 August 2016

7,840

At 31 August 2015

8,089

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

3

Ordinary

1

3