Quintessential (Cambridge) Limited - Period Ending 2016-09-30

Registration number: 04627291

Quintessential (Cambridge) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

ProEdge Associates Limited
  Long Meadow
  New Road
  Mepal
  Ely
  Cambridgeshire
  CB6 2AP

Quintessential (Cambridge) Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Quintessential (Cambridge) Limited
(Registration number: 04627291)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					37,292			38,591
Current assets
Stocks					101,000			117,665
Debtors					109,343			79,325
Cash at bank and in hand					7,978			3,359
					218,321			200,349
Creditors: Amounts falling due within one year					(57,752)			(59,166)
Net current assets					160,569			141,183
Total assets less current liabilities					197,861			179,774
Provisions for liabilities					(1,658)			(1,918)
Net assets					196,203			177,856
Capital and reserves
Called up share capital		3			100			100
Shareholders' loan					227,391			201,872
Profit and loss account					(31,288)			(24,116)
Shareholders' funds					196,203			177,856

For the year ending 30 September 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 31 March 2017 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Quintessential (Cambridge) Limited
(Registration number: 04627291)
Abbreviated Balance Sheet at 30 September 2016
......... continued

.........................................
  Mr Paul Astbury
  Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Quintessential (Cambridge) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Property improvements	no depreciation provided
Fixtures, fittings and equipment	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value by the directors, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Quintessential (Cambridge) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		61,858			61,858
Additions		1,464			1,464
At 30 September 2016		63,322			63,322
Depreciation
At 1 October 2015		23,267			23,267
Charge for the year		2,763			2,763
At 30 September 2016		26,030			26,030
Net book value
At 30 September 2016		37,292			37,292
At 30 September 2015		38,591			38,591

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4