QSL Limited,Ltd - Accounts

QSL Limited,Ltd - Accounts

QSL LTD - Company Information

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2015-10-01 true false Private Limited Company 04080469 2016-09-30 04080469 2015-10-01 2016-09-30 04080469 2015-09-30 04080469 2014-10-01 2015-09-30 04080469 uk-bus:Director1 2015-10-01 2016-09-30 04080469 uk-gaap:ComputerEquipment 2015-10-01 2016-09-30 04080469 uk-gaap:FixturesFittings 2015-10-01 2016-09-30 04080469 uk-bus:AllOrdinaryShares 2016-09-30 iso4217:GBP
QSL Limited
For the year ended 30 September 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04080469
2
Contents Page
QSL Limited
For the year ended 30 September 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
QSL Limited
Chartered Accountants' Report
For the year ended 30 September 2016
Chartered Accountants' Report to the Board of Directors
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of QSL
Limited for the year ended 30 September 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 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of QSL Limited, as a body, in accordance with the terms of our
engagement letter dated 20 July 2015. Our work has been undertaken solely to prepare for your approval the accounts of QSL
Limited and state those matters that we have agreed to state to the Board of Directors of QSL Limited, as a body, in this report
in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than QSL Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that QSL Limited has kept adequate accounting records to prepare statutory accounts that give a true
and fair view of the assets, liabilities, financial position and loss of QSL Limited. You consider that QSL 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 accounts of QSL 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 accounts.
Marray & McIntyre
Chartered Accountants
Hawthorn House
1Medlicott Close
Corby
Northants
NN18 9NF
21 June 2017
Dated:
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4
Abbreviated Balance Sheet
QSL Limited
As at 30 September 2016
04080469
Registered Number :
£
£
2016
Notes
2015
Fixed assets
Tangible assets
2
3,744
4,782
3,744
4,782
Current assets
Debtors
3
103,398
28,813
Cash at bank and in hand
151,106
301,482
179,919
404,880
Creditors: amounts falling due within one year
(144,734)
(28,036)
260,146
151,883
Net current assets
Total assets less current liabilities
155,627
264,928
(737)
(956)
Provisions for liabilities
154,890
Net assets
263,972
Capital and reserves
Called up share capital
100
4
100
Profit and loss account
154,790
263,872
154,890
263,972
Shareholders funds
For the year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The director acknowledges his 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.
Date approved by the board: 26 September 2017
Gordon Hoise Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
QSL Limited
For the year ended 30 September 2016
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.Deferred tax assets are only recognised if it is more likely than not that they will be recovered either against future taxable profits or against the reversal of other deferred tax liabilities.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the
shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment
33 Reducing balance
Fixtures and Fittings
20 Reducing balance
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6
Notes to the Abbreviated Financial Statements
QSL Limited
For the year ended 30 September 2016
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
26,927
At 01 October 2015
At 30 September 2016
26,927
Depreciation
22,145
At 01 October 2015
1,038
Charge for year
23,183
At 30 September 2016
Net book values
At 30 September 2016
3,744
4,782
At 30 September 2015
3 Debtors:
All debtors are receivable within one year
4 Share capital
Authorised
100 Ordinary Shares shares of £1.00 each
Allotted called up and fully paid
2016
2015
£
£
100 Ordinary Shares shares of £1.00 each
100
100
100
100
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