North Quay Trading Limited - Accounts to registrar - small 17.1.1

North Quay Trading Limited - Accounts to registrar - small 17.1.1


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REGISTERED NUMBER: 03185468 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017

FOR

NORTH QUAY TRADING LIMITED

NORTH QUAY TRADING LIMITED (REGISTERED NUMBER: 03185468)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NORTH QUAY TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2017







DIRECTOR: M H Lipson-Green





SECRETARY: Mrs S J Lipson-Green





REGISTERED OFFICE: Unit 47 Joseph Wilson Industrial Estate
Millstrood Road
Whitstable
Kent
CT5 3PS





REGISTERED NUMBER: 03185468 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
Thornhill House
26 Fisher Street
Maidstone
Kent
ME14 2SU

NORTH QUAY TRADING LIMITED (REGISTERED NUMBER: 03185468)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 10,609 11,367

CURRENT ASSETS
Inventories 53,000 91,000
Debtors 5 142,358 97,423
Cash in hand 18 18
195,376 188,441
CREDITORS
Amounts falling due within one year 6 250,232 228,636
NET CURRENT LIABILITIES (54,856 ) (40,195 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(44,247

)

(28,828

)

CREDITORS
Amounts falling due after more than one
year

7

(14,254

)

(42,244

)

PROVISIONS FOR LIABILITIES (1,341 ) -
NET LIABILITIES (59,842 ) (71,072 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (59,942 ) (71,172 )
SHAREHOLDERS' FUNDS (59,842 ) (71,072 )

NORTH QUAY TRADING LIMITED (REGISTERED NUMBER: 03185468)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2017


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 22 June 2017 and were signed by:





M H Lipson-Green - Director


NORTH QUAY TRADING LIMITED (REGISTERED NUMBER: 03185468)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017

1. STATUTORY INFORMATION

North Quay Trading Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total value, excluding value added tax, of sales earned during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

Inventories
Inventories 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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or
substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

NORTH QUAY TRADING LIMITED (REGISTERED NUMBER: 03185468)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2017

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2016 20,739 139,992 160,731
Additions - 2,784 2,784
At 30 April 2017 20,739 142,776 163,515
DEPRECIATION
At 1 May 2016 20,739 128,625 149,364
Charge for year - 3,542 3,542
At 30 April 2017 20,739 132,167 152,906
NET BOOK VALUE
At 30 April 2017 - 10,609 10,609
At 30 April 2016 - 11,367 11,367

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 141,108 97,423
Other debtors 1,250 -
142,358 97,423

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 85,921 93,953
Trade creditors 44,193 17,026
Taxation and social security 37,398 34,335
Other creditors 82,720 83,322
250,232 228,636

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans 14,254 42,244

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 20,965

NORTH QUAY TRADING LIMITED (REGISTERED NUMBER: 03185468)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2017

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank overdrafts 82,852 89,489
Bank loans 17,323 46,708
100,175 136,197

The company has provided a debenture in the form of a fixed charge over all assets of the company to secure all
the company's liabilities to the company's bankers.

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 May 2016 (71,172 )
Profit for the year 11,230
At 30 April 2017 (59,942 )

11. TRANSACTIONS WITH DIRECTORS

Mr M Lipson-Green has provided a personal guarantee for £34,500 for the obligations of the company to the
company bankers.

The directors' loan to the company at 30 April 2017 amounted to £79,625 (2016 - £80,413) and is included
under Creditors: Amounts falling due within one year on the balance sheet. The director pledges his continued
support to the company.

12. ULTIMATE CONTROLLING PARTY

The director controls the company by virtue of his shareholding in the company.

13. GOING CONCERN

The accounts have been prepared on a going concern basis due to the continued support given by the director.

14. FIRST YEAR ADOPTION

There have been no adjustments required to the amounts included in the financial statements as a result of the
transition from UK GAAP to FRS 102 accounting standards. As such, there is no need for Reconciliation of
Equity and Reconciliation of Profit and Loss statements.