Quest Joinery Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07588822 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

Quest Joinery Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

J Theakston

A Jackson

REGISTERED OFFICE:

Unit 16

Frogmore Industrial Estate

Frogmore Road

Hemel Hempstead

HP3 9RW

REGISTERED NUMBER:

07588822 (England and Wales)

ACCOUNTANTS:

Pace Accountants

Noble House

Eaton Road

Hemel Hempstead

Hertfordshire

HP2 7UB

FIXED ASSETS

Tangible assets

4

265,493

77,057

CURRENT ASSETS

Stocks

22,437

10,000

Debtors

5

582,706

317,531

Cash in hand

640,591

577,077

1,245,734

904,608

CREDITORS

Amounts falling due within one year

6

525,481

557,725

NET CURRENT ASSETS

720,253

346,883

TOTAL ASSETS LESS CURRENT LIABILITIES

985,746

423,940

CREDITORS

Amounts falling due after more than one year

7

(109,672

)

-

PROVISIONS FOR LIABILITIES

(45,206

)

(15,225

)

NET ASSETS

830,868

408,715

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

830,768

408,615

830,868

408,715

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 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 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 Board of Directors on 18 July 2017 and were signed on its behalf by:

J Theakston - Director

1.	STATUTORY INFORMATION

Quest Joinery Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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 etc

-

33% on cost and 10% on reducing balance

Stocks

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

obsolete and slow moving items.

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 have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 May 2016

-

87,828

9,235

Additions

11,491

196,057

4,652

Disposals

-

(6,935

)

(3,749

)

At 30 April 2017

11,491

276,950

10,138

DEPRECIATION

At 1 May 2016

-

21,747

3,008

Charge for year

2,298

25,801

841

Eliminated on disposal

-

(2,809

)

(1,289

)

At 30 April 2017

2,298

44,739

2,560

NET BOOK VALUE

At 30 April 2017

9,193

232,211

7,578

At 30 April 2016

-

66,081

6,227

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2016

4,301

14,692

116,056

Additions

-

21,230

233,430

Disposals

-

-

(10,684

)

At 30 April 2017

4,301

35,922

338,802

DEPRECIATION

At 1 May 2016

1,075

13,169

38,999

Charge for year

1,076

8,392

38,408

Eliminated on disposal

-

-

(4,098

)

At 30 April 2017

2,151

21,561

73,309

NET BOOK VALUE

At 30 April 2017

2,150

14,361

265,493

At 30 April 2016

3,226

1,523

77,057

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

502,286

309,337

Other debtors

80,420

8,194

582,706

317,531

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts

36,588

-

Trade creditors

114,083

288,125

Taxation and social security

240,471

156,659

Other creditors

134,339

112,941

525,481

557,725

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts

109,672

-

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £69,920 were paid to the directors .

Loans from Directors outstanding at the year end amounted to £60,308 [2016 £60,308]

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2017 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Pace Accountants

Noble House

Eaton Road

Hemel Hempstead

Hertfordshire

HP2 7UB

18 July 2017