Quality Sino Merchandise Limited - Accounts to registrar - small 17.2
Quality Sino Merchandise Limited - Accounts to registrar - small 17.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
FOR |
QUALITY SINO MERCHANDISE LIMITED |
QUALITY SINO MERCHANDISE LIMITED (REGISTERED NUMBER: 00758091) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
QUALITY SINO MERCHANDISE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
& Statutory Auditors |
Arrowsmith Court |
Station Approach |
Broadstone |
Dorset |
BH18 8AT |
QUALITY SINO MERCHANDISE LIMITED (REGISTERED NUMBER: 00758091) |
ABRIDGED BALANCE SHEET |
31 MARCH 2017 |
2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investments | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 5 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
QUALITY SINO MERCHANDISE LIMITED (REGISTERED NUMBER: 00758091) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2017 |
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 its behalf by: |
QUALITY SINO MERCHANDISE LIMITED (REGISTERED NUMBER: 00758091) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
1. | STATUTORY INFORMATION |
Quality Sino Merchandise Limited is a |
Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the value of goods and services supplied during the year, excluding value added |
tax. |
Tangible fixed assets |
Fixtures and fittings | - |
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. |
QUALITY SINO MERCHANDISE LIMITED (REGISTERED NUMBER: 00758091) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
3. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 April 2016 |
Revaluations |
At 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Charge for year |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
Cost or valuation at 31 March 2017 is represented by: |
Totals |
£ |
Valuation in 2013 | 520,000 |
Valuation in 2014 | 65,000 |
Valuation in 2017 | 38,000 |
Cost | 14,336 |
637,336 |
If the investment properties had not been revalued they would have been included at the following |
historical cost: |
2017 | 2016 |
£ | £ |
Cost | 366,357 | 366,357 |
Investment properties were valued on an open market basis on 21 June 2017 by the director . |
QUALITY SINO MERCHANDISE LIMITED (REGISTERED NUMBER: 00758091) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
4. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST OR VALUATION |
At 1 April 2016 | 317,495 |
Additions | 23,014 |
Disposals | (90,946 | ) |
Revaluations | 36,482 |
At 31 March 2017 | 286,045 |
NET BOOK VALUE |
At 31 March 2017 | 286,045 |
At 31 March 2016 | 317,495 |
Cost or valuation at 31 March 2017 is represented by: |
Totals |
£ |
Cost | 286,045 |
If fixed asset investments had not been revalued they would have been included at the following |
historical cost: |
2017 | 2016 |
£ | £ |
Cost | 250,738 | 318,670 |
Fixed assets investments were valued on an open market basis on 30 April 2017 by Hargreaves Lansdown |
. |
5. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2016 |
Revaluations in year | 74,482 |
At 31 March 2017 |
QUALITY SINO MERCHANDISE LIMITED (REGISTERED NUMBER: 00758091) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
6. | ULTIMATE CONTROLLING PARTY |
P J Judge is the company's ultimate controlling party by virtue of his majority interest in the shares |
of the company. |