QT (North East) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06963856 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2017

for

QT (North East) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

J G Hawkey

REGISTERED OFFICE:

6 Cavalier Way

Silksworth

Sunderland

Tyne & Wear

SR3 1DJ

REGISTERED NUMBER:

06963856 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

FIXED ASSETS

Tangible assets

4

2,890

3,132

CURRENT ASSETS

Debtors

5

119,979

98,435

CREDITORS

Amounts falling due within one year

6

112,623

101,516

NET CURRENT ASSETS/(LIABILITIES)

7,356

(3,081

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,246

51

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

10,245

50

SHAREHOLDERS' FUNDS

10,246

51

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 23 November 2017 and were signed by:

J G Hawkey - Director

1.	STATUTORY INFORMATION

QT (North East) 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will

continue in operational existence for the foreseeable future, which is considered to be appropriate by the

director.

Reconciliation with previous generally accepted accounting practice

These financial statements for the year ended 31 July 2017 are the first financial statements that comply with

FRS 102 Section 1a "Small Entities" - "The Financial Reporting Standard applicable in the UK and Republic of

Ireland". The date of transition is 1 August 2015. In preparing the financial statements, the directors have

considered whether in applying the accounting policies required by FRS102 Section 1a "Small Entities", the

restatement of comparative items was required. The transition to FRS102 Section 1a "Small Entities" has not

resulted in any changes in accounting policies to those previously used .

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.

Computer equipment

-

Straight line over 6 years

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their

settlement value.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 August 2016

and 31 July 2017

7,038

DEPRECIATION

At 1 August 2016

3,906

Charge for year

242

At 31 July 2017

4,148

NET BOOK VALUE

At 31 July 2017

2,890

At 31 July 2016

3,132

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

119,874

96,542

Directors' current accounts

-

1,788

Tax

105

119,979

98,435

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Bank loans and overdrafts

25,220

29,157

Other loans

46,361

25,700

Trade creditors

6,208

19,513

Tax

4,866

4,794

Social security and other taxes

29,899

22,352

Directors' current accounts

69

-

112,623

101,516

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2017 and

31 July 2016:

2017

2016

£

J G Hawkey

Balance outstanding at start of year

1,788

(2,969

)

Amounts advanced

-

10,257

Amounts repaid

(1,857

)

(5,500

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(69

)

1,788

8.

CONTROL

The controlling party is J G Hawkey.

9.	FIRST YEAR ADOPTION

Upon adoption of FRS102 there were no transitional adjustments required

Transitional relief

The entity did not take advantage of any transitional reliefs

QT (North East) Limited - Accounts to registrar (filleted) - small 17.3

QT (North East) Limited - Accounts to registrar (filleted) - small 17.3