Quarton Electrical Services Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05020959 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st May 2017

for

Quarton Electrical Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A L Quarton

Mrs W Quarton

SECRETARY:

Mrs W Quarton

REGISTERED OFFICE:

First Floor

14 Market Place

Pocklington

York

East Yorkshire

YO42 2AR

REGISTERED NUMBER:

05020959 (England and Wales)

ACCOUNTANTS:

Pocklington Accountancy Ltd

First Floor

14 Market Place

Pocklington

York

East Yorkshire

YO42 2AR

FIXED ASSETS

Tangible assets

4

35,745

CURRENT ASSETS

Stocks

180

Debtors

5

21,564

Cash at bank and in hand

16,123

37,867

CREDITORS

Amounts falling due within one year

6

37,142

NET CURRENT ASSETS

725

TOTAL ASSETS LESS CURRENT LIABILITIES

36,470

CREDITORS

Amounts falling due after more than one year

7

13,177

NET ASSETS

23,293

CAPITAL AND RESERVES

Called up share capital

200

Retained earnings

23,093

SHAREHOLDERS' FUNDS

23,293

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 14th December 2017 and were signed on its behalf by:

Mrs W Quarton - Director

1.	STATUTORY INFORMATION

Quarton Electrical Services 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 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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

10% on reducing balance

Computer equipment

-

25% 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 3 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st June 2016

4,437

1,918

31,247

3,194

40,796

Additions

1,428

-

27,395

448

29,271

Disposals

-

-

(13,000

)

-

(13,000

)

At 31st May 2017

5,865

1,918

45,642

3,642

57,067

DEPRECIATION

At 1st June 2016

3,009

1,094

10,367

2,482

16,952

Charge for year

428

124

3,528

290

4,370

At 31st May 2017

3,437

1,218

13,895

2,772

21,322

NET BOOK VALUE

At 31st May 2017

2,428

700

31,747

870

35,745

At 31st May 2016

1,428

824

20,880

712

23,844

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

15,569

Other debtors

5,995

21,564

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

3,045

Hire purchase contracts

4,392

Trade creditors

8,183

Taxation and social security

17,936

Other creditors

3,586

37,142

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

13,177

8.	RELATED PARTY DISCLOSURES

The Company was under the control of Mr & Mrs Quarton by virtue of their shareholdings.