Abbreviated Company Accounts - QUALITY & PRECISION LIMITED

SPECIAL BRANCH FURNITURE LIMITED - Company Information

07789467 QUALITY & PRECISION LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true 07789467 2013-04-01 2014-03-31 07789467 2014-03-31 07789467 2013-03-31 07789467 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 07789467 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 iso4217:GBP shares

Registered Number 07789467

QUALITY & PRECISION LIMITED

Abbreviated Accounts

31 March 2014

QUALITY & PRECISION LIMITED Registered Number 07789467

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	5,807	5,717
		5,807	5,717
Current assets
Debtors		1,731	239
Cash at bank and in hand		511	1,803
		2,242	2,042
Creditors: amounts falling due within one year		(6,294)	(5,476)
Net current assets (liabilities)		(4,052)	(3,434)
Total assets less current liabilities		1,755	2,283
Total net assets (liabilities)		1,755	2,283
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		1,754	2,282
Shareholders' funds		1,755	2,283

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 10 December 2014

And signed on their behalf by:
Marc Ellis, Director

QUALITY & PRECISION LIMITED Registered Number 07789467

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total gross invoice value of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Plant and machinery - 25% reducing balance
Fixtures, fittings and equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Other accounting policies
Going concern:

The director has reviewed the twelve months ahead and has considered the company's financial position and note there are no material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern irrespective of the adverse balance sheet.

2Tangible fixed assets

	£
Cost
At 1 April 2013	8,741
Additions	1,829
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	10,570
Depreciation
At 1 April 2013	3,024
Charge for the year	1,739
On disposals	-
At 31 March 2014	4,763
Net book values
At 31 March 2014	5,807
At 31 March 2013	5,717

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
1 Ordinary shares of £1 each	1	1