Quadmost Engineering Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03118417 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Quadmost Engineering Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

D P Wareham

SECRETARY:

Mrs J Wareham

REGISTERED OFFICE:

28 Bunting Close

St Leonards on Sea

East Sussex

TN38 8DG

BUSINESS ADDRESS:

Unit 10

Ivyhouse Lane

Hasting

East Sussex

TN35 4NN

REGISTERED NUMBER:

03118417 (England and Wales)

ACCOUNTANTS:

Deeks Evans

Chartered Accountants

36 Cambridge Road

Hastings

East Sussex

TN34 1DU

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Quadmost Engineering Limited for the year ended 31 July 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Quadmost Engineering Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quadmost Engineering Limited and state those matters that we have agreed to state to the director of Quadmost Engineering Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quadmost Engineering Limited and its director for our work or for this report.

It is your duty to ensure that Quadmost Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quadmost Engineering Limited. You consider that Quadmost Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Quadmost Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Deeks Evans

Chartered Accountants

36 Cambridge Road

Hastings

East Sussex

TN34 1DU

30 January 2018

FIXED ASSETS

Tangible assets

4

25,325

32,018

CURRENT ASSETS

Stocks

15,900

20,700

Debtors

5

32,229

55,175

Cash at bank

53,457

22,949

101,586

98,824

CREDITORS

Amounts falling due within one year

6

49,261

55,651

NET CURRENT ASSETS

52,325

43,173

TOTAL ASSETS LESS CURRENT LIABILITIES

77,650

75,191

PROVISIONS FOR LIABILITIES

4,400

5,900

NET ASSETS

73,250

69,291

CAPITAL & RESERVES

Called up share capital

7

100

100

Retained earnings

73,150

69,191

SHAREHOLDERS' FUNDS

73,250

69,291

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 Income Statement has not been delivered.

The financial statements were approved by the director on 30 January 2018 and were signed by:

D P Wareham - Director

1.	STATUTORY INFORMATION

Quadmost Engineering 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 & machinery

-

20% on reducing balance

Fixtures & fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	TANGIBLE FIXED ASSETS

Plant &

Fixtures

Motor

Computer

machinery

& fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2016

32,505

15,627

90,211

-

138,343

Additions

-

-

-

1,227

1,227

At 31 July 2017

32,505

15,627

90,211

1,227

139,570

DEPRECIATION

At 1 August 2016

29,465

12,041

64,819

-

106,325

Charge for year

608

717

6,349

246

7,920

At 31 July 2017

30,073

12,758

71,168

246

114,245

NET BOOK VALUE

At 31 July 2017

2,432

2,869

19,043

981

25,325

At 31 July 2016

3,040

3,586

25,392

-

32,018

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

32,229

55,175

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

3,339

Trade creditors

18,737

31,690

Corporation tax

9,618

1,566

Social security & other taxes

4,015

4,556

VAT

9,607

8,379

Other creditors

4,355

1,727

Directors' current accounts

409

1,009

Accrued expenses

2,520

3,385

49,261

55,651

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

20

Ordinary

£1

20

20

70

A Ordinary

£1

70

70

10

B ordinary

£1

10

10

100

100

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D P Wareham.