Q-Box Limited Small abridged accounts

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Q-Box Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 05592292

Q-Box Limited

Filleted Unaudited Abridged Financial Statements

31 July 2017

Q-Box Limited

Abridged Financial Statements

Year ended 31 July 2017

Contents	Page

Officers and professional advisers	1

Abridged statement of financial position	2

Notes to the abridged financial statements	4

The following pages do not form part of the abridged financial statements

Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements	8

Q-Box Limited

Officers and Professional Advisers

Director	A. Poonie

Company Secretary	K. Poonie

Registered Office	The Old Post Office
	The Square Court Road Thurnby
	Leicester
	LE7 9PX

Accountants	Garratts Wolverhampton Limited
	Chartered accountant
	29 Waterloo Road
	Wolverhampton
	West Midlands
	WV1 4DJ

Q-Box Limited

Abridged Statement of Financial Position

31 July 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	5	4,631	7,016

Current assets

Debtors	140,847	156,200
Cash at bank and in hand	60,887	30,846
	---------	---------
	201,734	187,046

Creditors: amounts falling due within one year	23,305	19,652
	---------	---------
Net current assets	178,429	167,394
	---------	---------
Total assets less current liabilities	183,060	174,410

Provisions

Taxation including deferred tax	440	1,028
	---------	---------
Net assets	182,620	173,382
	---------	---------

Capital and reserves

Called up share capital	200	200
Profit and loss account	182,420	173,182
	---------	---------
Shareholders funds	182,620	173,382
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Q-Box Limited

Abridged Statement of Financial Position (continued)

31 July 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 19 April 2018 , and are signed on behalf of the board by:

A. Poonie
Director

Company registration number: 05592292

Q-Box Limited

Notes to the Abridged Financial Statements

Year ended 31 July 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Post Office, The Square Court Road Thurnby, Leicester, LE7 9PX.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax. Deferred tax assets are not recognised. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).

5. Tangible assets

	£
Cost
At 1 August 2016	33,047
Additions	499
Disposals	( 16,555)
	---------
At 31 July 2017	16,991
	---------
Depreciation
At 1 August 2016	26,031
Charge for the year	1,544
Disposals	( 15,215)
	---------
At 31 July 2017	12,360
	---------
Carrying amount
At 31 July 2017	4,631
	---------
At 31 July 2016	7,016
	---------

6. Director's advances, credits and guarantees

During the year there were no advances, credits or guarantees to the director. Amounts due to the director at the year end amounted to £3,912 (2016: Amounts due from the director amounted to £28,872).

7. Related party transactions

The company was under the control of the director throughout the current and previous year.

8. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.

No transitional adjustments were required in equity or profit or loss for the year.

Q-Box Limited

Management Information

Year ended 31 July 2017

The following pages do not form part of the abridged financial statements.

Q-Box Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Q-Box Limited

Year ended 31 July 2017

As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 July 2017, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Garratts Wolverhampton Limited Chartered accountant

29 Waterloo Road Wolverhampton West Midlands WV1 4DJ

19 April 2018