Company Registration No. 08651622 (England and Wales)
Qhor Limited
Unaudited accounts
for the year ended 31 August 2017
Qhor Limited
Unaudited accounts
Contents
Qhor Limited
Company Information
for the year ended 31 August 2017
Company Number
08651622 (England and Wales)
Registered Office
DEANSFIELD HOUSE
98 LANCASTER ROAD
NEWCASTLE UNDER LYME
STAFFORDSHIRE
ST5 1DS
Accountants
Jacksons, Chartered Accountants
98 Lancaster Road
Newcastle under Lyme
Staffordshire
ST5 1DS
Qhor Limited
Statement of financial position
as at 31 August 2017
Cash at bank and in hand
2,766
1,224
Creditors: amounts falling due within one year
(5,732)
(5,777)
Net current liabilities
(2,453)
(372)
Total assets less current liabilities
2,409
617
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
1,385
319
Shareholders' funds
1,485
419
For the year ending 31 August 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 20 May 2018.
Massih Qhoraish
Director
Company Registration No. 08651622
Qhor Limited
Notes to the Accounts
for the year ended 31 August 2017
Qhor Limited is a private company, limited by shares, registered in England and Wales, registration number 08651622. The registered office is DEANSFIELD HOUSE, 98 LANCASTER ROAD, NEWCASTLE UNDER LYME, STAFFORDSHIRE, ST5 1DS.
2
Compliance with accounting standards
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The entity transitioned from previous UK GAAP to FRS 102 as at 1 September 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Computer equipment - 33% straight line
Fittings fixtures and equipment - 25% reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Qhor Limited
Notes to the Accounts
for the year ended 31 August 2017
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 September 2016
3,725
1,575
5,300
At 31 August 2017
4,391
6,455
10,846
At 1 September 2016
3,401
910
4,311
Charge for the year
286
1,387
1,673
At 31 August 2017
3,687
2,297
5,984
At 31 August 2017
704
4,158
4,862
At 31 August 2016
324
665
989
6
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
4,854
5,777
Loans from directors
878
-
7
Deferred taxation
2017
2016
Accelerated capital allowances
924
198
Provision at start of year
198
403
Charged/(credited) to the profit and loss account
726
(205)
Provision at end of year
924
198
Qhor Limited
Notes to the Accounts
for the year ended 31 August 2017
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
2017
4,030
54,772
59,680
(878)
2016
(2,630)
59,350
52,690
4,030
1,400
114,122
112,370
3,152
9
Transactions with related parties
Mr M Qhoraish is a related party by virtue of his directorship and shareholding in the company.
During the period Mr Qhoraish introduced monies into the company in the sum of £4,908 (2016: monies
withdrawn £6,660).
As at 31 August 2016 the company owed Mr Qhoraish £878 (2016: owed the company £4,030).
During the Mr Qhoraish received directors remuneration in the sum of £ 11,208 (2016: £ 10,902).
10
Average number of employees
During the year the average number of employees was 3 (2016: 3).
11
Reconciliations on adoption of FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 September 2015.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.
