QA Primo Limited - Period Ending 2017-08-31
QA Primo Limited - Period Ending 2017-08-31
Registration number:
for the Year Ended
Pages for filing with Registrar
The Tramshed
25 Lower Park Row
Bristol
BS1 5BN
QA Primo Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
QA Primo Limited
Company Information
Director |
P W Scroggs |
Registered office |
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Registered number |
07278353 |
Accountants |
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QA Primo Limited
(Registration number: 07278353)
Balance Sheet as at 31 August 2017
Note |
2017 |
2016 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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- |
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- |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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For the financial 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.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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QA Primo Limited
(Registration number: 07278353)
Balance Sheet as at 31 August 2017
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
P W Scroggs
Director
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QA Primo Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
Statutory information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
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QA Primo Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Impairment of non-financial assets
The company assesses at each reporting date whether an asset may be impaired. If any such indication exists the company estimates the recoverable amount of the asset. If it is not possible to estimate the recoverable amount of the individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount of an asset or cash-generating unit is the higher of its fair value less costs to sell and its value in use. If the recoverable amount is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in profit and loss unless the asset is carried at a revalued amount where the impairment loss of a revalued asset is a revalued decrease.
An impairment loss recognised for all assets is reversed in a subsequent period if and only if the reasons for the impairment loss have ceased to apply.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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QA Primo Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
There were no direct employees of the company during the year (2016 - none).
Taxation |
No liability to UK corporation tax arose on ordinary activities for the year ended
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QA Primo Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 September 2016 |
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Provision |
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Carrying amount |
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At 31 August 2017 |
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At 31 August 2016 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2017 |
2016 |
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Subsidiary undertakings |
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Unit 83
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Ordinary |
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England |
The principal activity of QA Corporate Ltd is |
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QA Primo Limited
Notes to the Financial Statements for the Year Ended 31 August 2017
The loss for the financial period of QA Corporate Ltd was £152,322 and the aggregate amount of capital and reserves at the end of the period was £(480,895). |
Debtors: amounts falling due within one year |
2017 |
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Other debtors |
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Creditors: amounts falling due within one year |
Note |
2017 |
2016 |
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Other creditors |
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Due after one year |
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Other creditors |
- |
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Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
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