Quinton Arts Limited - Period Ending 2017-10-31

Registration number: 02102323

Quinton Arts Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2017

Grenfell James Associates Limited
13 The Courtyard
Timothys Bridge Road
Stratford-Upon-Avon
Warwickshire
CV37 9NP

Quinton Arts Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Quinton Arts Limited

Company Information

Directors

Mrs KL Nolan Mr J F Nolan

Registered office

Friday Cottage Lower Quinton Stratford Upon Avon Warwickshire CV37 8SQ

Registered number

02102323

Accountants

Grenfell James Associates Limited 13 The Courtyard Timothys Bridge Road Stratford-Upon-Avon Warwickshire CV37 9NP

Page 1

Quinton Arts Limited

(Registration number: 02102323)
Balance Sheet as at 31 October 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	1	1
Current assets
Debtors	5	-	630
Cash at bank and in hand		25,300	6,884
		25,300	7,514
Creditors: Amounts falling due within one year	6	(78,867)	(55,746)
Net current liabilities		(53,567)	(48,232)
Net liabilities		(53,566)	(48,231)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(53,666)	(48,331)
Total equity		(53,566)	(48,231)

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Board on 26 July 2018 and signed on its behalf by:
 

.........................................

Mr J F Nolan

Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Quinton Arts Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance
Plant and machinery	25% reducing balance

Page 3

Quinton Arts Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

Page 4

Quinton Arts Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

4	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 November 2016	10,393	4,898	15,291
At 31 October 2017	10,393	4,898	15,291
Depreciation
At 1 November 2016	10,393	4,897	15,290
At 31 October 2017	10,393	4,897	15,290
Carrying amount
At 31 October 2017	-	1	1
At 31 October 2016	-	1	1

5

Debtors

	2017 £	2016 £
Other debtors	-	630
	-	630

6

Creditors

Creditors: amounts falling due within one year

	2017 £	2016 £
Due within one year
Taxation and social security	2,393	-
Accruals and deferred income	800	800
Other creditors	75,674	54,946
	78,867	55,746

Page 5

Quinton Arts Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

7	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2017 £	2016 £
Remuneration	8,607	8,606

Page 6