QM7 Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 07729559

QM7 Limited

Filleted Unaudited Financial Statements

31 March 2018

QM7 Limited

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Fixed assets

Investments	4		157	157

Current assets

Debtors	5	1,045		1,045

Creditors: amounts falling due within one year	6	6,902		6,902
		-------		-------
Net current liabilities			5,857	5,857
			-------	-------
Total assets less current liabilities			( 5,700)	( 5,700)
			-------	-------

Capital and reserves

Called up share capital	7	300	300
Profit and loss account		( 6,000)	( 6,000)
		-------	-------
Shareholders deficit		( 5,700)	( 5,700)
		-------	-------

These 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 statement of comprehensive income has not been delivered.

The company did not trade during the year and has not made either a profit or loss.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 22 November 2018 , and are signed on behalf of the board by:

Mr J W Hardy

Director

Company registration number: 07729559

QM7 Limited

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, England.

2. Statement of compliance

These 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 have been prepared on the historical cost basis.

Income statement

The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2017 and 31 March 2018	157
	----
Impairment
At 1 April 2017 and 31 March 2018	–
	----

Carrying amount
At 31 March 2018	157
	----
At 31 March 2017	157
	----

The company owns 52% of the issued share capital at the year end in Kite Power Solutions Limited a company incorporated in England and Wales.

5. Debtors

	2018	2017
	£	£
Other debtors	1,045	1,045
	-------	-------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Director loan accounts	6,000	6,000
Other creditors	902	902
	-------	-------
	6,902	6,902
	-------	-------

7. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	300	300.00	300	300.00
	----	--------	----	--------

8. Related party transactions

At the year end the company owed £ 902 (2016: £ 902 ) to a company in which a director is also a director and shareholder. At the year end the company owed £ 6,000 to the directors.