QL Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09258889 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2018

for

QL Homes Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A W White

REGISTERED OFFICE:

67 Church Road

Hove

East Sussex

BN3 2BD

REGISTERED NUMBER:

09258889 (England and Wales)

ACCOUNTANTS:

Shearers

Accountants & Chartered Tax Advisers

67 Church Road

Hove

East Sussex

BN3 2BD

FIXED ASSETS

Tangible assets

3

228,192

228,192

CURRENT ASSETS

Debtors

4

895

895

Cash at bank and in hand

3,664

2,762

4,559

3,657

CREDITORS

Amounts falling due within one year

5

61,430

61,531

NET CURRENT LIABILITIES

(56,871

)

(57,874

)

TOTAL ASSETS LESS CURRENT LIABILITIES

171,321

170,318

CREDITORS

Amounts falling due after more than one year

6

170,451

170,451

NET ASSETS/(LIABILITIES)

870

(133

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

869

(134

)

SHAREHOLDERS' FUNDS

870

(133

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 January 2019 and were signed by:

A W White - Director

1.	STATUTORY INFORMATION

QL Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

in accordance with the property

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 November 2017

and 31 October 2018

228,192

NET BOOK VALUE

At 31 October 2018

228,192

At 31 October 2017

228,192

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other debtors

895

895

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

235

513

Other creditors

61,195

61,018

61,430

61,531

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

170,451

170,451

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

170,451

170,451

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The amount at Other Creditors includes £59,700 (2017: £59,523) owed to the Director at the year end. The

Director has confirmed that he will not force early repayment of this amount.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A W White.