Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Quality Motor Company
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Quality Motor Company
for the Year Ended 30 September 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Quality Motor Company for the year ended 30 September 2015 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Quality Motor Company, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Quality Motor Company and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quality Motor Company and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Quality Motor Company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Quality Motor Company. You consider that Quality Motor Company is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Quality Motor Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Sujatha Renganathan FCCA-AIMS Accountants for Business
Chartered Certified Accountant
167 Kenmore Avenue
HA3 8PB
28 June 2016
Quality Motor Company
(Registration number: 07018433)
Abbreviated Balance Sheet at 30 September 2015
Note |
2015
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2014
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Fixed assets |
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Intangible fixed assets |
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Current assets |
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Stocks |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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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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Profit and loss account |
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Shareholders' funds |
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Approved by the director on
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Mr Mohammed Shahid Malik
Director
2
Quality Motor Company
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued
Accounting policies |
Basis of preparation
Turnover
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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Depreciation
Depreciation is charged over the estimated useful life of the asset.
Asset class |
Depreciation method and rate |
Office equipment |
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Stock
Financial instruments
Quality Motor Company
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued
Fixed assets |
Intangible assets
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Total
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Cost |
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At 1 October 2014 |
37,500 |
37,500 |
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At 30 September 2015 |
37,500 |
37,500 |
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Depreciation |
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At 1 October 2014 |
9,375 |
9,375 |
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Charge for the year |
1,875 |
1,875 |
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At 30 September 2015 |
11,250 |
11,250 |
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Net book value |
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At 30 September 2015 |
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At 30 September 2014 |
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Share capital |
Allotted, called up and fully paid shares
2015 |
2014 |
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No. |
£ |
No. |
£ |
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