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Company Registration No. 09428248 (England and Wales)
Quast Ltd Unaudited accounts for filing with the Registrar for the year ended 28 February 2018
Quast Ltd Unaudited accounts for filing with the Registrar Contents
Page
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Quast Ltd Company Information for the year ended 28 February 2018
Director
Gordon Baisley
Company Number
09428248 (England and Wales)
Registered Office
98 Fishpool Street St Albans AL3 4RX United Kingdom
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Quast Ltd Statement of financial position as at 28 February 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,231 
2,019 
Investments
1,000 
- 
3,231 
2,019 
Current assets
Debtors
178,042 
72,523 
Cash at bank and in hand
695 
224 
178,737 
72,747 
Creditors: amounts falling due within one year
(234,259)
(137,784)
Net current liabilities
(55,522)
(65,037)
Total assets less current liabilities
(52,291)
(63,018)
Creditors: amounts falling due after more than one year
(8,605)
- 
Net liabilities
(60,896)
(63,018)
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(61,896)
(64,018)
Shareholders' funds
(60,896)
(63,018)
For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 26 October 2018.
Gordon Baisley Director Company Registration No. 09428248
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Quast Ltd Notes to the Accounts for the year ended 28 February 2018
1
Statutory information
Quast Ltd is a private company, limited by shares, registered in England and Wales, registration number 09428248. The registered office is 98 Fishpool Street, St Albans, AL3 4RX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling which is the functional currency of the business.
Turnover
Turnover represents the value, net of Vat, of goods provided to customers and work carried out in respect of services provided to customers.
Pension costs
The company operates a defined contribution pension scheme. The assets of the company are held separately from those of the company in an independently administered fund. Contributions are charged to the profit and loss account as they become payable, in accordance with the rules of the scheme.
Tangible fixed assets and depreciation
Depreciation is provided on the cost of tangible fixed assets to write them down to their estimated residual value over their expected useful lives, as follows: Computer equipment 33.33 - 50% straight line Furniture & equipment 25% reducing balance
Going concern
These accounts have been prepared on a going concern basis which the director deems entirely appropriate having regard to the companies circumstances. They represent significant progress in revenue growth and establishment of profitability. The company is forecasting improved liquidity to be reflected in the 2019 accounts.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Trade and other debtors
Trade and other debtors are recognised at the transaction value, less any impairment.
Creditors and provisions
Trade creditors are recognised at their transaction value. Other creditors are included at fair value.
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Quast Ltd Notes to the Accounts for the year ended 28 February 2018
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 March 2017
3,254 
Additions
1,614 
Disposals
(550)
At 28 February 2018
4,318 
Depreciation
At 1 March 2017
1,235 
Charge for the year
1,150 
On disposals
(298)
At 28 February 2018
2,087 
Net book value
At 28 February 2018
2,231 
At 28 February 2017
2,019 
5
Transactions with related parties
At 28 February 2018 there was a balance owing to the director of £42,087 (2017: £66,250). The loan is interest free and repayable on demand.
6
Average number of employees
During the year the average number of employees was 5 (2017: 4).
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