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COMPANY REGISTRATION NUMBER: 07626367
CQX Limited
Filleted Unaudited Financial Statements
31 May 2017
CQX Limited
Financial Statements
Year ended 31 May 2017
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
CQX Limited
Officers and Professional Advisers
Director
Mr B Clifford
Registered office
7 Broke Court
Guildford
Surrey
GU4 7HQ
Accountants
Shipleys LLP
Chartered Accountants
5 Godalming Business Centre
Woolsack Way
Godalming
Surrey
GU7 1XW
CQX Limited
Statement of Financial Position
31 May 2017
2017
2016
Note
£
£
£
Current assets
Debtors
6
1,512
437
Cash at bank and in hand
1,252
5,904
-------
-------
2,764
6,341
Creditors: amounts falling due within one year
7
( 6,808)
( 6,016)
-------
-------
Net current (liabilities)/assets
( 4,044)
325
-------
----
Total assets less current liabilities
( 4,044)
325
-------
----
Net (liabilities)/assets
( 4,044)
325
-------
----
Capital and reserves
Called up share capital
256
256
Profit and loss account
( 4,300)
69
-------
----
Members (deficit)/funds
( 4,044)
325
-------
----
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 income and retained earnings has not been delivered.
For the year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 12 February 2018 , and are signed on behalf of the board by:
Mr B Clifford
Director
Company registration number: 07626367
CQX Limited
Notes to the Financial Statements
Year ended 31 May 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Broke Court, Guildford, Surrey, GU4 7HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, '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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis notwithstanding the deficit on members funds as the director has expressed a willingness to support the company for the foreseeable future.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 June 2016 and 31 May 2017
1,554
1,554
-------
-------
Depreciation
At 1 June 2016 and 31 May 2017
1,554
1,554
-------
-------
Carrying amount
At 31 May 2017
-------
-------
6. Debtors
2017
2016
£
£
Other debtors
1,512
437
-------
----
7. Creditors: amounts falling due within one year
2017
2016
£
£
Corporation tax
3,888
Other creditors
6,808
2,128
-------
-------
6,808
6,016
-------
-------
8. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.
No transitional adjustments were required in equity or profit or loss for the year.

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