Company Registration No. 06464092 (England and Wales)
QUBA HOLDINGS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2015
QUBA HOLDINGS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
QUBA HOLDINGS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Investments
2
1,562,500
1,562,500
Current assets
Debtors
618,023
618,023
Cash at bank and in hand
1,714
1,714
619,737
619,737
Creditors: amounts falling due within one year
(1,817)
(1,817)
Net current assets
617,920
617,920
Total assets less current liabilities
2,180,420
2,180,420
Capital and reserves
Called up share capital
3
333
333
Share premium account
2,947,821
2,947,821
Profit and loss account
(767,734)
(767,734)
Shareholders' funds
2,180,420
2,180,420
For the financial Period ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the Period 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 October 2015
Mrs M Li
Director
Company Registration No. 06464092
QUBA HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
T
he major investor in the ultimate parent
company, Quba Maritime Limited
has undertaken to provide working capital as and when required and, as a consequence, the directors
believe that the company and its subsidiary will have adequate resources to continue in operational
existence for the foreseeable future.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Investments
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2
Fixed assets
Investments
£
Cost
At 1 February 2014 & at 31 March 2015
1,562,500
At 31 January 2014
1,562,500
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Quba Sails Ltd
UK
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Quba Sails Ltd
Retail
(1,247,872)
(751,709)
QUBA HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
33,300 Ordinary of 1p each
333
333
4
Related party relationships and transactions
Quba Sails Limited
(Subsidiary undertaking)
During the year the company
continued to provide a loan
to its subsidiary of £618,023. At the balance sheet date the
amount due from/(to) Quba Sails Limited was £618,023 (2013 £
618,023
).
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
-
-
-
-
-