Surf AccountsProduction v1.0.0 v1.0.0 2021-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the comapny is engineering. 13 September 2022 0 0 NI646761 2022-03-31 NI646761 2021-03-31 NI646761 2020-03-31 NI646761 2021-04-01 2022-03-31 NI646761 2020-04-01 2021-03-31 NI646761 uk-bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 NI646761 uk-bus:AbridgedAccounts 2021-04-01 2022-03-31 NI646761 uk-core:ShareCapital 2022-03-31 NI646761 uk-core:ShareCapital 2021-03-31 NI646761 uk-core:RetainedEarningsAccumulatedLosses 2022-03-31 NI646761 uk-core:RetainedEarningsAccumulatedLosses 2021-03-31 NI646761 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-03-31 NI646761 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-03-31 NI646761 uk-bus:FRS102 2021-04-01 2022-03-31 NI646761 uk-core:PlantMachinery 2021-04-01 2022-03-31 NI646761 uk-core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 NI646761 2021-04-01 2022-03-31 NI646761 uk-bus:Director1 2021-04-01 2022-03-31 NI646761 uk-bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Quarry & Recycling Solutions Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2022



Quarry & Recycling Solutions Ltd
Company Registration Number: NI646761
ABRIDGED BALANCE SHEET
as at 31 March 2022

2022 2021
Notes £ £
 
Fixed Assets
Tangible assets 4 346,473 265,592
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Current Assets
Stocks 401,236 592,783
Debtors 526,805 295,985
Cash and cash equivalents 5,860 50,971
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933,901 939,739
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Creditors: amounts falling due within one year (632,989) (736,835)
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Net Current Assets 300,912 202,904
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Total Assets less Current Liabilities 647,385 468,496
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Capital and Reserves
Called up share capital 100 1
Retained earnings 647,285 468,495
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Equity attributable to owners of the company 647,385 468,496
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These abridged financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 13 September 2022 and signed on its behalf by
           
           
________________________________          
Douglas Watt          
Director          
           



Quarry & Recycling Solutions Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2022

   
1. General Information
 
Quarry & Recycling Solutions Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is. The principal activity of the comapny is engineering. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 March 2022 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Cash flow statement
The company has availed of the exemption in FRS 102 from the requirement to prepare a Cash Flow Statement because it is classified as a small company.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 10% Straight line
  Fixtures, fittings and equipment - 10% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 0, (2021 - 0).
         
4. Tangible assets
  Plant and Fixtures, Total
  machinery fittings and  
    equipment  
  £ £ £
Cost
At 1 April 2021 291,017 10,306 301,323
Additions 103,587 6,096 109,683
  ───────── ───────── ─────────
At 31 March 2022 394,604 16,402 411,006
  ───────── ───────── ─────────
Depreciation
At 1 April 2021 33,174 2,557 35,731
Charge for the financial year 27,160 1,642 28,802
  ───────── ───────── ─────────
At 31 March 2022 60,334 4,199 64,533
  ───────── ───────── ─────────
Net book value
At 31 March 2022 334,270 12,203 346,473
  ═════════ ═════════ ═════════
At 31 March 2021 257,843 7,749 265,592
  ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 March 2022.
   
6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.