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Registration number: 09420211

Quay Business Management Consultancy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2022

 

Quay Business Management Consultancy Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Quay Business Management Consultancy Ltd

Company Information

Directors

Miss Angela Marsden

Mr Glen Jones

Registered office

2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Quay Business Management Consultancy Ltd

(Registration number: 09420211)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

         

Fixed assets

   

Tangible assets

4

 

42,636

55,746

Current assets

   

Debtors

5

27,293

 

16,476

Cash at bank and in hand

 

104,907

 

62,607

 

132,200

 

79,083

Creditors: Amounts falling due within one year

6

(33,668)

 

(23,853)

Net current assets

   

98,532

55,230

Total assets less current liabilities

   

141,168

110,976

Provisions for liabilities

 

(8,101)

(10,592)

Net assets

   

133,067

100,384

Capital and reserves

   

Called up share capital

20

 

20

Profit and loss account

133,047

 

100,364

Total equity

   

133,067

100,384

 

Quay Business Management Consultancy Ltd

(Registration number: 09420211)
Balance Sheet as at 28 February 2022

For the financial year ending 28 February 2022 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 September 2022 and signed on its behalf by:
 

.........................................

Miss Angela Marsden
Director

 

Quay Business Management Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA
United Kingdom

These financial statements were authorised for issue by the Board on 13 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Quay Business Management Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Straight Line

Motor Vehicles

25% Reducing Balance

Equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Quay Business Management Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2021 - 1).

 

Quay Business Management Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2021

2,322

2,311

56,490

61,123

Additions

-

902

-

902

At 28 February 2022

2,322

3,213

56,490

62,025

Depreciation

At 1 March 2021

1,602

1,421

2,354

5,377

Charge for the year

180

298

13,534

14,012

At 28 February 2022

1,782

1,719

15,888

19,389

Carrying amount

At 28 February 2022

540

1,494

40,602

42,636

At 28 February 2021

720

890

54,136

55,746

5

Debtors

2022
£

2021
£

Trade debtors

26,448

15,504

Prepayments

845

972

27,293

16,476

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

30,036

21,804

Accruals and deferred income

1,050

1,050

Other creditors

2,582

999

33,668

23,853

 

Quay Business Management Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

7

Related party transactions

Transactions with directors

2022

At 1 March 2021
£

Advances to directors
£

Repayments by director
£

At 28 February 2022
£

Miss Angela Marsden

Director's Loan Account

(999)

77,331

(78,915)

(2,584)

         
       

 

2021

At 1 March 2020
£

Advances to directors
£

Repayments by director
£

At 28 February 2021
£

Miss Angela Marsden

Director's Loan Account

(15,263)

78,949

(64,686)

(999)