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REGISTERED NUMBER: 01762674 (England and Wales)











Financial Statements

for the Year Ended 31st March 2023

for

QUINCEWOOD LIMITED

QUINCEWOOD LIMITED (REGISTERED NUMBER: 01762674)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUINCEWOOD LIMITED

Company Information
for the year ended 31st March 2023







DIRECTOR: U K Patel





SECRETARY: Mrs SU Patel





REGISTERED OFFICE: Meadowcroft
38 Grays Lane
Ashtead
SURREY
KT21 1BU





REGISTERED NUMBER: 01762674 (England and Wales)





ACCOUNTANTS: Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ

QUINCEWOOD LIMITED (REGISTERED NUMBER: 01762674)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,006 1,297

CURRENT ASSETS
Stocks 14,857 9,509
Debtors 5 110,428 108,272
Cash at bank 1,325,690 1,209,413
1,450,975 1,327,194
CREDITORS
Amounts falling due within one year 6 205,165 208,056
NET CURRENT ASSETS 1,245,810 1,119,138
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,246,816

1,120,435

PROVISIONS FOR LIABILITIES 191 246
NET ASSETS 1,246,625 1,120,189

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,246,525 1,120,089
SHAREHOLDERS' FUNDS 1,246,625 1,120,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

QUINCEWOOD LIMITED (REGISTERED NUMBER: 01762674)

Balance Sheet - continued
31st March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st May 2023 and were signed by:





U K Patel - Director


QUINCEWOOD LIMITED (REGISTERED NUMBER: 01762674)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Quincewood Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

QUINCEWOOD LIMITED (REGISTERED NUMBER: 01762674)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st April 2022
and 31st March 2023 40,258 2,077 8,691 51,026
DEPRECIATION
At 1st April 2022 39,922 1,858 7,949 49,729
Charge for year 84 22 185 291
At 31st March 2023 40,006 1,880 8,134 50,020
NET BOOK VALUE
At 31st March 2023 252 197 557 1,006
At 31st March 2022 336 219 742 1,297

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 92,338 95,576
VAT 16,193 10,770
Prepayments 1,897 1,926
110,428 108,272

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 159,835 149,963
Tax 39,859 46,065
Other creditors 139 5,156
Directors' current accounts 732 2,272
Accrued expenses 4,600 4,600
205,165 208,056