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Company registration number: 09441047
Quabor Advisory Ltd
Unaudited filleted financial statements
28 February 2023
Quabor Advisory Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Quabor Advisory Ltd
Directors and other information
Directors L Geoghegan
F Kelly
Company number 09441047
Registered office The Clock House
Station Approach
Marlow
Bucks
SL7 1NT
Accountants Pink Affinity Limited
Quabor Advisory Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Quabor Advisory Ltd
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quabor Advisory Ltd for the year ended 28 February 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Quabor Advisory Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Quabor Advisory Ltd and state those matters that we have agreed to state to the board of directors of Quabor Advisory Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quabor Advisory Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Quabor Advisory Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Quabor Advisory Ltd. You consider that Quabor Advisory Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Quabor Advisory Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Pink Affinity Limited
13 September 2023
Quabor Advisory Ltd
Statement of financial position
28 February 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 4 13,800 13,800
_______ _______
13,800 13,800
Current assets
Debtors 5 4,069 4,069
Cash at bank and in hand 200,165 187,463
_______ _______
204,234 191,532
Creditors: amounts falling due
within one year 6 ( 152,775) ( 126,544)
_______ _______
Net current assets 51,459 64,988
_______ _______
Total assets less current liabilities 65,259 78,788
Provisions for liabilities - ( 1,672)
_______ _______
Net assets 65,259 77,116
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 65,249 77,106
_______ _______
Shareholders funds 65,259 77,116
_______ _______
For the year ending 28 February 2023 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 year 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 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 Section 1A of 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 September 2023 , and are signed on behalf of the board by:
F Kelly
Director
Company registration number: 09441047
Quabor Advisory Ltd
Statement of changes in equity
Year ended 28 February 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 March 2021 10 94,452 94,462
Loss for the year ( 17,346) ( 17,346)
_______ _______ _______
Total comprehensive income for the year - ( 17,346) ( 17,346)
_______ _______ _______
At 28 February 2022 and 1 March 2022 10 77,106 77,116
Loss for the year ( 11,857) ( 11,857)
_______ _______ _______
Total comprehensive income for the year - ( 11,857) ( 11,857)
_______ _______ _______
At 28 February 2023 10 65,249 65,259
_______ _______ _______
Quabor Advisory Ltd
Notes to the financial statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Clock House, Station Approach, Marlow, Bucks, SL7 1NT.
2. 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
4. Investments
Other investments other than loans Total
£ £
Cost
At 1 March 2022 and 28 February 2023 13,800 13,800
_______ _______
Impairment
At 1 March 2022 and 28 February 2023 - -
_______ _______
Carrying amount
At 28 February 2023 13,800 13,800
_______ _______
At 28 February 2022 13,800 13,800
_______ _______
5. Debtors
2023 2022
£ £
Other debtors 4,069 4,069
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 4,326 4,326
Other creditors 148,449 122,218
_______ _______
152,775 126,544
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
L Geoghegan ( 39,563) ( 26,231) ( 65,794)
F Kelly ( 80,855) - ( 80,855)
_______ _______ _______
( 120,418) ( 26,231) ( 146,649)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
L Geoghegan ( 69,704) 30,141 ( 39,563)
F Kelly ( 64,543) ( 16,312) ( 80,855)
_______ _______ _______
( 134,247) 13,829 ( 120,418)
_______ _______ _______