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REGISTERED NUMBER: 08520641 (England and Wales)









Financial Statements

for the Year Ended 30 June 2023

for

Ollie Quinn UK Limited

Ollie Quinn UK Limited (Registered number: 08520641)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Ollie Quinn UK Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: M Andersen
J Ferrebee





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 08520641 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Ollie Quinn UK Limited (Registered number: 08520641)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 433,526 595,404

CURRENT ASSETS
Stocks 144,592 145,393
Debtors 5 621,286 770,140
Cash at bank and in hand 906,766 272,062
1,672,644 1,187,595
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

(6,359,773

)

(5,520,538

)
NET CURRENT LIABILITIES (4,687,129 ) (4,332,943 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,253,603

)

(3,737,539

)

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

(554,289

)

(510,638

)
NET LIABILITIES (4,807,892 ) (4,248,177 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,807,992 ) (4,248,277 )
(4,807,892 ) (4,248,177 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





M Andersen - Director


Ollie Quinn UK Limited (Registered number: 08520641)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Ollie Quinn UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Ollie Quinn UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised when the goods are sold.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings 20% - 33.33% on cost
Plant and machinery etc 20% - 50% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

Ollie Quinn UK Limited (Registered number: 08520641)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The financial statements have been prepared on the going concern basis notwithstanding the fact that the company made a loss in the current year and has net current liabilities. The going concern basis assumes the support of its parent company, Ollie Quinn Limited, such support having been pledged for at least 12 months from the date of approval of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 90 (2022 - 68 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 1,052,374 420,148 1,472,522
Additions 20,259 33,034 53,293
Disposals - (41,250 ) (41,250 )
At 30 June 2023 1,072,633 411,932 1,484,565
DEPRECIATION
At 1 July 2022 607,320 269,798 877,118
Charge for year 139,945 43,318 183,263
Eliminated on disposal - (9,342 ) (9,342 )
At 30 June 2023 747,265 303,774 1,051,039
NET BOOK VALUE
At 30 June 2023 325,368 108,158 433,526
At 30 June 2022 445,054 150,350 595,404

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,155 1,635
Amounts owed by group undertakings 344,670 492,653
Other debtors 275,461 275,852
621,286 770,140

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 103,334 82,501
Trade creditors 222,872 274,531
Amounts owed to group undertakings 5,735,263 4,919,251
Taxation and social security 142,558 87,600
Other creditors 155,746 156,655
6,359,773 5,520,538

Ollie Quinn UK Limited (Registered number: 08520641)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 218,179 186,457
Other creditors 336,110 324,181
554,289 510,638

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,408 -

8. LEASING AGREEMENTS
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £2,562,347 (2022: £2,919,670).

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 136,683 182,292

The bank loan is secured by a fixed and floating charge over all the assets of the company.

10. RELATED PARTY DISCLOSURES

The disclosure requirement of Section 1A of FRS 102 allows the company not to disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member.

Included in other creditors due in more than one year at the year end are amounts of £144,365 (2022: £144,365) and £179,816 (2022: £179,816) due to former directors D Garrett and B Moffitt respectively. These balances have been provided unsecured, interest free and will be repaid in accordance with the agreements.