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REGISTERED NUMBER: 08844941 (England and Wales)









Financial Statements

for the Year Ended 30 June 2023

for

Ollie Quinn Limited

Ollie Quinn Limited (Registered number: 08844941)






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 Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: M Andersen
J Ferrebee
D J Halliday





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 08844941 (England and Wales)





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

Ollie Quinn Limited (Registered number: 08844941)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 159 159

CURRENT ASSETS
Debtors 5 5,748,360 4,921,721

CREDITORS
Amounts falling due within one year 6 (1,703,470 ) (302,168 )
NET CURRENT ASSETS 4,044,890 4,619,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,045,049

4,619,712

CREDITORS
Amounts falling due after more than one
year

7

(1,090,254

)

(1,358,915

)
NET ASSETS 2,954,795 3,260,797

CAPITAL AND RESERVES
Called up share capital 127 127
Share premium 4,588,554 4,588,554
Retained earnings (1,633,886 ) (1,327,884 )
2,954,795 3,260,797

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 Limited (Registered number: 08844941)

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

1. STATUTORY INFORMATION

Ollie Quinn 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.

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.

Going concern
These financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is based on the financial support from the shareholders.

Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Shares in group undertakings 159 159

Ollie Quinn Limited (Registered number: 08844941)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 5,735,263 4,919,251
Other debtors 13,097 2,470
5,748,360 4,921,721

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 1,703,470 302,168

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 1,090,254 1,358,915

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Loan notes 2023 200,000 200,000

9. 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 within other creditors due within one year at the year end are loans provided by shareholder, Foresight VCT Plc of £1,150,000 (2022: £200,000). Interest of £115,000 (2022: £20,000) has been charged on the loans during the year at a rate of 10%. Accrued interest payable when the loans mature amounted to £539,524 at year end.

Included within other creditors due in more than one year at the year end is a loan provided by shareholder, Foresight VCT Plc of £1,000,000 (2022: £950,000). Interest of £16,712 (2022: £95,000) has been charged on the loan during the year at a rate of 10%. Accrued interest payable when the loan matures amounted to £16,712 at year end.

Also included in other creditors due in more than one year at the year end are amounts of £42,650 (2022: £42,650) and £30,892 (2022: £30,892) 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.