Ryan Quinn Caravans Ltd NI686092 false 2022-02-23 2023-02-28 2023-02-28 The principal activity of the company is Sale of other motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true true NI686092 2022-02-23 2023-02-28 NI686092 2023-02-28 NI686092 bus:Director1 2023-02-28 NI686092 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-28 NI686092 core:RetainedEarningsAccumulatedLosses 2023-02-28 NI686092 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 NI686092 core:FurnitureFittingsToolsEquipment 2023-02-28 NI686092 bus:FRS102 2022-02-23 2023-02-28 NI686092 bus:AuditExemptWithAccountantsReport 2022-02-23 2023-02-28 NI686092 bus:FullAccounts 2022-02-23 2023-02-28 NI686092 bus:RegisteredOffice 2022-02-23 2023-02-28 NI686092 bus:Director1 2022-02-23 2023-02-28 NI686092 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-02-23 2023-02-28 NI686092 bus:PrivateLimitedCompanyLtd 2022-02-23 2023-02-28 NI686092 bus:Agent1 2022-02-23 2023-02-28 NI686092 core:RetainedEarningsAccumulatedLosses 2022-02-23 2023-02-28 NI686092 core:FurnitureFittingsToolsEquipment 2022-02-23 2023-02-28 NI686092 core:PlantMachinery 2022-02-23 2023-02-28 NI686092 countries:NorthernIreland 2022-02-23 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI686092

Ryan Quinn Caravans Ltd

Annual Report and Unaudited Financial Statements

for the Period from 23 February 2022 to 28 February 2023

 

Ryan Quinn Caravans Ltd

Contents

Company Information

1

Strategic Report

2

Director's Report

3

Accountants' Report

4

Profit and Loss Account

5

Statement of Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 13

Detailed Profit and Loss Account

14 to 15

 

Ryan Quinn Caravans Ltd

Company Information

Director

Mr Ryan Quinn

Registered office

43 Kilnasaggart Road
Newry
Co. Down
BT35 8JQ

Accountants

G P Boyle & Company Ltd
Old Fire Station
Cecil Street
Newry
Co. Down
BT35 6AU

 

Ryan Quinn Caravans Ltd

Strategic Report for the Period from 23 February 2022 to 28 February 2023

The director presents his strategic report for the period from 23 February 2022 to 28 February 2023.

Principal activity

The principal activity of the company is Sale of other motor vehicles

Approved and authorised by the director on 23 November 2023
 

.........................................
Mr Ryan Quinn
Director

 

Ryan Quinn Caravans Ltd

Director's Report for the Period from 23 February 2022 to 28 February 2023

The director presents his report and the financial statements for the period from 23 February 2022 to 28 February 2023.

Incorporation

The company was incorporated on 23 February 2022.

Director of the company

The director who held office during the period was as follows:

Mr Ryan Quinn (appointed 23 February 2022)

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved and authorised by the director on 23 November 2023
 

.........................................
Mr Ryan Quinn
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ryan Quinn Caravans Ltd
for the Period 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 accounts of Ryan Quinn Caravans Ltd for the period ended 28 February 2023 as set out on pages 5 to 13 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/regulation.

This report is made solely to the Board of Directors of Ryan Quinn Caravans 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 accounts of Ryan Quinn Caravans Ltd and state those matters that we have agreed to state to the Board of Directors of Ryan Quinn Caravans 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 Ryan Quinn Caravans Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ryan Quinn Caravans Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ryan Quinn Caravans Ltd. You consider that Ryan Quinn Caravans Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Ryan Quinn Caravans 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 accounts.

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

G P Boyle & Company Ltd
Old Fire Station
Cecil Street
Newry
Co. Down
BT35 6AU

23 November 2023

 

Ryan Quinn Caravans Ltd

Profit and Loss Account for the Period from 23 February 2022 to 28 February 2023

Note

2023
£

Turnover

3

230,310

Cost of sales

 

(185,613)

Gross profit

 

44,697

Administrative expenses

 

(34,031)

Operating profit

4

10,666

Profit before tax

 

10,666

Profit for the financial period

 

10,666

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

Ryan Quinn Caravans Ltd

Statement of Comprehensive Income for the Period from 23 February 2022 to 28 February 2023

2023
£

Profit for the period

10,666

Total comprehensive income for the period

10,666

 

Ryan Quinn Caravans Ltd

(Registration number: NI686092)
Balance Sheet as at 28 February 2023

Note

2023
£

Fixed assets

 

Tangible assets

7

15,300

Current assets

 

Stocks

8

40,000

Cash at bank and in hand

 

5,123

 

45,123

Creditors: Amounts falling due within one year

11

(49,757)

Net current liabilities

 

(4,634)

Net assets

 

10,666

Capital and reserves

 

Retained earnings

10,666

Shareholders' funds

 

10,666

For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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.

Approved and authorised by the director on 23 November 2023
 

.........................................
Mr Ryan Quinn
Director

 

Ryan Quinn Caravans Ltd

Statement of Changes in Equity for the Period from 23 February 2022 to 28 February 2023

Retained earnings
£

Total
£

Profit for the period

10,666

10,666

At 28 February 2023

10,666

10,666

 

Ryan Quinn Caravans Ltd

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 28 February 2023

1

General information

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

The address of its registered office is:
43 Kilnasaggart Road
Newry
Co. Down
BT35 8JQ
Northern Ireland

These financial statements were authorised for issue by the director on 23 November 2023.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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:

 

Ryan Quinn Caravans Ltd

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 28 February 2023

Asset class

Depreciation method and rate

Plant and machinery

15% 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3

Turnover

The analysis of the company's revenue for the period from continuing operations is as follows:

23 February 2022 to 28 February 2023
 £

Sale of goods

230,310

4

Operating profit

Arrived at after charging/(crediting)

23 February 2022 to 28 February 2023
 £

Depreciation expense

2,700

5

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

 

Ryan Quinn Caravans Ltd

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 28 February 2023

23 February 2022 to 28 February 2023
 £

Wages and salaries

5,250

The average number of persons employed by the company (including the director) during the period, analysed by category was as follows:

2023
No.

Sales, marketing and distribution

1

1

6

Director's remuneration

The director's remuneration for the period was as follows:

23 February 2022 to 28 February 2023
 £

Remuneration

5,250

 

Ryan Quinn Caravans Ltd

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 28 February 2023

7

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

18,000

18,000

At 28 February 2023

18,000

18,000

Depreciation

Charge for the period

2,700

2,700

At 28 February 2023

2,700

2,700

Carrying amount

At 28 February 2023

15,300

15,300

8

Stocks

28 February 2023
 £

Other inventories

40,000

9

Debtors

Current

2023
£

10

Cash and cash equivalents

28 February 2023
 £

Cash at bank

5,123

11

Creditors

Note

28 February 2023
 £

Due within one year

 

trade creditors

 

24,325

Amounts due to related parties

25,123

Social security and other taxes

 

309

 

49,757

 

Ryan Quinn Caravans Ltd

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 28 February 2023

12

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

100

100

     
 

Ryan Quinn Caravans Ltd

Detailed Profit and Loss Account for the Period from 23 February 2022 to 28 February 2023

2023
£

Turnover (analysed below)

230,310

Cost of sales (analysed below)

(185,613)

Gross profit

44,697

Gross profit (%)

19.41%

Administrative expenses

Employment costs (analysed below)

(5,250)

Establishment costs (analysed below)

(3,546)

General administrative expenses (analysed below)

(22,509)

Finance charges (analysed below)

(26)

Depreciation costs (analysed below)

(2,700)

(34,031)

Operating profit

10,666

Profit before tax

10,666

 

Ryan Quinn Caravans Ltd

Detailed Profit and Loss Account for the Period from 23 February 2022 to 28 February 2023

2023
£

 

Turnover

Sales

230,310

 

Cost of sales

Materials

(1,290)

Purchases

(121,941)

Direct costs

(440)

Closing finished goods

40,000

Freight and carriage

(101,504)

Consumable tools

(438)

(185,613)

 

Employment costs

Directors remuneration

(5,250)

 

Establishment costs

Insurance

(1,522)

Repairs and renewals

(2,024)

(3,546)

 

General administrative expenses

Telephone and fax

(173)

Sundry expenses

(873)

Motor expenses

(20,464)

Parking charges

(52)

Travel and subsistence

(382)

Accountancy fees

(565)

(22,509)

 

Finance charges

Bank charges

(26)

 

Depreciation costs

Depreciation of plant and machinery (owned)

(2,700)