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Registered Number: 07112222
England and Wales

 

 

 

QUAY CONCRETE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Directors Mr R M Welsh
R M Welsh
Registered Number 07112222
Registered Office Unit 34
Lune Industrial Estate
Lancaster
Lancashire
LA1 5QP
Accountants Kazbor Services Limited
102 Fairhope Avenue
Bare
Morecambe
Lancashire
LA4 6LA
Secretary Mrs M E Welsh
Bankers NatWest
Church Street
Lancaster
Lancashire


1
As described in the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2023 and you consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
Kazbor Services Limited
102 Fairhope Avenue
Bare
Morecambe
Lancashire
LA4 6LA
06 October 2023
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 187,072    254,241 
187,072    254,241 
Current assets      
Stocks 4 43,000    81,114 
Debtors: amounts falling due within one year 5 525,286    256,852 
Cash at bank and in hand 238,928    113,193 
807,214    451,159 
Creditors: amount falling due within one year 6 (674,900)   (539,062)
Net current assets 132,314    (87,903)
 
Total assets less current liabilities 319,386    166,338 
Provisions for liabilities 7 (44,314)   (23,053)
Net assets 275,072    143,285 
 

Capital and reserves
     
Called up share capital 8 1    1 
Profit and loss account 275,071    143,284 
Shareholder's funds 275,072    143,285 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 06 October 2023 and were signed on its behalf by:


-------------------------------
Mr R M Welsh
Director
3
General Information
Quay Concrete Limited is a private company, limited by shares, registered in England and Wales, registration number 07112222, registration address Unit 34, Lune Industrial Estate, Lancaster, Lancashire, LA1 5QP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The director continues to assess the impact of COVID-19 but following the relaxation of COVID rules they are of the opinion that this has had little affect on the company's performance. The company's trading has continued to improve during the period and the director is of the opinion that the company is in a good financial position to manage its business risks for the foreseeable future. Therefore, the going concern basis of accounting continues to be used for the preparation of the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised in the financial statements on the basis of invoiced sales following delivery of the goods or services arising during the ordinary course of the business, and, at which point the risks and rewards of ownership have passed to the buyer.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Taxation
The current tax payable is based on the taxable profit or loss for the period. The taxable profit or loss may differ from that reported in the financial statements because adjustments are made for items that are treated differently for taxation compared to their treatment for accounting purposes. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and their treatment for accounting purposes. The deferred tax balance has not been discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings (Leasehold) 10 Years Straight Line
Plant and Machinery 4 Years Straight Line
Motor Vehicles 4 Years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employees services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments included within these financial statements are valued at the transaction price applicable at the time of the transaction.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

The average number of persons shown below includes directors:

Average number of employees during the year was 11 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Land and Buildings (Leasehold)   Plant and Machinery   Motor Vehicles   Total
  £   £   £   £
At 01 April 2022 12,000    49,303    653,407    714,710 
Additions   39,531    4,000    43,531 
Disposals     (166,000)   (166,000)
At 31 March 2023 12,000    88,834    491,407    592,241 
Depreciation
At 01 April 2022 1,200    33,196    426,073    460,469 
Charge for year 1,200    9,269    67,031    77,500 
On disposals     (132,800)   (132,800)
At 31 March 2023 2,400    42,465    360,304    405,169 
Net book values
Closing balance as at 31 March 2023 9,600    46,369    131,103    187,072 
Opening balance as at 01 April 2022 10,800    16,107    227,334    254,241 


4.

Stocks

2023
£
  2022
£
Raw Materials 43,000    81,114 
43,000    81,114 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 501,527    234,914 
Prepayments & Accrued Income 21,718    18,614 
Other Debtors 2,041    3,324 
525,286    256,852 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 202,467    157,540 
Taxation and Social Security 61,904    29,637 
Other Creditors 410,529    351,885 
674,900    539,062 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax b/f 23,053    19,181 
Deferred Tax Charged for the Period 21,261    3,872 
44,314    23,053 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Ord share of £1.00 each  
 

4