0 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-30 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 08551913 2022-03-30 2023-03-28 08551913 2023-03-28 08551913 2022-03-29 08551913 bus:Director1 2022-03-30 2023-03-28 08551913 core:WithinOneYear 2023-03-28 08551913 core:WithinOneYear 2022-03-29 08551913 core:AfterOneYear 2023-03-28 08551913 core:AfterOneYear 2022-03-29 08551913 core:ShareCapital 2023-03-28 08551913 core:ShareCapital 2022-03-29 08551913 core:RetainedEarningsAccumulatedLosses 2023-03-28 08551913 core:RetainedEarningsAccumulatedLosses 2022-03-29 08551913 bus:SmallEntities 2022-03-30 2023-03-28 08551913 bus:AuditExempt-NoAccountantsReport 2022-03-30 2023-03-28 08551913 bus:FullAccounts 2022-03-30 2023-03-28 08551913 bus:SmallCompaniesRegimeForAccounts 2022-03-30 2023-03-28 08551913 bus:PrivateLimitedCompanyLtd 2022-03-30 2023-03-28
COMPANY REGISTRATION NUMBER: 08551913
Quaybeck Limited
Filleted Unaudited Financial Statements
28 March 2023
Quaybeck Limited
Statement of Financial Position
28 March 2023
28 Mar 23
29 Mar 22
Note
£
£
£
Current assets
Debtors
4
81,257
97,542
Cash at bank and in hand
1,453
673
--------
--------
82,710
98,215
Creditors: amounts falling due within one year
5
59,510
55,456
--------
--------
Net current assets
23,200
42,759
--------
--------
Total assets less current liabilities
23,200
42,759
Creditors: amounts falling due after more than one year
6
21,667
31,667
--------
--------
Net assets
1,533
11,092
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
1,532
11,091
-------
--------
Shareholders funds
1,533
11,092
-------
--------
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 income and retained earnings has not been delivered.
For the period ending 28 March 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Quaybeck Limited
Statement of Financial Position (continued)
28 March 2023
These financial statements were approved by the board of directors and authorised for issue on 5 February 2024 , and are signed on behalf of the board by:
Mr C Fisher
Director
Company registration number: 08551913
Quaybeck Limited
Notes to the Financial Statements
Period from 30 March 2022 to 28 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. 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.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
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. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
4. Debtors
28 Mar 23
29 Mar 22
£
£
Other debtors
81,257
97,542
--------
--------
5. Creditors: amounts falling due within one year
28 Mar 23
29 Mar 22
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
19,724
15,221
Corporation tax
1,422
1,387
Social security and other taxes
330
814
Other creditors
28,034
28,034
--------
--------
59,510
55,456
--------
--------
6. Creditors: amounts falling due after more than one year
28 Mar 23
29 Mar 22
£
£
Bank loans and overdrafts
21,667
31,667
--------
--------
7. Director's advances, credits and guarantees
There are no transactions to disclose.
8. Related party transactions
The company was under the control of Mr C Fisher throughout the current and previous year. Mr C Fisher is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.