IRIS Accounts Production v23.4.0.336 04047421 director 1.9.22 31.8.23 31.8.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040474212022-08-31040474212023-08-31040474212022-09-012023-08-31040474212021-08-31040474212021-09-012022-08-31040474212022-08-3104047421ns15:EnglandWales2022-09-012023-08-3104047421ns14:PoundSterling2022-09-012023-08-3104047421ns10:Director12022-09-012023-08-3104047421ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3104047421ns10:SmallEntities2022-09-012023-08-3104047421ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3104047421ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3104047421ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3104047421ns10:FullAccounts2022-09-012023-08-3104047421ns10:CompanySecretary12022-09-012023-08-3104047421ns10:RegisteredOffice2022-09-012023-08-3104047421ns5:CurrentFinancialInstruments2023-08-3104047421ns5:CurrentFinancialInstruments2022-08-3104047421ns5:ShareCapital2023-08-3104047421ns5:ShareCapital2022-08-3104047421ns5:FurtherSpecificReserve1ComponentTotalEquity2023-08-3104047421ns5:FurtherSpecificReserve1ComponentTotalEquity2022-08-3104047421ns5:RetainedEarningsAccumulatedLosses2023-08-3104047421ns5:RetainedEarningsAccumulatedLosses2022-08-3104047421ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3104047421ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3104047421ns5:CurrentFinancialInstruments2022-09-012023-08-31
REGISTERED NUMBER: 04047421 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Quoin Limited

Quoin Limited (Registered number: 04047421)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quoin Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: Mrs J Barnes





SECRETARY: Mr A Barnes





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





BUSINESS ADDRESS: 108A High Street
Great Abington
Cambridge
Cambridgeshire
CB21 6AE





REGISTERED NUMBER: 04047421 (England and Wales)

Quoin Limited (Registered number: 04047421)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 549,000 525,000

CURRENT ASSETS
Debtors 6 432 342
Cash at bank 115,926 105,624
116,358 105,966
CREDITORS
Amounts falling due within one year 7 66,254 66,271
NET CURRENT ASSETS 50,104 39,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

599,104

564,695

PROVISIONS FOR LIABILITIES 57,142 52,582
NET ASSETS 541,962 512,113

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings - non
distributable 252,724 224,164
Retained earnings 289,236 287,947
SHAREHOLDERS' FUNDS 541,962 512,113

Quoin Limited (Registered number: 04047421)

Balance Sheet - continued
31 August 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2024 and were signed by:





Mrs J Barnes - Director


Quoin Limited (Registered number: 04047421)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Quoin 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Deferred tax is also recognised in respect of the surplus or deficit resulting from the revaluation of investment property at fair value.

Quoin Limited (Registered number: 04047421)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 525,000
Revaluations 24,000
At 31 August 2023 549,000
NET BOOK VALUE
At 31 August 2023 549,000
At 31 August 2022 525,000

Included in fair value of investment property is freehold land of £ 549,000 (2022 - £ 525,000 ) which is not depreciated.

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2007 71,746
Valuation in 2010 30,000
Valuation in 2017 100,000
Valuation in 2021 75,000
Valuation in 2023 24,000
Cost 248,254
549,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 248,254 248,254

The investment property was valued on an open market basis on 13 February 2023 by the directors of the company .

The directors have revised the valuation of the investment properties included in the financial statements to an estimated market value as at the date of the report in order to provide a true and fair view.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 432 342

Other debtors disclosed above consist of prepaid expenses of £432 (2022 - £342).

Quoin Limited (Registered number: 04047421)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 2,488 2,518
Other creditors 63,766 63,753
66,254 66,271

Other creditors disclosed above consist of accrued expenses of £880 (2022 - £880), directors' loan accounts of £35,886 (2022 - £35,873), and intercompany loan account balances of £27,000 (2022 - £27,000).