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REGISTERED NUMBER: 01801702 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

QUARTIC ENGINEERING LTD

QUARTIC ENGINEERING LTD (REGISTERED NUMBER: 01801702)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUARTIC ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: S G Whitworth
J H Mannooch
Mrs M A Stephenson





SECRETARY: Mrs C A Whitworth





REGISTERED OFFICE: Priory Road
Strood
Rochester
Kent
ME2 2EG





REGISTERED NUMBER: 01801702 (England and Wales)





ACCOUNTANTS: The Carley Partnership
Second Floor South
The Fitted Rigging House, Anchor Wharf
The Historic Dockyard
Chatham
Kent
ME4 4TZ

QUARTIC ENGINEERING LTD (REGISTERED NUMBER: 01801702)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,323 29,279

CURRENT ASSETS
Stocks 3,250 3,250
Debtors 5 165,963 153,276
Cash at bank and in hand 30,147 235,494
199,360 392,020
CREDITORS
Amounts falling due within one year 6 137,460 339,360
NET CURRENT ASSETS 61,900 52,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,223

81,939

CREDITORS
Amounts falling due after more than one
year

7

(25,780

)

(35,650

)

PROVISIONS FOR LIABILITIES (5,341 ) (4,469 )
NET ASSETS 64,102 41,820

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 64,002 41,720
SHAREHOLDERS' FUNDS 64,102 41,820

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

QUARTIC ENGINEERING LTD (REGISTERED NUMBER: 01801702)

BALANCE SHEET - continued
31 JULY 2023


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 Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





S G Whitworth - Director


QUARTIC ENGINEERING LTD (REGISTERED NUMBER: 01801702)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Quartic Engineering Ltd 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.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

QUARTIC ENGINEERING LTD (REGISTERED NUMBER: 01801702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 227,282
Additions 11,955
Disposals (5,395 )
At 31 July 2023 233,842
DEPRECIATION
At 1 August 2022 198,003
Charge for year 7,507
Eliminated on disposal (4,991 )
At 31 July 2023 200,519
NET BOOK VALUE
At 31 July 2023 33,323
At 31 July 2022 29,279

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 127,803 114,760
Other debtors 38,160 38,516
165,963 153,276

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,870 9,626
Trade creditors 66,240 103,365
Taxation and social security 29,042 184,983
Other creditors 32,308 41,386
137,460 339,360

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 25,780 35,650

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

QUARTIC ENGINEERING LTD (REGISTERED NUMBER: 01801702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the directors owed £9,750 (2022: £11,610) to the company, and the maximum balance outstanding during the year was £21,832. The loan has been repaid to the company since the year end.