Company Registration No. 04445312 (England and Wales)
QUORUM DEVELOPMENT LTD
Unaudited accounts
for the year ended 31 May 2023
QUORUM DEVELOPMENT LTD
Unaudited accounts
Contents
QUORUM DEVELOPMENT LTD
Company Information
for the year ended 31 May 2023
Directors
N Fothergill
P Fothergill
P Usher
Company Number
04445312 (England and Wales)
Registered Office
Office F1, Explorer 2 Thomas Wright Way
Net Park
Sedgefield
County Durham
TS21 3FF
England
Accountants
Abacus Jack Ltd
New Century House
Crowther Road
Washington
Tyne and Wear
NE38 0QA
QUORUM DEVELOPMENT LTD
Statement of financial position
as at 31 May 2023
Tangible assets
89,868
60,614
Cash at bank and in hand
600,530
566,872
Creditors: amounts falling due within one year
(699,601)
(679,648)
Net current assets
308,138
277,146
Total assets less current liabilities
398,006
337,760
Provisions for liabilities
Deferred tax
(7,314)
(11,517)
Net assets
390,692
326,243
Called up share capital
61
61
Capital redemption reserve
56
56
Profit and loss account
390,575
326,126
Shareholders' funds
390,692
326,243
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by
P Fothergill
Director
Company Registration No. 04445312
QUORUM DEVELOPMENT LTD
Notes to the Accounts
for the year ended 31 May 2023
QUORUM DEVELOPMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 04445312. The registered office is Office F1, Explorer 2 Thomas Wright Way, Net Park, Sedgefield, County Durham, TS21 3FF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on cost
Fixtures & fittings
15% on cost
Computer equipment
20% on cost
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
31,558
10,139
162,100
203,797
Additions
47,520
-
22,982
70,502
Disposals
(31,558)
-
-
(31,558)
At 31 May 2023
47,520
10,139
185,082
242,741
At 1 June 2022
7,890
6,286
129,007
143,183
Charge for the year
8,555
1,359
14,241
24,155
On disposals
(14,465)
-
-
(14,465)
At 31 May 2023
1,980
7,645
143,248
152,873
At 31 May 2023
45,540
2,494
41,834
89,868
At 31 May 2022
23,668
3,853
33,093
60,614
QUORUM DEVELOPMENT LTD
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
Trade debtors
382,915
376,635
Accrued income and prepayments
21,706
11,501
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
25,604
26,892
Taxes and social security
171,224
140,255
Other creditors
5,615
4,348
Loans from directors
2,025
1,506
Deferred income
381,435
289,866
7
Average number of employees
During the year the average number of employees was 24 (2022: 19).