Silverfin false false 31/08/2023 01/09/2022 31/08/2023 C Beviss 20/04/2021 J Beviss 20/04/2021 J Mcveigh 20/04/2021 J Watt 20/04/2021 05 February 2024 The principal activity of the company during the financial period was that of a provider of outdoor educational activities. 13345924 2023-08-31 13345924 bus:Director1 2023-08-31 13345924 bus:Director2 2023-08-31 13345924 bus:Director3 2023-08-31 13345924 bus:Director4 2023-08-31 13345924 2022-08-31 13345924 core:CurrentFinancialInstruments 2023-08-31 13345924 core:CurrentFinancialInstruments 2022-08-31 13345924 core:ShareCapital 2023-08-31 13345924 core:ShareCapital 2022-08-31 13345924 core:RetainedEarningsAccumulatedLosses 2023-08-31 13345924 core:RetainedEarningsAccumulatedLosses 2022-08-31 13345924 core:PlantMachinery 2022-08-31 13345924 core:OfficeEquipment 2022-08-31 13345924 core:ComputerEquipment 2022-08-31 13345924 core:PlantMachinery 2023-08-31 13345924 core:OfficeEquipment 2023-08-31 13345924 core:ComputerEquipment 2023-08-31 13345924 2022-09-01 2023-08-31 13345924 bus:FilletedAccounts 2022-09-01 2023-08-31 13345924 bus:SmallEntities 2022-09-01 2023-08-31 13345924 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 13345924 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 13345924 bus:Director1 2022-09-01 2023-08-31 13345924 bus:Director2 2022-09-01 2023-08-31 13345924 bus:Director3 2022-09-01 2023-08-31 13345924 bus:Director4 2022-09-01 2023-08-31 13345924 core:PlantMachinery 2022-09-01 2023-08-31 13345924 core:OfficeEquipment 2022-09-01 2023-08-31 13345924 core:ComputerEquipment 2022-09-01 2023-08-31 13345924 2021-04-20 2022-08-31 iso4217:GBP xbrli:pure

Company No: 13345924 (England and Wales)

QUANTOCK OUTDOOR EDUCATION LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

QUANTOCK OUTDOOR EDUCATION LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

QUANTOCK OUTDOOR EDUCATION LIMITED

BALANCE SHEET

As at 31 August 2023
QUANTOCK OUTDOOR EDUCATION LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 31.08.2023 31.08.2022
£ £
Fixed assets
Tangible assets 3 8,903 2,515
8,903 2,515
Current assets
Debtors 4 86,978 37,378
Cash at bank and in hand 34,560 29,192
121,538 66,570
Creditors: amounts falling due within one year 5 ( 24,906) ( 11,029)
Net current assets 96,632 55,541
Total assets less current liabilities 105,535 58,056
Provision for liabilities ( 2,226) ( 629)
Net assets 103,309 57,427
Capital and reserves
Called-up share capital 1 1
Profit and loss account 103,308 57,426
Total shareholder's funds 103,309 57,427

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Quantock Outdoor Education Limited (registered number: 13345924) were approved and authorised for issue by the Director on 05 February 2024. They were signed on its behalf by:

J Beviss
Director
QUANTOCK OUTDOOR EDUCATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
QUANTOCK OUTDOOR EDUCATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Quantock Outdoor Education Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Prockters Farm Offices, West Monkton, Taunton, TA2 8QN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Office equipment 33 % reducing balance
Computer equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.08.2023
Period from
20.04.2021 to
31.08.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 September 2022 0 666 2,358 3,024
Additions 8,340 0 0 8,340
At 31 August 2023 8,340 666 2,358 11,364
Accumulated depreciation
At 01 September 2022 0 87 422 509
Charge for the financial year 1,114 193 645 1,952
At 31 August 2023 1,114 280 1,067 2,461
Net book value
At 31 August 2023 7,226 386 1,291 8,903
At 31 August 2022 0 579 1,936 2,515

4. Debtors

31.08.2023 31.08.2022
£ £
Trade debtors 32,671 20,850
Amounts owed by Group undertakings 53,687 183
Prepayments and accrued income 620 16,293
Other debtors 0 52
86,978 37,378

5. Creditors: amounts falling due within one year

31.08.2023 31.08.2022
£ £
Amounts owed to Group undertakings 163 1,902
Taxation and social security 21,959 2,879
Other creditors 2,784 6,248
24,906 11,029

6. Financial commitments

Commitments

31.08.2023 31.08.2022
£ £
Total future minimum lease payments under non-cancellable operating lease 60,000 0

The total amount of financial commitments not included in the balance sheet is £60,000 (2022 - £Nil).