Quanthill Limited 07271990 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is asset and property management Digita Accounts Production Advanced 6.30.9574.0 true true 07271990 2022-07-01 2023-06-30 07271990 2023-06-30 07271990 bus:Original 2023-06-30 07271990 core:CurrentFinancialInstruments 2023-06-30 07271990 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 07271990 bus:SmallEntities 2022-07-01 2023-06-30 07271990 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 07271990 bus:FullAccounts 2022-07-01 2023-06-30 07271990 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 07271990 bus:RegisteredOffice 2022-07-01 2023-06-30 07271990 bus:Director2 2022-07-01 2023-06-30 07271990 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07271990 countries:EnglandWales 2022-07-01 2023-06-30 07271990 2022-06-30 07271990 2021-07-01 2022-06-30 07271990 2022-06-30 07271990 core:CurrentFinancialInstruments 2022-06-30 07271990 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 07271990

Quanthill Limited
Annual Report and
Unaudited Financial Statements

30 June 2023

 

Quanthill Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Quanthill Limited

Balance Sheet
30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

130,384

128,478

Current assets

 

Stocks

5

195,577

192,717

Debtors

6

673

-

Cash at bank and in hand

 

733

7,789

 

196,983

200,506

Creditors: Amounts falling due within one year

7

(333,942)

(333,900)

Net current liabilities

 

(136,959)

(133,394)

Net liabilities

 

(6,575)

(4,916)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(6,675)

(5,016)

Shareholders' deficit

 

(6,575)

(4,916)

 

Quanthill Limited

Balance Sheet
30 June 2023

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The Director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 March 2024
 

.........................................
A J Chicken
Director

Company Registration Number: 07271990

 

Quanthill Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Tenterden Street
Bury
Lancashire
BL9 0EG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Quanthill Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Quanthill Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 July

128,478

Additions

1,906

At 30 June

130,384

There has been no valuation of investment property by an independent valuer.

5

Stocks

2023
£

2022
£

Property stock

195,577

192,717

6

Debtors

Current

2023
£

2022
£

Prepayments

673

-

 

673

-

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,032

990

Other creditors

332,910

332,910

333,942

333,900