QUAYWEST HOSPITALITY LIMITED

Company Registration Number:
NI690969 (Northern Ireland)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 7 September 2022

End date: 30 June 2023

QUAYWEST HOSPITALITY LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Additional notes
Balance sheet notes

QUAYWEST HOSPITALITY LIMITED

Balance sheet

As at 30 June 2023

Notes 10 months to 30 June 2023


£
Fixed assets
Tangible assets: 3 7,063
Total fixed assets: 7,063
Current assets
Stocks: 4 10,000
Cash at bank and in hand: 126,813
Total current assets: 136,813
Creditors: amounts falling due within one year: 5 ( 131,731 )
Net current assets (liabilities): 5,082
Total assets less current liabilities: 12,145
Provision for liabilities: ( 1,342 )
Total net assets (liabilities): 10,803
Capital and reserves
Called up share capital: 10
Profit and loss account: 10,793
Total Shareholders' funds: 10,803

The notes form part of these financial statements

QUAYWEST HOSPITALITY LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 March 2024
and signed on behalf of the board by:

Name: Thomas McBride
Status: Director

The notes form part of these financial statements

QUAYWEST HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

    Tangible fixed assets depreciation policy

    Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:Computer & IT Equipment - 10% Straight lineAt each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value usingIf the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the Statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the Statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

    Other accounting policies

    StocksStocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.ProvisionsProvisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.Trade and other creditorsTrade 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.Employee benefitsThe company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.Taxation and deferred taxationCurrent tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

QUAYWEST HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    10 months to 30 June 2023
    Average number of employees during the period 37

QUAYWEST HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 8,310 8,310
Disposals
Revaluations
Transfers
At 30 June 2023 8,310 8,310
Depreciation
Charge for year 1,247 1,247
On disposals
Other adjustments
At 30 June 2023 1,247 1,247
Net book value
At 30 June 2023 7,063 7,063

QUAYWEST HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Stocks

10 months to 30 June 2023
£
Stocks 10,000
Total 10,000

QUAYWEST HOSPITALITY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Creditors: amounts falling due within one year note

10 months to 30 June 2023
£
Trade creditors 45,193
Taxation and social security 18,177
Accruals and deferred income 11,127
Other creditors 57,234
Total 131,731