Registered number
11766240
QUINTON CONCRETE SERVICES LTD
Filleted Abridged Accounts
31 March 2024
QUINTON CONCRETE SERVICES LTD
Registered number: 11766240
Abridged Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 34,709 34,593
Current assets
Debtors 3,450 21,692
Cash at bank and in hand 105,886 53,709
109,336 75,401
Creditors: amounts falling due within one year (24,397) (14,121)
Net current assets 84,939 61,280
Total assets less current liabilities 119,648 95,873
Creditors: amounts falling due after more than one year (8,985) (19,658)
Net assets 110,663 76,215
Capital and reserves
Called up share capital 100 100
Profit and loss account 110,563 76,115
Shareholder's funds 110,663 76,215
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Buta Singh Mahal
Director
Approved by the board on 18 April 2024
QUINTON CONCRETE SERVICES LTD
Notes to the Abridged Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Total
£
Cost
At 1 April 2023 62,017
Additions 29,000
Disposals (13,350)
At 31 March 2024 77,667
Depreciation
At 1 April 2023 27,424
Charge for the year 15,534
At 31 March 2024 42,958
Net book value
At 31 March 2024 34,709
At 31 March 2023 34,593
4 Other information
QUINTON CONCRETE SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
36
Brook Street
Brook Business Centre
DY4 9DD
QUINTON CONCRETE SERVICES LTD 11766240 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 Buta Singh Mahal No description of principal activity 11766240 2022-04-01 2023-03-31 11766240 core:WithinOneYear 2023-03-31 11766240 core:AfterOneYear 2023-03-31 11766240 core:ShareCapital 2023-03-31 11766240 core:RetainedEarningsAccumulatedLosses 2023-03-31 11766240 2023-04-01 2024-03-31 11766240 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11766240 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11766240 bus:Director40 2023-04-01 2024-03-31 11766240 1 2023-04-01 2024-03-31 11766240 2 2023-04-01 2024-03-31 11766240 countries:England 2023-04-01 2024-03-31 11766240 bus:FRS102 2023-04-01 2024-03-31 11766240 bus:AbridgedAccounts 2023-04-01 2024-03-31 11766240 2024-03-31 11766240 core:WithinOneYear 2024-03-31 11766240 core:AfterOneYear 2024-03-31 11766240 core:ShareCapital 2024-03-31 11766240 core:RetainedEarningsAccumulatedLosses 2024-03-31 11766240 2023-03-31 iso4217:GBP xbrli:pure