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REGISTERED NUMBER: 04249872 (England and Wales)















A J QUINN BUILDING CONTRACTORS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A J QUINN BUILDING CONTRACTORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: A J Quinn
P J Quinn
S J Quinn
P A Quinn
S Quinn



SECRETARY: S J Quinn



REGISTERED OFFICE: Storage Warehouse
Railway Terrace
Sebastopol
Pontypool
Torfaen
NP4 5EJ



REGISTERED NUMBER: 04249872 (England and Wales)



ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU



BANKERS: Barclays Bank Plc
2 Gwent Square
Cwmbran
Torfaen
NP44 1XP

A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 625,026 545,225
Investments 6 48,000 48,000
Investment property 7 360,000 190,000
1,033,026 783,225

CURRENT ASSETS
Stocks 211,024 207,285
Debtors 8 690,956 872,410
Cash at bank and in hand 999,061 880,339
1,901,041 1,960,034
CREDITORS
Amounts falling due within one year 9 561,310 525,604
NET CURRENT ASSETS 1,339,731 1,434,430
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,372,757

2,217,655

CREDITORS
Amounts falling due after more than one
year

10

(34,748

)

(115,104

)

PROVISIONS FOR LIABILITIES (184,135 ) (122,095 )
NET ASSETS 2,153,874 1,980,456

A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)

BALANCE SHEET - continued
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 5,000 5,000
Fair value reserve 12 107,002 78,879
Retained earnings 2,041,872 1,896,577
SHAREHOLDERS' FUNDS 2,153,874 1,980,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th July 2024 and were signed on its behalf by:





A J Quinn - Director


A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

A J Quinn Building Contractors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 26 ) .

A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 30,000
AMORTISATION
At 1st January 2023
and 31st December 2023 30,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2023 526,438 785,677 34,791 1,346,906
Additions 4,913 320,005 1,547 326,465
Disposals (2,004 ) (130,665 ) (1,215 ) (133,884 )
At 31st December 2023 529,347 975,017 35,123 1,539,487
DEPRECIATION
At 1st January 2023 374,365 396,097 31,219 801,681
Charge for year 39,247 167,816 1,280 208,343
Eliminated on disposal (2,004 ) (92,344 ) (1,215 ) (95,563 )
At 31st December 2023 411,608 471,569 31,284 914,461
NET BOOK VALUE
At 31st December 2023 117,739 503,448 3,839 625,026
At 31st December 2022 152,073 389,580 3,572 545,225

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Debentures 48,000 48,000

A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023 190,000
Additions 132,503
Revaluations 37,497
At 31st December 2023 360,000
NET BOOK VALUE
At 31st December 2023 360,000
At 31st December 2022 190,000

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2022 97,382
Valuation in 2023 37,497
Cost 225,121
360,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 594,578 766,661
Other debtors 14,633 26,577
Directors' current accounts 42,020 42,670
Prepayments 39,725 36,502
690,956 872,410

A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,611 41,555
Trade creditors 176,947 144,827
Corporation tax 141,552 140,163
Social security and other taxes 18,251 21,003
VAT 181,207 146,717
Credit cards 6,283 9,498
Directors' current accounts 852 540
Accruals and deferred income 13,607 21,301
561,310 525,604

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 34,748 115,104

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 34,748 115,104

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4,250 Ordinary £1 4,250 4,250
225 Ordinary A £1 225 225
150 Ordinary B £1 150 150
125 Ordinary C £1 125 125
250 Ordinary D £1 250 250
5,000 5,000

A J QUINN BUILDING CONTRACTORS LTD (REGISTERED NUMBER: 04249872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

12. RESERVES
Fair
value
reserve
£   
At 1st January 2023 78,879
Revaluation 28,123

At 31st December 2023 107,002

13. RELATED PARTY DISCLOSURES

The company had the following outstanding directors loan accounts at year end:
- A J and P J Quinn owed the company £11,209 (2022 - £11,758)
- S J Quinn was owed by the company £852 (2022 - £540)
- S Quinn owed the company £15,403 (2022 - £15,544)
- P A Quinn owed the company £15,408 (2022 - £15,368)

During the year the company made payments totalling £26,400 (2022 - £26,400) to A J Quinn and P J Quinn in relation to the rental of the yard occupied by the company which is owned by the shareholders.