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Registration number: 11089927

Quinlan Holdings Ltd

Report of the Directors and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Quinlan Holdings Ltd

Contents of The Financial Statements
for the Year Ended 30 November 2023

 

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Quinlan Holdings Ltd

Company Information
for the Year Ended 30 November 2023

Director

S J Quinlan

Company secretary

T B Quinlan

Registered office

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

Accountants

Insight Strategic Associates
Chartered Certified Accountants
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Quinlan Holdings Ltd
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quinlan Holdings Ltd for the year ended 30 November 2023 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of Quinlan Holdings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Quinlan Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Quinlan Holdings Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/
technical-activities/technical-resources-search/2009/october/factsheet-163-audit-exempt
-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quinlan Holdings Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Quinlan Holdings Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Quinlan Holdings Ltd. You consider that Quinlan Holdings Ltd is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of Quinlan Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Insight Strategic Associates
Chartered Certified Accountants

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

14 August 2024

 

Quinlan Holdings Ltd

(Registration number: 11089927 )
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

650,250

650,250

Current assets

 

Debtors

6

189,097

191,645

Other financial assets

5

1,228,145

1,628,274

Cash at bank and in hand

 

2,838,574

998,562

 

4,255,816

2,818,481

Creditors: Amounts falling due within one year

7

(701,042)

(383,616)

Net current assets

 

3,554,774

2,434,865

Net assets

 

4,205,024

3,085,115

Capital and reserves

 

Called up share capital

500

500

Share premium reserve

649,850

649,850

Other reserves

266,696

266,696

Retained earnings

3,287,978

2,168,069

Shareholders' funds

 

4,205,024

3,085,115

For the financial year ending 30 November 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 his 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.

 

Quinlan Holdings Ltd

(Registration number: 11089927 )
Balance Sheet as at 30 November 2023

Approved and authorised by the director on 14 August 2024
 

.........................................
S J Quinlan
Director

 

Quinlan Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE
England

The principal place of business is:
Unit 3,Grove Dairy Farm Business Center
Bobbing Hill
Sittingbourne
Kent
ME9 8NY
England

These financial statements were authorised for issue by the director on 14 August 2024.

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.

 

Quinlan Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Quinlan Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2

Accounting policies (continued)

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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Quinlan Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

650,250

650,250

Subsidiaries

£

Cost or valuation

At 1 December 2022

650,250

Provision

Carrying amount

At 30 November 2023

650,250

At 30 November 2022

650,250

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

QuinnRoss Consultants Limited

10 Towerfield Road, Shoeburyness, Essex, SS3 9QE

England

Ordinary £0.01

100%

100%

Quinn Ross Properties Limited

10 Towerfield Road, Shoeburyness, Essex, SS3 9QE

England

Ordinary £1

100%

100%

 

Quinlan Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Investments (continued)

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

Quinn Ross Energy Limited

10 Towerfield Road, Shoeburyness, Essex, SS3 9QE

England

Ordinary £1

100%

100%

Subsidiary undertakings

QuinnRoss Consultants Limited

The principal activity of QuinnRoss Consultants Limited is Consultants.

Quinn Ross Properties Limited

The principal activity of Quinn Ross Properties Limited is Property Managment Company.

Quinn Ross Energy Limited

The principal activity of Quinn Ross Energy Limited is Consulting .

 

Quinlan Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 December 2022

1,628,274

1,628,274

Additions

146,079

146,079

Disposals

(537,217)

(537,217)

Transfers

(8,991)

(8,991)

At 30 November 2023

1,228,145

1,228,145

Impairment

Carrying amount

At 30 November 2023

1,228,145

1,228,145

6

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

189,097

189,097

Other debtors

 

-

2,548

 

189,097

191,645

 

Quinlan Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

275,179

40,000

Taxation and social security

 

20,062

-

Accruals and deferred income

 

1,263

1,078

Other creditors

 

404,538

342,538

 

701,042

383,616