Registration number:
Quartz Holdings Limited
for the Period from 2 December 2022 to 31 December 2023
Pages for filing with Registrar
Quartz Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Quartz Holdings Limited
Company Information
Directors |
C Nicholson J E Thompson |
Registered office |
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Registered number |
14520727 |
Accountant |
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Quartz Holdings Limited
(Registration number: 14520727)
Balance Sheet as at 31 December 2023
Note |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Quartz Holdings Limited
(Registration number: 14520727)
Balance Sheet as at 31 December 2023
For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Quartz Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 2 December 2022 to 31 December 2023
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.
Disclosure of long or short period
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.
Quartz Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 2 December 2022 to 31 December 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.
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Staff numbers |
The company had
Quartz Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 2 December 2022 to 31 December 2023
Taxation |
No liability to UK corporation tax arose on ordinary activities for the period from 2 December 2022 to 31 December 2023.
Investments |
2023 |
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Investments in subsidiaries |
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Debtors: amounts falling due within one year |
2023 |
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Other debtors |
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Creditors |
2023 |
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Amounts falling due within one year |
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Amounts owed to group undertakings |
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Accruals |
26,023 |
Loan note instrument |
278,000 |
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2023 |
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Due after one year |
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Loan note instrument |
2,270,333 |
The loan note instrument constitutes a £2,780,000 2% fixed rate loan which is secured by way of a debenture. The loan is repayable by March 2033.
Quartz Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 2 December 2022 to 31 December 2023
Share capital |
Allotted, called up and fully paid shares
31 December 2023 |
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No. |
£ |
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2,000 |
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1,913,506 |
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On incorporation the company issued 2,000 Ordinary shares of £1 each. The Ordinary shares have full rights in respect to voting, dividends and distributions.
On 12 July 2023 a further 1,913,506 A Ordinary shares of £1 each were issued. The A Ordinary shares have no voting rights, no right of redemption and dividend rights on the recommendation of the board and at the discretion of the company in general meeting. On winding up or return of capital, the holders have the right to the aggregate sum of £1,913,506 less any amounts paid as dividend.