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Company registration number: NI062402
Quay Holdings Limited
Unaudited filleted financial statements
31 December 2023
Quay Holdings Limited
Contents
Directors and other information
Directors report
Accountants report
Balance sheet
Notes to the financial statements
Quay Holdings Limited
Directors and other information
Directors Gary Stewart
Tracey Stewart
Secretary Lynsey Brown
Company number NI062402
Registered office 9 West Bank Road
Belfast
BT3 9JL
Business address Victoria Business Park
9 West Bank Road
Belfast
BT3 9JL
Accountants Jones Peters
Hughes House
6/7 Church Street
Banbridge
Co.Down
BT32 4AA
Bankers Danske Bank
Donegall Square West
Belfast
BT1 6JS
Quay Holdings Limited
Directors report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023.
Directors
The directors who served the company during the year were as follows:
Gary Stewart
Tracey Stewart
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 June 2024 and signed on behalf of the board by:
Gary Stewart
Director
Quay Holdings Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Quay Holdings Limited
Year ended 31 December 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 Quay Holdings Limited for the year ended 31 December 2023 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of Quay Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Quay Holdings Limited and state those matters that we have agreed to state to the board of directors of Quay Holdings Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quay Holdings Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Quay Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quay Holdings Limited. You consider that Quay Holdings Limited 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 financial statements of Quay Holdings Limited. 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 financial statements.
Jones Peters
Chartered Accountants
Hughes House
6/7 Church Street
Banbridge
Co.Down
BT32 4AA
13 June 2024
Quay Holdings Limited
Balance sheet
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 4 562,665 562,665
_______ _______
562,665 562,665
Current assets
Cash at bank and in hand 3,141 3,141
_______ _______
3,141 3,141
Creditors: amounts falling due
within one year 5 ( 279,476) ( 279,476)
_______ _______
Net current liabilities ( 276,335) ( 276,335)
_______ _______
Total assets less current liabilities 286,330 286,330
_______ _______
Net assets 286,330 286,330
_______ _______
Capital and reserves
Called up share capital 2 2
Share premium account 279,999 279,999
Profit and loss account 6,329 6,329
_______ _______
Shareholders funds 286,330 286,330
_______ _______
For the year 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 June 2024 , and are signed on behalf of the board by:
Gary Stewart
Director
Company registration number: NI062402
Quay Holdings Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Victoria Business Park, 9 West Bank Road, Belfast, BT3 9JL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
Quay Holdings Limited is a company limited by shares incorporated in Northern Ireland within the United Kingdom. The address of the registered office is given in the company information page of these financial statements. The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 January 2023 and 31 December 2023 562,665 562,665
_______ _______
Impairment
At 1 January 2023 and 31 December 2023 - -
_______ _______
Carrying amount
At 31 December 2023 562,665 562,665
_______ _______
At 31 December 2022 562,665 562,665
_______ _______
5. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to a group undertaking 279,476 279,476
_______ _______
6. Controlling party
The directors are the controlling parties of the company.