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Registration number: 03522429

Quinn Consulting Group Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Quinn Consulting Group Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Quinn Consulting Group Limited

(Registration number: 03522429)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

138

184

Investments

5

150,750

150,870

 

150,888

151,054

Current assets

 

Cash at bank and in hand

 

995

1,030

Creditors: Amounts falling due within one year

6

(98,576)

(80,994)

Net current liabilities

 

(97,581)

(79,964)

Net assets

 

53,307

71,090

Capital and reserves

 

Called up share capital

5,300

5,200

Profit and loss account

48,007

65,890

Shareholders' funds

 

53,307

71,090

For the financial 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.

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 and the option not to file the Profit and Loss Account and directors report has been taken.

Approved and authorised by the director on 23 September 2024
 

.........................................
Mr G Quinn
Director

 

Quinn Consulting Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
15 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 - '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 except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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.

The current 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.

 

Quinn Consulting Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 January 2023

326

326

At 31 December 2023

326

326

Depreciation

At 1 January 2023

142

142

Charge for the year

46

46

At 31 December 2023

188

188

Carrying amount

At 31 December 2023

138

138

At 31 December 2022

184

184

 

Quinn Consulting Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

150,750

150,870

Subsidiaries

£

Cost or valuation

At 1 January 2023

150,870

Disposals

(120)

At 31 December 2023

150,750

Provision

At 1 January 2023

-

Provision

-

At 31 December 2023

-

Carrying amount

At 31 December 2023

150,750

At 31 December 2022

150,870

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

Quinn & Company (Financial Services) Limited

England and Wales

Ordinary

100%

100%

 

Quinn Consulting Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Amounts owed to group undertakings

93,724

80,497

Other creditors

4,852

497

98,576

80,994