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Registered number: 04620999
P W Quinn Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
Morris Wheeler & Co Limited
1 Pond Lane
Bentfield Road
Stansted
Essex
CM24 8JG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 04620999
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,425 1,083
2,425 1,083
CURRENT ASSETS
Stocks 1,104 1,104
Debtors 9,946 23,558
Cash at bank and in hand 18,356 27,181
29,406 51,843
Creditors: Amounts Falling Due Within One Year (3,096 ) (3,712 )
NET CURRENT ASSETS (LIABILITIES) 26,310 48,131
TOTAL ASSETS LESS CURRENT LIABILITIES 28,735 49,214
NET ASSETS 28,735 49,214
CAPITAL AND RESERVES
Called up share capital 5 10 10
Profit and Loss Account 28,725 49,204
SHAREHOLDERS' FUNDS 28,735 49,214
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Patrick Quinn
Director
17/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
P W Quinn Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04620999 . The registered office is 26 Church Street, Bishop's Stortford, Hertfordshire, CM23 2LY.
The presentation currency of the financial statements is in Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 2)
1 2
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4. Tangible Assets
Total
£
Cost
As at 1 January 2023 4,600
Additions 2,171
As at 31 December 2023 6,771
Depreciation
As at 1 January 2023 3,517
Provided during the period 829
As at 31 December 2023 4,346
Net Book Value
As at 31 December 2023 2,425
As at 1 January 2023 1,083
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Patrick Quinn 18,776 - - 18,124 652
The above loan is unsecured and repayable on demand.
7. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 21,000 -
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