Quintor (UK) LLP OC321519 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Caravan & Leisure Parks Digita Accounts Production Advanced 6.30.9574.0 true OC321519 2023-04-01 2024-03-31 OC321519 2024-03-31 OC321519 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 OC321519 bus:SmallEntities 2023-04-01 2024-03-31 OC321519 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC321519 bus:FilletedAccounts 2023-04-01 2024-03-31 OC321519 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC321519 bus:RegisteredOffice 2023-04-01 2024-03-31 OC321519 bus:PartnerLLP1 2023-04-01 2024-03-31 OC321519 bus:PartnerLLP2 2023-04-01 2024-03-31 OC321519 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC321519 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 OC321519 core:MotorVehicles 2023-04-01 2024-03-31 OC321519 core:PlantMachinery 2023-04-01 2024-03-31 OC321519 countries:AllCountries 2023-04-01 2024-03-31 OC321519 2022-04-01 2023-03-31 OC321519 2023-03-31 OC321519 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 xbrli:pure iso4217:GBP

Registration number: OC321519

Quintor (UK) LLP

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Quintor (UK) LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 11

Balance Sheet

2

Statement of Changes in Members’ Interests

4

Notes to the Financial Statements

6

 

Quintor (UK) LLP

Limited liability partnership information

Designated members

Longthorp (Kilpin) Limited

Quintor (Homes) Limited
 

Registered office

Raywell Hall Country Lodge Park
Management Building Riplingham Road
Raywell
Cottingham
East Yorkshire
HU16 5YL

Accountants

RNS Chartered Accountants
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

 

Quintor (UK) LLP

(Registration number: OC321519)
Balance Sheet as at 31 March 2024

Note

2024
 £

2023
 £

Fixed assets

 

Tangible assets

3

2,843,622

3,012,812

Investment property

4

1,005,000

1,005,000

Investments

5

10,000

10,000

 

3,858,622

4,027,812

Current assets

 

Stocks

683,409

674,366

Debtors

6

1,645,426

1,537,211

Cash and short-term deposits

 

82,880

45,794

 

2,411,715

2,257,371

Creditors: Amounts falling due within one year

7

(4,157,164)

(4,138,870)

Net current liabilities

 

(1,745,449)

(1,881,499)

Total assets less current liabilities

 

2,113,173

2,146,313

Creditors: Amounts falling due after more than one year

8

(21,667)

(31,667)

Net assets attributable to members

 

2,091,506

2,114,646

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

1,555,613

1,578,753

Equity

 

Members' capital classified as equity

 

370,001

370,001

Fair value reserve

 

165,892

165,892

 

535,893

535,893

   

2,091,506

2,114,646

 

Quintor (UK) LLP

(Registration number: OC321519)
Balance Sheet as at 31 March 2024

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Quintor (UK) LLP (registered number OC321519) were approved by the
Board and authorised for issue on 1 October 2024. They were signed on behalf of the limited liability partnership by:



Quintor (Homes) Limited
Designated member


 

 

Quintor (UK) LLP

Statement of Changes in Members’ Interests
At 31 March 2024

 

Equity

 

Loans and other debts due to/(from) members

 

Members' capital
£

Fair value reserve
£

Other reserves
£

Total
£

Members' capital classified as a liability
£

Members' debtor
£

Total
2024
 £

Members' interest at 1 April 2023

370,001

165,892

-

535,893

1,578,753

(1,134,939)

979,707

Loss for the financial year available for discretionary division among members

-

-

(109,435)

(109,435)

-

-

(109,435)

Other divisions of profits/losses

-

-

109,435

109,435

-

(109,435)

-

Other movements

-

-

-

-

(23,140)

-

(23,140)

 
 

Members' interest at 31 March 2024

370,001

165,892

-

535,893

1,555,613

(1,244,374)

847,132

 
 

Quintor (UK) LLP

Statement of Changes in Members’ Interests
At 31 March 2024

 

Equity

 

Loans and other debts due to/(from) members

 

Members' capital
£

Revaluation reserve
£

Other reserves
£

Total
£

Members' capital classified as a liability
£

Members' debtor
£

Total
2024
 £

Members' interest at 1 April 2022

370,001

165,892

-

535,893

1,582,147

(1,210,860)

907,180

Profit for the financial year available for discretionary division among members

-

-

75,921

75,921

-

-

75,921

Other divisions of losses

-

-

(75,921)

(75,921)

-

75,921

-

Other movements

-

-

-

-

(3,394)

-

(3,394)

 
 

Members' interest at 31 March 2023

370,001

165,892

-

535,893

1,578,753

(1,134,939)

979,707

 
 

Quintor (UK) LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

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.

General information and basis of accounting

The limited liability partnership is incorporated in England under the Limited Liability Partnership Act 2000. The address of the registered office is:

Raywell Hall Country Lodge Park
Management Building
Riplingham Road
Raywell
Cottingham
East Yorkshire
HU16 5YL

Registered number: OC321519

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for development property sales in the ordinary course of the company's activities. Turnover is shown net of value added tax.

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.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

 

Quintor (UK) LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Tangible fixed assets

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

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, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% per annum on cost / 75% on cost over 15 years

Fixtures, fittings and equipment

33.33% per annum on cost

Motor vehicles

20% per annum on cost

Investment properties

Investment property is carried at fair value, derived from current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in nature, location or condition of the specific asset. Changes in fair value are recognised in the Profit and Loss Account.

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Loan finance has been used solely for the construction of lodges and as such, borrowing costs have been included within the calculation of work in progress and apportioned to each lodge accordingly.

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 at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise of amounts being held in the bank current account and cash on hand balances. They are subject to an insignificant risk of change in value.

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 limited liability partnership 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. Trade creditors are recognised at the transaction price.

 

Quintor (UK) LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Hire purchase and leasing

Assets held for use in operating leases are included as a separate category in fixed assets at cost and are not depreciated.

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Pensions and other post retirement obligations

A defined contribution plan is a pension under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. If contribution payments are owed to the scheme then the amount owed is recognised as an other creditor.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 31 (2023 - 56).

 

Quintor (UK) LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Tangible fixed assets

Plant and machinery
£

Fixtures, fittings and equipment
£

Motor vehicles
£

Total
£

Cost

At 1 April 2023

3,345,732

15,408

17,990

3,379,130

At 31 March 2024

3,345,732

15,408

17,990

3,379,130

Depreciation

At 1 April 2023

336,464

12,664

17,190

366,318

Charge for the year

167,182

1,808

200

169,190

At 31 March 2024

503,646

14,472

17,390

535,508

Net book value

At 31 March 2024

2,842,086

936

600

2,843,622

At 31 March 2023

3,009,268

2,744

800

3,012,812

4

Investment property

Investment property comprises of lodges which are kept by the LLP to generate rental income and freehold land interest. The value capitalised is equivalent to the sales price which would be achieved for a similar lodge on the park.

At the balance sheet date the total value of investment properties, inclusive of freehold land interest, is £1,005,000 (2023 - £1,005,000).

There has been no valuation of investment property by an independent valuer.

 

Quintor (UK) LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

5

Investments held as fixed assets

2024
£

2023
£

Other investments

10,000

10,000

Other investments

Unlisted investments
£

Total
£

Cost

At 1 April 2023

10,000

10,000

At 31 March 2024

10,000

10,000

Net book value

At 31 March 2024

10,000

10,000

At 31 March 2023

10,000

10,000

6

Debtors

2024
 £

2023
 £

Trade debtors

173,745

183,768

Amounts owed by undertakings in which the LLP has a participating interest

115,624

119,850

Other debtors

1,348,809

1,227,291

Prepayments and accrued income

7,248

6,302

1,645,426

1,537,211

£39,850 (2023 - £39,850) of other debtors are classified as non-current.

 

Quintor (UK) LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Creditors: Amounts falling due within one year

2024
 £

2023
 £

Trade creditors

58,893

46,271

Other creditors

3,946,346

3,951,337

Accruals and deferred income

65,738

68,296

Taxation and social security

86,187

72,966

4,157,164

4,138,870

Creditors amounts falling due within one year includes the following liabilities, on which security has been given by the limited liability partnership:

2024
£

2023
£

Other creditors

-

4,333

The Hoseasons loan is secured by way of a debenture giving a fixed charge over assets of the LLP.

8

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Bank loans and overdrafts

21,667

31,667

9

Related party transactions

Summary of transactions with members

Quintor (Homes) Limited
Longthorp (Kilpin) Limited
Quintor (Homes Limited and Longthorp (Kilpin) Limited are member companies of Quintor (UK) LLP. At the balance sheet date Quintor (UK) LLP owed Quintor (Homes) Limited £311,234 (2023 - £443,813). Interest is not charged on this balance. At the balance sheet date Quintor (UK) LLP owed Longthorp (Kilpin) Limited £3,643,007 (2023 - £3,643,007). Interest is charged at 2.5% over base rate on this balance.

Summary of transactions with other related parties

E C Estates Limited
Quintor (UK) LLP has made a loan to E C Estates Limited, a company in which they hold a 50% interest. The balance on this loan at the year end is £115,624 (2023 - £119,850). Of this balance £39,850 (2023 - £39,850) is repayable after more than one year. Interest is not charged on this balance.