REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
QUILL DEVELOPMENTS LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
QUILL DEVELOPMENTS LTD |
QUILL DEVELOPMENTS LTD (Registered number: 09473291) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
QUILL DEVELOPMENTS LTD |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
QUILL DEVELOPMENTS LTD (Registered number: 09473291) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
QUILL DEVELOPMENTS LTD (Registered number: 09473291) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the director and authorised for issue on |
QUILL DEVELOPMENTS LTD (Registered number: 09473291) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
QUILL DEVELOPMENTS LTD is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Computer equipment | - |
Financial instruments |
initial recognition of financial assets and liabilities. |
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. |
Initial measurement |
When a financial asset or liability is recognised initially, the company shall measure it at the transaction price including transaction costs except in the initial measurement of financial assets and liabilities that are measured at fair value through profit or loss unless the arrangement constitutes, in effect, a financial transaction. If the arrangement constitutes a financial transaction, the company shall measure the financial asset or financial liability at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. |
Subsequent measurement |
At the end of each reporting period, the company shall measure financial instruments without any deduction for transaction costs the company may incur on sale or other disposal. Debt instruments shall be measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year shall be measured at the undiscounted amount of the cash or other consideration expected to be paid or received unless the arrangement constitutes, in effect, a financial transaction. If the arrangement constitutes a financing transaction, the company shall measure the debt instrument at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Impairment of financial instruments |
Impairment of financial instruments measured at cost or amortised cost. At the end of each reporting period, the company shall assess whether there is objective evidence of impairment of any financial assets that are measured at cost or amortised cost.If there is objective evidence of impairment, the company shall recognise an impairment loss in profit or loss immediately. |
Derecognition of a financial asset |
The company shall derecognise a financial asset only when the contractual rights to the cash flows from the financial asset expire or are settled, or the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the company, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. In this case, the company shall derecognise the asset and recognise separately any rights and obligations retained or created in the transfer. |
QUILL DEVELOPMENTS LTD (Registered number: 09473291) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Amounts owed by participating interests | 4,150 | 4,150 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Social security and other taxes |
Directors' current accounts | 657 | 536 |
Accrued expenses |
QUILL DEVELOPMENTS LTD (Registered number: 09473291) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans - 2-5 years |