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REGISTERED NUMBER: 01280199 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 30 DECEMBER 2023

FOR

QUILL INTERNATIONAL GROUP LIMITED

QUILL INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 01280199)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUILL INTERNATIONAL GROUP LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023







Directors: Mrs S Y Dore
Mr D J Dore
Mr S Green
Miss S Dore





Secretary: Mrs S Y Dore





Registered office:
Castle Lane
Melbourne
Derby
Derbyshire
DE73 8JB





Registered number: 01280199 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

QUILL INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 01280199)

BALANCE SHEET
30 DECEMBER 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 4 533,726 469,468
Investments 5 - 136,631
533,726 606,099

Current assets
Stocks 6 385,411 442,986
Debtors 7 1,876,806 2,101,635
Cash at bank and in hand 198,296 222,637
2,460,513 2,767,258
Creditors
Amounts falling due within one year 8 (1,141,276 ) (1,425,468 )
Net current assets 1,319,237 1,341,790
Total assets less current liabilities 1,852,963 1,947,889

Creditors
Amounts falling due after more than one
year

9

(114,053

)

(245,873

)

Provisions for liabilities (96,354 ) (51,835 )
Net assets 1,642,556 1,650,181

Capital and reserves
Called up share capital 12 50,760 50,760
Retained earnings 1,591,796 1,599,421
Shareholders' funds 1,642,556 1,650,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

QUILL INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 01280199)

BALANCE SHEET - continued
30 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr D J Dore - Director


QUILL INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 01280199)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

1. STATUTORY INFORMATION

Quill International Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed assets are depreciated over their useful economic lives. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 2% on cost
Motor vehicles - 25% on cost
Equipment - 33% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost, less provision for any impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


QUILL INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 01280199)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 31 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Equipment Totals
£ £ £ £ £
Cost
At 1 January 2023 1,476,728 100,230 525,362 207,696 2,310,016
Additions 74,376 6,545 111,832 7,144 199,897
Disposals (1,016,511 ) (100,079 ) (289,280 ) (15,503 ) (1,421,373 )
At 30 December 2023 534,593 6,696 347,914 199,337 1,088,540
Depreciation
At 1 January 2023 1,259,441 3,705 372,506 204,896 1,840,548
Charge for period 76,798 2,495 51,671 701 131,665
Eliminated on disposal (1,016,511 ) (100,079 ) (285,306 ) (15,503 ) (1,417,399 )
At 30 December 2023 319,728 (93,879 ) 138,871 190,094 554,814
Net book value
At 30 December 2023 214,865 100,575 209,043 9,243 533,726
At 31 December 2022 217,287 96,525 152,856 2,800 469,468

Included within the net book value of £533,726 is £63,435 (2022 - £75,340) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £23,610 (2022 - £19,619).

QUILL INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 01280199)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

5. FIXED ASSET INVESTMENTS

The company owns 100% of the issued share capital of The Collated Nail Company Limited, Prep Wipes Limited, A & J Erosion Limited and A G Precision Limited. All companies were incorporated in England.

6. STOCKS
2023 2022
£ £
Finished goods 385,411 442,986

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,045,476 1,073,795
Other debtors 9,425 106,590
Intercompany account 416,035 592,390
Directors' loan accounts 75,027 66,761
Tax 54,328 -
Prepayments and accrued income 276,515 262,099
1,876,806 2,101,635

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 155,554 155,554
Hire purchase contracts (see note 10) 18,441 21,205
Trade creditors 434,483 398,790
Invoice discounting 309,835 377,203
Tax - 48,484
Social security and other taxes 31,579 31,291
VAT 141,393 206,657
Other creditors 12,105 10,260
Inter-company balances - 69,744
Directors' loan accounts 13,117 15,611
Accruals and deferred income 24,769 90,669
1,141,276 1,425,468

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 73,601 226,218
Hire purchase contracts (see note 10) 40,452 19,655
114,053 245,873

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 18,441 21,205
Between one and five years 40,452 19,655
58,893 40,860

QUILL INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 01280199)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

10. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2023 2022
£ £
Within one year 39,600 39,600
Between one and five years 118,800 158,400
In more than five years 79,200 118,800
237,600 316,800

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 229,155 381,772

Bank loans are secured by a mortgage debenture and a first legal charge over the company's freehold property.

The hire purchase agreements are secured against the assets to which they relate.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
50,760 Ordinary £1 50,760 50,760

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 December 2023 and the year ended 31 December 2022:

2023 2022
£ £
Mr D J Dore
Balance outstanding at start of period 66,761 35,218
Amounts advanced 84,180 136,011
Amounts repaid (75,914 ) (104,468 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 75,027 66,761

Mrs S Y Dore
Balance outstanding at start of period (15,611 ) -
Amounts advanced 2,500 -
Amounts repaid (6 ) (15,611 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (13,117 ) (15,611 )

It is company policy to charge interest on all overdrawn loan accounts at HMRC official rate of interest. The amount owed at the year-end in respect of the above loans was £1,906 (2022: £1,499) and is included in other debtors.

QUILL INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 01280199)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023

14. RELATED PARTY DISCLOSURES





The company was under the control of Mr D Dore throughout the current and previous year.

Mr D Dore is a director and majority shareholder in Quill Falcon Limited t/a Ironforge Pressings. During the year the company entered into the following transactions with the related party:

20232022
£   £   


Debtor balance31,61330,727
Creditor balance-343
Amount owed to/(from) Quill Falcon Limited t/a Ironforge Pressings (70,859)53,002

The Company owns 100% of the Share Capital of The Collated Nail Company Limited. During the year the company entered into the following transactions with the Subsidiary Company:

20232022
£   £   

Debtor balance-8,605
Creditor balance-6,292

Sales to Collated Nail Company Limited39,71835,066
Purchases from Collated Nail Company Limited23,97723,255
Amounts written off during the year107,275-
Amount owed from Collated Nail Company Limited75,000144,572

The following transactions took place with Quill International Chemicals Limited, a related party by virtue of the managing director and majority shareholder being a close family member of Mr D Dore.

20232022
£   £   

Sales to and management charges received from
Quill International Chemicals Ltd29,392333,042
Purchases from Quill International Chemicals Ltd7,5642,336
Debtor balance29,39216,422
Creditor balance 6669
Amount owed to Quill International Chemical(38,002)16,741


The following transactions took place with Quill International Lifting & Certification Limited, a related party by virtue of the managing director and majority shareholder being a close family member of M D Dore.

20232022
£   £   
Debtor balance 216,400216,400
Creditor balance 115,4094,272
Amount owed from Quill International Lifting & Certification Limited 232,173260,355

The following transactions took place with AG Precision Limited, a related party by virtue of the managing director and majority shareholder being a close family member of M D Dore.

20232022
£   £   
Amount owed from AG Precision Limited -187,460
Amounts written off furing the year187,460-
Debtor balance-20,037
Creditor balance--