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REGISTERED NUMBER: 02431177 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Quay Office Furnishers Ltd.

Quay Office Furnishers Ltd. (Registered number: 02431177)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quay Office Furnishers Ltd.

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P S Nicholas
K J Spooner
G R Winning





REGISTERED OFFICE: Unit 6 Kingside Business Park
Ruston Road
London
SE18 5BX





REGISTERED NUMBER: 02431177 (England and Wales)





ACCOUNTANTS: Professional Trust Group Limited
Chartered Accountants
7 Kendon Business Park
Maritime Close
Rochester
Kent
ME2 4JF

Quay Office Furnishers Ltd. (Registered number: 02431177)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 112,824 114,035

CURRENT ASSETS
Stocks 25,000 20,000
Debtors 5 542,081 471,184
Cash at bank 813,908 684,479
1,380,989 1,175,663
CREDITORS
Amounts falling due within one year 6 692,139 408,598
NET CURRENT ASSETS 688,850 767,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

801,674

881,100

CREDITORS
Amounts falling due after more than one
year

7

(12,795

)

(20,876

)

PROVISIONS FOR LIABILITIES (1,086 ) -
NET ASSETS 787,793 860,224

CAPITAL AND RESERVES
Called up share capital 2,025 2,025
Capital redemption reserve 975 975
Retained earnings 784,793 857,224
787,793 860,224

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Quay Office Furnishers Ltd. (Registered number: 02431177)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:




P S Nicholas - Director K J Spooner - Director




G R Winning - Director


Quay Office Furnishers Ltd. (Registered number: 02431177)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Quay Office Furnishers Ltd. 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.

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 etc - 25% on reducing balance and in accordance with the property

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

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.

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 year 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.

Quay Office Furnishers Ltd. (Registered number: 02431177)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

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 year was 20 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 249,697
Additions 44,123
Disposals (22,750 )
At 30 June 2024 271,070
DEPRECIATION
At 1 July 2023 135,662
Charge for year 39,935
Eliminated on disposal (17,351 )
At 30 June 2024 158,246
NET BOOK VALUE
At 30 June 2024 112,824
At 30 June 2023 114,035

Quay Office Furnishers Ltd. (Registered number: 02431177)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 99,349
Disposals (22,750 )
At 30 June 2024 76,599
DEPRECIATION
At 1 July 2023 50,895
Charge for year 10,763
Eliminated on disposal (17,351 )
At 30 June 2024 44,307
NET BOOK VALUE
At 30 June 2024 32,292
At 30 June 2023 48,454

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 484,972 433,802
Other debtors 57,109 37,382
542,081 471,184

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 8,081 8,081
Trade creditors 240,495 185,752
Taxation and social security 203,742 179,676
Other creditors 239,821 35,089
692,139 408,598

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 12,795 20,876

Quay Office Furnishers Ltd. (Registered number: 02431177)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date financial commitments associated with a property lease granted to the company totalled £99,000 (2023: £165,000), excluding Value Added Tax.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
G R Winning
Balance outstanding at start of year (1,004 ) (692 )
Amounts advanced 20,137 -
Amounts repaid (312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,821 (1,004 )

10. ULTIMATE CONTROLLING PARTY

Control of the company is divided equally between two of the directors, P S Nicholas and K J Spooner.