Quin Plant Hire Limited 06479365 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is property management and maintenance services. Digita Accounts Production Advanced 6.30.9574.0 true true 06479365 2023-02-01 2024-01-31 06479365 2024-01-31 06479365 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-01-31 06479365 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-01-31 06479365 core:CurrentFinancialInstruments 2024-01-31 06479365 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 06479365 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 06479365 core:FurnitureFittingsToolsEquipment 2024-01-31 06479365 core:MotorVehicles 2024-01-31 06479365 bus:SmallEntities 2023-02-01 2024-01-31 06479365 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06479365 bus:FilletedAccounts 2023-02-01 2024-01-31 06479365 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06479365 bus:RegisteredOffice 2023-02-01 2024-01-31 06479365 bus:Director2 2023-02-01 2024-01-31 06479365 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06479365 core:FurnitureFittings 2023-02-01 2024-01-31 06479365 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 06479365 core:MotorVehicles 2023-02-01 2024-01-31 06479365 core:OfficeEquipment 2023-02-01 2024-01-31 06479365 countries:EnglandWales 2023-02-01 2024-01-31 06479365 2023-01-31 06479365 core:FurnitureFittingsToolsEquipment 2023-01-31 06479365 core:MotorVehicles 2023-01-31 06479365 2022-02-01 2023-01-31 06479365 2023-01-31 06479365 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-01-31 06479365 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-01-31 06479365 core:CurrentFinancialInstruments 2023-01-31 06479365 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 06479365 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 06479365 core:FurnitureFittingsToolsEquipment 2023-01-31 06479365 core:MotorVehicles 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 06479365

Quin Plant Hire Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Quin Plant Hire Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Quin Plant Hire Limited

Company Information

Director

J F Quin

Registered office

35 Waters Upton
Telford
Shropshire
TF6 6NZ

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Quin Plant Hire Limited

(Registration number: 06479365)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

27,448

42,486

Current assets

 

Debtors

5

5,269

4,226

Cash at bank and in hand

 

21,590

13,583

 

26,859

17,809

Creditors: Amounts falling due within one year

6

(13,285)

(17,104)

Net current assets

 

13,574

705

Total assets less current liabilities

 

41,022

43,191

Creditors: Amounts falling due after more than one year

6

(10,505)

(16,808)

Provisions for liabilities

(5,213)

(8,070)

Net assets

 

25,304

18,313

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

25,302

18,311

Shareholders' funds

 

25,304

18,313

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Quin Plant Hire Limited

(Registration number: 06479365)
Balance Sheet as at 31 January 2024

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

Approved and authorised by the director on 24 October 2024
 


J F Quin
Director

 

Quin Plant Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
35 Waters Upton
Telford
Shropshire
TF6 6NZ
United Kingdom

2

Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Quin Plant Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

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

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Motor vehicles

20% straight line

Office equipment

25% straight line

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Quin Plant Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

69,727

15,500

85,227

Additions

2,320

-

2,320

At 31 January 2024

72,047

15,500

87,547

Depreciation

At 1 February 2023

33,699

9,042

42,741

Charge for the year

14,258

3,100

17,358

At 31 January 2024

47,957

12,142

60,099

Carrying amount

At 31 January 2024

24,090

3,358

27,448

At 31 January 2023

36,028

6,458

42,486

Included within the net book value are assets held under hire purchase agreements with a net book value of £21,875 (2023 - £41,458). The depreciation charge for the year for such assets totalled £13,125 (2023 - £16,255).

5

Debtors

Current

2024
£

2023
£

Trade debtors

349

1,122

Prepayments

2,143

1,959

Other debtors

2,777

1,145

 

5,269

4,226

 

Quin Plant Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,303

6,524

Taxation and social security

 

4,978

1,206

Accruals and deferred income

 

901

901

Other creditors

 

1,103

8,473

 

13,285

17,104

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

10,505

16,808

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Quin Plant Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

10,505

16,808

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

6,303

6,524

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

9

Related party transactions

As at the balance sheet date the company owed the director £1,103 (2023 - £8,473), which is included in Other creditors. The loan is interest free and with no fixed terms of repayment.

The company is controlled by the director.