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Company registration number: NI071693
Quarryplan (GB) Limited
Unaudited filleted financial statements
31 January 2024
Quarryplan (GB) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Quarryplan (GB) Limited
Directors and other information
Directors Mr Stephen Lamb
Mr Andrew Scurfield
Company number NI071693
Registered office 10 Saintfield Road
Crossgar
BT30 9HY
Business address Unit 12A
The Borough Mall
Wedmore
Somerset
BS28 4EB
Accountants Hill Vellacott
22 Great Victoria Street
Belfast
BT2 7BA
Bankers Santander UK Plc
Bridle Road
Bootle
Merseyside
L30 4GB
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Quarryplan (GB) Limited
Year ended 31 January 2024
In accordance with the engagement letter dated 15 August 2024, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 January 2024 which comprise the statement of financial position and related notes from the company's accounting records and information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie/Professional-Standards/Home.
This report is made solely to the board of directors of Quarryplan (GB) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Quarryplan (GB) Limited and state those matters that we have agreed to state to the board of directors of Quarryplan (GB) Limited as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quarryplan (GB) Limited and its board of directors as a body for our work or for this report.
We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by the Institute of Chartered Accountants Ireland.
You have acknowledged on the balance sheet for the year ended 31 January 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Hill Vellacott
22 Great Victoria Street
Belfast
BT2 7BA
25 October 2024
Quarryplan (GB) Limited
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 19,906 27,593
_______ _______
19,906 27,593
Current assets
Debtors 6 74,695 76,525
Cash at bank and in hand 143,184 206,958
_______ _______
217,879 283,483
Creditors: amounts falling due
within one year 7 ( 49,242) ( 47,000)
_______ _______
Net current assets 168,637 236,483
_______ _______
Total assets less current liabilities 188,543 264,076
Creditors: amounts falling due
after more than one year 8 - ( 21,977)
Provisions for liabilities - ( 5,243)
_______ _______
Net assets 188,543 236,856
_______ _______
Capital and reserves
Called up share capital 9 10,000 10,000
Profit and loss account 178,543 226,856
_______ _______
Shareholders funds 188,543 236,856
_______ _______
For the 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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 October 2024 , and are signed on behalf of the board by:
Mr Stephen Lamb Mr Andrew Scurfield
Director Director
Company registration number: NI071693
Quarryplan (GB) Limited
Statement of changes in equity
Year ended 31 January 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 February 2022 10,000 207,285 217,285
(Loss)/profit for the year 40,291 40,291
_______ _______ _______
Total comprehensive income for the year - 40,291 40,291
Dividends paid and payable ( 20,720) ( 20,720)
_______ _______ _______
Total investments by and distributions to owners - ( 20,720) ( 20,720)
_______ _______ _______
At 31 January 2023 and 1 February 2023 10,000 226,856 236,856
(Loss)/profit for the year ( 27,593) ( 27,593)
_______ _______ _______
Total comprehensive income for the year - ( 27,593) ( 27,593)
Dividends paid and payable ( 20,720) ( 20,720)
_______ _______ _______
Total investments by and distributions to owners - ( 20,720) ( 20,720)
_______ _______ _______
At 31 January 2024 10,000 178,543 188,543
_______ _______ _______
Quarryplan (GB) Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 10 Saintfield Road, Crossgar, BT30 9HY.
The principal activity of the company is environmental consulting.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financialstatements.
Judgements and key sources of estimation uncertainty
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. Significant judgementsThere are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.Key sources of estimation uncertaintyAccounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
Motor vehicles - 20 % reducing balance
Computer Equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset an d generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Computer Equipment Total
£ £ £ £
Cost
At 1 February 2023 9,217 40,980 5,288 55,485
Additions - - 1,482 1,482
Disposals ( 9,217) - ( 3,686) ( 12,903)
_______ _______ _______ _______
At 31 January 2024 - 40,980 3,084 44,064
_______ _______ _______ _______
Depreciation
At 1 February 2023 8,926 15,627 3,339 27,892
Charge for the year - 8,196 329 8,525
Disposals ( 8,926) - ( 3,333) ( 12,259)
_______ _______ _______ _______
At 31 January 2024 - 23,823 335 24,158
_______ _______ _______ _______
Carrying amount
At 31 January 2024 - 17,157 2,749 19,906
_______ _______ _______ _______
At 31 January 2023 291 25,353 1,949 27,593
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 26,617 37,571
Amounts owed by related companies - 25,588
Other debtors 48,078 13,366
_______ _______
74,695 76,525
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 6,864 5,044
Amounts owed to group companies 16,907 -
Corporation tax - 10,430
Social security and other taxes - 10,259
Other creditors 25,471 21,267
_______ _______
49,242 47,000
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors - 21,977
_______ _______
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary A shares shares of £ 1.00 each 100 100 100 100
Ordinary B shares shares of £ 1.00 each 9,900 9,900 9,900 9,900
_______ _______ _______ _______
10,000 10,000 10,000 10,000
_______ _______ _______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Stephen Lamb 191 3,651 3,842
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Stephen Lamb ( 4,101) 4,292 191
_______ _______ _______
11. Related party transactions
The company is related to Quarryplan Limited through common control. During the year the company was charged expenses by Quarryplan Limited of £10,007 (2023: £12,508). At the balance sheet date the company owed £16,907 to Quarryplan Limited (2023: Debit £25,588).The loan is unsecured, interest free and repayable upon demand.
12. Controlling party
The company is controlled by the directors.