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Company Registration No. 04020348 (England and Wales)
Syed & Quinn Limited Unaudited accounts for the year ended 30 June 2024
Syed & Quinn Limited Unaudited accounts Contents
Page
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Syed & Quinn Limited Company Information for the year ended 30 June 2024
Directors
P Quinn J Syed
Company Number
04020348 (England and Wales)
Registered Office
39 SUNFIELD CRESCENT BIRCHWOOD LINCOLN LN6 0LL ENGLAND
Accountants
Tove Accountancy Limited Office 6, Town Hall 86 Watling Street East Towcester Northants NN12 6BS
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Syed & Quinn Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,201 
1,334 
Current assets
Debtors
22,522 
44,203 
Cash at bank and in hand
(4,836)
(4,638)
17,686 
39,565 
Creditors: amounts falling due within one year
(18,652)
(47,148)
Net current liabilities
(966)
(7,583)
Total assets less current liabilities
235 
(6,249)
Provisions for liabilities
Deferred tax
(228)
(253)
Net assets/(liabilities)
7 
(6,502)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
5 
(6,504)
Shareholders' funds
7 
(6,502)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by
P Quinn Director Company Registration No. 04020348
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Syed & Quinn Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Syed & Quinn Limited is a private company, limited by shares, registered in England and Wales, registration number 04020348. The registered office is 39 SUNFIELD CRESCENT, BIRCHWOOD, LINCOLN, LN6 0LL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Computer equipment
10% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
3,506 
9,630 
13,136 
At 30 June 2024
3,506 
9,630 
13,136 
Depreciation
At 1 July 2023
3,506 
8,296 
11,802 
Charge for the year
- 
133 
133 
At 30 June 2024
3,506 
8,429 
11,935 
Net book value
At 30 June 2024
- 
1,201 
1,201 
At 30 June 2023
- 
1,334 
1,334 
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Syed & Quinn Limited Notes to the Accounts for the year ended 30 June 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
22,522 
44,203 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
11,578 
15,882 
Trade creditors
5,375 
1,645 
Taxes and social security
4,243 
10,180 
Other creditors
359 
15,536 
Loans from directors
(2,903)
3,905 
18,652 
47,148 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loans to Directors
- 
759 
- 
759 
Loans to Directors
- 
2,144 
- 
2,144 
- 
2,903 
- 
2,903 
Loans to Directors at the year end were £2,903 (2023 nil). These were repaid on 31.10.24.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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