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REGISTERED NUMBER: 03417262 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MARTIN QUIGLEY LIMITED

MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARTIN QUIGLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M Quigley





SECRETARY: J L Greenstock





REGISTERED OFFICE: Windover House
St. Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 03417262 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,989 25,722
Investments 5 67,893 100
Investment property 6 395,349 518,499
484,231 544,321

CURRENT ASSETS
Stocks 20,875 27,875
Debtors 7 1,214,783 1,262,394
Cash at bank 13,209 30,224
1,248,867 1,320,493
CREDITORS
Amounts falling due within one year 8 47,225 75,550
NET CURRENT ASSETS 1,201,642 1,244,943
TOTAL ASSETS LESS CURRENT LIABILITIES 1,685,873 1,789,264

CREDITORS
Amounts falling due after more than one
year

9

(11,674

)

(21,674

)

PROVISIONS FOR LIABILITIES (26,021 ) (34,747 )
NET ASSETS 1,648,178 1,732,843

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Fair value reserve 12 200,170 275,091
Retained earnings 1,447,008 1,456,752
SHAREHOLDERS' FUNDS 1,648,178 1,732,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 20 November 2024 and were signed by:





M Quigley - Director


MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Martin Quigley 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Revaluation of investment property
The company carries its investment property at fair value. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. The method used to determine the fair value of investment property are further explained in Note 7.

Turnover
Turnover represents amounts invoiced to outside customers except in respect of contracting activities where turnover represents the value of work carried out during the year including amounts not invoiced. Turnover excludes value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property represents the company's portfolio of properties. It is initially recognised at cost, which includes purchase cost and any directly attributable expenditure.

Investment property is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Profit recognition on contracting activities
Profit on individual contracts is taken only when their outcome can be foreseen with reasonable certainty. Full provision is made for all known or expected losses on individual contracts, taking into account agreed claims.

Debtors
Debtors are measured at their recoverable amount.

MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 94,443
Additions 890
At 31 March 2024 95,333
DEPRECIATION
At 1 April 2023 68,721
Charge for year 5,623
At 31 March 2024 74,344
NET BOOK VALUE
At 31 March 2024 20,989
At 31 March 2023 25,722


5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2023 100 - 100
Additions - 67,793 67,793
At 31 March 2024 100 67,793 67,893
NET BOOK VALUE
At 31 March 2024 100 67,793 67,893
At 31 March 2023 100 - 100

MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 518,499
Additions 35,623
Disposals (130,871 )
Revaluations (27,902 )
At 31 March 2024 395,349
NET BOOK VALUE
At 31 March 2024 395,349
At 31 March 2023 518,499

Investment property represents the company's portfolio of properties. The fair value (open market basis) of investment property was assessed by the directors at 31 March 2024. The directors took into account the quality of the investment portfolio as well as current market conditions. It is not the intention of the directors to dispose of the company's entire investment portfolio in the foreseeable future.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 395,349

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,379 86,764
Amounts owed by associates 1,102,482 907,555
Other debtors 110,922 268,075
1,214,783 1,262,394

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 2,104 3,102
Taxation and social security 7,641 16,371
Other creditors 27,480 46,077
47,225 75,550

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,674 21,674

MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 21,674 31,674

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
950 Ordinary A £1 950 950
50 Ordinary B £1 50 50
1,000 1,000

The Ordinary A and B shares rank pari passu in all respects.

12. RESERVES
Fair
value
reserve
£   
At 1 April 2023 275,091
Investment property revaluation (92,495 )
Fair value reserve deferred tax 17,574

At 31 March 2024 200,170

Fair value reserve:
This reserve is used to record gains in the fair value of investment property and losses to the extent that such a loss relates to a previous gain on the same asset. It is also used to record the corresponding deferred tax (charge)/credit on fair value changes in investment property.

MARTIN QUIGLEY LIMITED (REGISTERED NUMBER: 03417262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M Quigley
Balance outstanding at start of year - -
Amounts advanced 83,436 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 83,436 -

The loan was repaid in full on 6th April 2024.

14. RELATED PARTY DISCLOSURES

As at 31 March 2023 the company owed £36,103 to the director of the company.