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REGISTERED NUMBER: SC506725 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

QUIRAING LTD

QUIRAING LTD (REGISTERED NUMBER: SC506725)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


QUIRAING LTD

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A Twaddle





REGISTERED OFFICE: Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
Strathclyde
G2 6HJ





REGISTERED NUMBER: SC506725 (Scotland)





ACCOUNTANTS: SD Business Management
Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
Strathclyde
G2 6HJ

QUIRAING LTD (REGISTERED NUMBER: SC506725)

Abridged Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,942 2,363

CURRENT ASSETS
Debtors 448 9,087
Cash at bank 116,045 115,345
116,493 124,432
CREDITORS
Amounts falling due within one year 16,368 13,053
NET CURRENT ASSETS 100,125 111,379
TOTAL ASSETS LESS CURRENT LIABILITIES 102,067 113,742

PROVISIONS FOR LIABILITIES 369 449
NET ASSETS 101,698 113,293

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 101,648 113,243
SHAREHOLDERS' FUNDS 101,698 113,293

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

QUIRAING LTD (REGISTERED NUMBER: SC506725)

Abridged Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 December 2024 and were signed by:





A Twaddle - Director


QUIRAING LTD (REGISTERED NUMBER: SC506725)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Quiraing Ltd is a private company, limited by shares , registered in Scotland. 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.

In accordance with their responsibilities as director, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements.

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.
Plant and machinery etc - 33% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

QUIRAING LTD (REGISTERED NUMBER: SC506725)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 6,981
Additions 441
At 31 May 2024 7,422
DEPRECIATION
At 1 June 2023 4,618
Charge for year 862
At 31 May 2024 5,480
NET BOOK VALUE
At 31 May 2024 1,942
At 31 May 2023 2,363

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

No interest has been charged on the outstanding loan.