Company Registration No. 09955031 (England and Wales)
Quaystone Investments Limited
Unaudited accounts
for the year ended 31 August 2024
Quaystone Investments Limited
Unaudited accounts
Contents
Quaystone Investments Limited
Company Information
for the year ended 31 August 2024
Company Number
09955031 (England and Wales)
Registered Office
Springside
Forest Road
East Horsley
Leatherhead
KT24 5AZ
Quaystone Investments Limited
Statement of financial position
as at 31 August 2024
Tangible assets
10,216
25,979
Inventories
31,279
117,731
Debtors
1,591,094
1,455,583
Cash at bank and in hand
5,777
2,490
Creditors: amounts falling due within one year
(1,068,743)
(1,065,748)
Net current assets
559,407
510,056
Net assets
570,210
536,622
Called up share capital
200
200
Profit and loss account
570,010
536,422
Shareholders' funds
570,210
536,622
For the year ending 31 August 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 director acknowledges his 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 and authorised for issue on 10 January 2025 and were signed on its behalf by
J W Traynor
Director
Company Registration No. 09955031
Quaystone Investments Limited
Notes to the Accounts
for the year ended 31 August 2024
Quaystone Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 09955031. The registered office is Springside, Forest Road, East Horsley, Leatherhead, KT24 5AZ.
These financial statements comply with Financial Reporting Standard 102 Section 1A.
Going concern justification
The financial statements have been prepared on the going concern basis, which assumes that the company will be profitable and to receive group support to meet its liabilities as they fall due.
Revenue, described as management charges, is the value of services (net of VAT) provided to group companies during the year. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year. Revenue is recognised on the sale of goods when the goods are delivered and title has passed.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles
33% per annum straight line
Computer equipment
33% per annum straight line
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is the average cost of the stock held at the balance sheet date. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying value is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit before tax.
The company contributes to a defined benefit small self-administered pension scheme. The pension charge represents the amount payable by the company to the fund in respect of the year.
Quaystone Investments Limited
Notes to the Accounts
for the year ended 31 August 2024
3
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2023
51,050
1,888
52,938
At 31 August 2024
51,050
4,320
55,370
At 1 September 2023
25,525
1,434
26,959
Charge for the year
17,017
1,178
18,195
At 31 August 2024
42,542
2,612
45,154
At 31 August 2024
8,508
1,708
10,216
At 31 August 2023
25,525
454
25,979
4
Investments
Subsidiary undertakings
Valuation at 1 September 2023
587
Valuation at 31 August 2024
587
The company's investments at the balance sheet date in the share capital of companies were as shown below. All investments comprise 100% of the £1 Ordinary share capital of each company, except P-Wave Distributors Ltd, which is 87%.
Company name and nature of business:
SGI Industries Ltd - Sales and Marketing £100
SGI Fix-master Ltd - Dormant £100
P-Wave Distributors Ltd - Sales and Marketing £87
Maintech Products Ltd - Dormant £100
Splash Hogs Ltd - Dormant £100
QI Warehousing and Logistics Ltd - Dormant £100
Amounts falling due within one year
Amounts due from group undertakings etc.
1,307,035
756,969
Other debtors
284,059
698,614
Quaystone Investments Limited
Notes to the Accounts
for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
74
63
Amounts owed to group undertakings and other participating interests
232,960
542,603
Taxes and social security
189,870
9,950
Other creditors
313,157
11,668
Loans from directors
332,682
501,464
7
Transactions with related parties
The following material related party transactions have not been conducted under normal market conditions:
The amounts owed to group undertakings of £232,960 (2023: £542,603) to subsidiary company, SGI Industries Ltd. These balances are repayable in demand and are not chargeable to interest.
The amounts owed by group undertakings of £1,307,035 (2023: £756,969) comprise amounts due from the company's subsidiary P-Wave Distributors Ltd, and its holding company, Quaystone Holdings Ltd. These balances are repayable on demand and are not chargeable to interest.
Advances of £332,682 (2023: £501,464) at the balance sheet date made by a director of the company is repayable on demand and are not currently subject to interest.
The company is a subsidiary, however, no consolidated financial statements are prepared for any group within which the company is a member.
9
Post balance sheet events
A trading subsidiary, P-Wave Distributors Ltd was sold to a third party on 2 September 2024.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).