Company registration number 10942801 (England and Wales)
THE QUARR GROUP HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
THE QUARR GROUP HOLDINGS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
THE QUARR GROUP HOLDINGS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. C. Howells
Mrs. D. Howells
Mr. S. Ingram
Mr. G. Pengelly
Mr. B. Warren
Mr. N. Williams
Mrs. K. Williams
Secretary
Mr. A. Jameson
Company number
10942801
Registered office
9 Acorn Business Centre
Northarbour Road
Portsmouth
Hampshire
United Kingdom
PO6 3TH
Auditor
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
THE QUARR GROUP HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
19,676,122
19,676,122
Current assets
Debtors
4
4,867
17,355
Cash at bank and in hand
23,819
3,118
28,686
20,473
Creditors: amounts falling due within one year
5
(13,862,699)
(16,017,934)
Net current liabilities
(13,834,013)
(15,997,461)
Total assets less current liabilities
5,842,109
3,678,661
Creditors: amounts falling due after more than one year
6
(3,039,173)
Net assets
2,802,936
3,678,661
Capital and reserves
Called up share capital
7
13
14
Capital redemption reserve
1
Profit and loss reserves
2,802,922
3,678,647
Total equity
2,802,936
3,678,661
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 15 January 2025 and are signed on its behalf by:
Mr. S. Ingram
Mr. B. Warren
Director
Director
Company registration number 10942801 (England and Wales)
THE QUARR GROUP HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 May 2022
14
4,478,233
4,478,247
Year ended 30 April 2023:
Loss and total comprehensive income
-
-
(799,586)
(799,586)
Balance at 30 April 2023
14
3,678,647
3,678,661
Year ended 30 April 2024:
Loss and total comprehensive income
-
-
(593,174)
(593,174)
Redemption of shares
7
(1)
1
(282,551)
(282,551)
Balance at 30 April 2024
13
1
2,802,922
2,802,936
THE QUARR GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information
The Quarr Group Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Acorn Business Centre, Northarbour Road, Portsmouth, Hampshire, United Kingdom, PO6 3TH.
During the year ended 30 April 2024, the Group disposed of its interests in its former trading subsidiaries; Mountjoy Limited, N-Viro Limited and Pabulum Limited.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
In previous years the company's financial statements were consolidated to include the results of its subsidiary, The Quarr Group Limited (together "the Group") and the trading subsidiaries; Mountjoy Limited, N-Viro Limited and Pabulum Limited. Following the disposal of the trading subsidiaries during the year ended 30 April 2024, the Group now qualifies as a small group in accordance with section 383 of Companies Act 2006, and is hence now exempt from the to prepare consolidated financial statements. Accordingly, these financial statements report the performance and position of the individual company only, and not of the Group.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks,
THE QUARR GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
THE QUARR GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
19,676,122
19,676,122
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,867
17,355
THE QUARR GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
88,130
Amounts owed to group undertakings
12,620,844
7,418,233
Other creditors
1,241,855
8,511,571
13,862,699
16,017,934
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,039,173
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
723 Ordinary A shares of 1p each (2023 - 723)
7
7
125 Ordinary B shares of 1p each (2023 - 224)
1
2
376 Ordinary C shares of 1p each (2023 - 376)
4
4
7 Ordinary D shares of 1p each (2023 - 7)
-
-
74 Ordinary E shares of 1p each (2023-74
1
1
13
14
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
James Blake FCA
Statutory Auditor:
TC Group
Date of audit report:
16 January 2025
THE QUARR GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
9
Parent company
The company is controlled by the directors by virtue of their majority shareholdings. There is not considered to be one ultimate controlling party.