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REGISTERED NUMBER: 06643908 (England and Wales)



















Financial Statements

for the Year Ended 31 March 2024

for

Derby Quad Enterprises Limited

Derby Quad Enterprises Limited (Registered number: 06643908)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Derby Quad Enterprises Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M Gregory





REGISTERED OFFICE: Quad Market Place
Cathedral Quarter
Derby
Derbyshire
DE1 3AS





REGISTERED NUMBER: 06643908 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Derby Quad Enterprises Limited (Registered number: 06643908)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,133 6,355

CURRENT ASSETS
Stocks 5 11,124 11,125
Debtors 6 8,802 8,908
Cash at bank and in hand 93,999 70,486
113,925 90,519
CREDITORS
Amounts falling due within one year 7 95,045 91,847
NET CURRENT ASSETS/(LIABILITIES) 18,880 (1,328 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,013

5,027

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 27,012 5,026
27,013 5,027

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





M Gregory - Director


Derby Quad Enterprises Limited (Registered number: 06643908)

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

1. STATUTORY INFORMATION

Derby Quad Enterprises 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.

Going concern
In preparing the financial statements the directors are required to assess the Company's ability to adopt the going concern basis of accounting.

We are facing ongoing challenges against the cost-of-living crisis which is so keenly felt by Quad, our people and our customers. We are continuing to work diligently through these challenging times thanks to our incredible team of people who are all so passionate about QUADs vision, and to our primary partners.

The Finance Manager has prepared monthly cash flow forecasts through to March 2026, a period covering twelve months from the date of signing the financial statements, which have been approved by the director and Trustees of the charitable parent. These forecasts balance risk and opportunities, take account of the current economic conditions and factor in inflationary cost increases and assume funding levels consistent with those achieved historically, with sensitivity applied to the trading income considering the cost-of-living pressures.

The forecasts show that the Group has sufficient funds to discharge its liabilities when they fall due throughout the forecast period. Plans and discussions with key stakeholders are continuing in place to minimalise the cash flow risk in 2024/25 and to build further resilience beyond the action taken during 2024. Whilst those discussions continue, further resilience is not guaranteed, and the director and Trustees of the charitable parent have therefore concluded that there are matters that indicate the existence of material uncertainties which may cast significant doubt about the Company’s ability to continue as a going concern.

Notwithstanding this material uncertainty, having assessed all scenarios and the options available to the Group, the director and the Trustees of the charitable parent have formed the judgement that it is appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at the point of sale of the goods in the cafe and the foyer.

Rendering of services
When the outcome of the transaction can be estimated reliably, revenue from the rendering of services is recognised by reference to the stage of completion at the balance sheet date, usually the day the service is provided. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Derby Quad Enterprises Limited (Registered number: 06643908)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of the asset less their residual value over their estimated useful lives, using the straight-line method

Depreciation is provided on the following basis:

Plant and machinery - 20% Straight line
Fixtures and fittings - 20% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

Debtors
Debtors and creditors with no stated interest rate or that are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 25 ) .

Derby Quad Enterprises Limited (Registered number: 06643908)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 23,727 16,823 40,550
Additions - 4,230 4,230
At 31 March 2024 23,727 21,053 44,780
DEPRECIATION
At 1 April 2023 18,251 15,944 34,195
Charge for year 2,034 418 2,452
At 31 March 2024 20,285 16,362 36,647
NET BOOK VALUE
At 31 March 2024 3,442 4,691 8,133
At 31 March 2023 5,476 879 6,355

5. STOCKS
2024 2023
£    £   
Stocks 11,124 11,125

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,143 3,904
Other debtors 1,659 -
Prepayments and accrued income - 5,004
8,802 8,908

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,808 26,172
Amounts owed to group undertakings 38,223 41,403
Social security and other taxes 31,291 19,662
Other creditors 2,723 3,002
Accruals and deferred income 15,000 1,608
95,045 91,847

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sean Douglass FCA (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd