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REGISTERED NUMBER: 07068416 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 April 2024

for

DROMQUINNA FINANCE LIMITED

DROMQUINNA FINANCE LIMITED (REGISTERED NUMBER: 07068416)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

DROMQUINNA FINANCE LIMITED

Company Information
for the year ended 30 April 2024







DIRECTOR: Mr S Mullens





REGISTERED OFFICE: Unit 14
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ





REGISTERED NUMBER: 07068416 (England and Wales)





ACCOUNTANTS: Trevor Jones & Partners Ltd
Unit 14
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ

DROMQUINNA FINANCE LIMITED (REGISTERED NUMBER: 07068416)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2 2
2 2

CURRENT ASSETS
Debtors 6 145,542 149,774
Cash at bank and in hand 12,987 10,191
158,529 159,965
CREDITORS
Amounts falling due within one year 7 136,936 128,538
NET CURRENT ASSETS 21,593 31,427
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,595

31,429

CREDITORS
Amounts falling due after more than one year 8 11,485 21,001
NET ASSETS 10,110 10,428

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 110 428
SHAREHOLDERS' FUNDS 10,110 10,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

DROMQUINNA FINANCE LIMITED (REGISTERED NUMBER: 07068416)

Balance Sheet - continued
30 April 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 5 December 2024 and were signed by:





Mr S B Mullens - Director


DROMQUINNA FINANCE LIMITED (REGISTERED NUMBER: 07068416)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Dromquinna Finance 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.

The financial statements are presented in sterling (£) which is also the functional currency for the company.

Turnover
The company's turnover represents commission receivable and is recognised to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on cost
Computer equipment - 33% on cost

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2023 - 4 ) .

DROMQUINNA FINANCE LIMITED (REGISTERED NUMBER: 07068416)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 50,000
AMORTISATION
At 1 May 2023
and 30 April 2024 50,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 10,000 7,623 17,623
DEPRECIATION
At 1 May 2023
and 30 April 2024 9,999 7,622 17,621
NET BOOK VALUE
At 30 April 2024 1 1 2
At 30 April 2023 1 1 2

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 145,542 149,774

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,114 13,990
Trade creditors - 1,634
Taxation and social security 120,622 109,632
Other creditors 6,200 3,282
136,936 128,538

DROMQUINNA FINANCE LIMITED (REGISTERED NUMBER: 07068416)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,485 21,001

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans - 7,000

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr S B Mullens
Balance outstanding at start of year 148,766 152,935
Amounts advanced - 133,331
Amounts repaid (4,232 ) (137,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 144,534 148,766

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £24,250 (2023 - £137,500) were paid to the director .

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S B Mullens.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Dromquinna Finance Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dromquinna Finance Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Dromquinna Finance Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dromquinna Finance Limited and state those matters that we have agreed to state to the director of Dromquinna Finance Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dromquinna Finance Limited and its director for our work or for this report.

It is your duty to ensure that Dromquinna Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dromquinna Finance Limited. You consider that Dromquinna Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Dromquinna Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Trevor Jones & Partners Ltd
Unit 14
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ


5 December 2024