Company Registration No. 04445312 (England and Wales)
QUORUM DEVELOPMENT LTD
Unaudited accounts
for the year ended 31 May 2024
QUORUM DEVELOPMENT LTD
Unaudited accounts
Contents
QUORUM DEVELOPMENT LTD
Company Information
for the year ended 31 May 2024
Directors
N Fothergill
P Fothergill
P Usher
Company Number
04445312 (England and Wales)
Registered Office
Office F1, Explorer 2 Thomas Wright Way
Net Park
Sedgefield
County Durham
TS21 3FF
England
Accountants
Abacus Jack Ltd
New Century House
Crowther Road
Washington
Tyne and Wear
NE38 0QA
QUORUM DEVELOPMENT LTD
Statement of financial position
as at 31 May 2024
Tangible assets
95,469
89,868
Cash at bank and in hand
525,096
600,530
Creditors: amounts falling due within one year
(763,909)
(699,601)
Net current assets
279,929
308,138
Total assets less current liabilities
375,398
398,006
Provisions for liabilities
Deferred tax
(23,868)
(7,314)
Net assets
351,530
390,692
Called up share capital
61
61
Capital redemption reserve
56
56
Profit and loss account
351,413
390,575
Shareholders' funds
351,530
390,692
For the year ending 31 May 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 directors acknowledge their 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 of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by
P Fothergill
Director
Company Registration No. 04445312
QUORUM DEVELOPMENT LTD
Notes to the Accounts
for the year ended 31 May 2024
QUORUM DEVELOPMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 04445312. The registered office is Office F1, Explorer 2 Thomas Wright Way, Net Park, Sedgefield, County Durham, TS21 3FF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on cost
Fixtures & fittings
15% on cost
Computer equipment
20% on cost
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
47,520
10,139
185,082
242,741
Additions
-
1,375
36,887
38,262
At 31 May 2024
47,520
11,514
221,969
281,003
At 1 June 2023
1,980
7,645
143,248
152,873
Charge for the year
11,880
1,500
19,281
32,661
At 31 May 2024
13,860
9,145
162,529
185,534
At 31 May 2024
33,660
2,369
59,440
95,469
At 31 May 2023
45,540
2,494
41,834
89,868
QUORUM DEVELOPMENT LTD
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Trade debtors
510,049
382,915
Accrued income and prepayments
8,693
21,706
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
21,679
25,604
Taxes and social security
171,616
171,224
Other creditors
6,878
5,615
Loans from directors
2,545
2,025
Deferred income
413,884
381,435
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Average number of employees
During the year the average number of employees was 26 (2023: 24).