Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 11993126 Mr Alex Falco iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11993126 2023-05-31 11993126 2024-05-31 11993126 2023-06-01 2024-05-31 11993126 frs-core:CurrentFinancialInstruments 2024-05-31 11993126 frs-core:Non-currentFinancialInstruments 2024-05-31 11993126 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 11993126 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 11993126 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 11993126 frs-core:PlantMachinery 2024-05-31 11993126 frs-core:PlantMachinery 2023-06-01 2024-05-31 11993126 frs-core:PlantMachinery 2023-05-31 11993126 frs-core:ShareCapital 2024-05-31 11993126 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11993126 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11993126 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11993126 frs-bus:SmallEntities 2023-06-01 2024-05-31 11993126 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11993126 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11993126 frs-bus:Director1 2023-06-01 2024-05-31 11993126 frs-core:CurrentFinancialInstruments 1 2024-05-31 11993126 frs-countries:EnglandWales 2023-06-01 2024-05-31 11993126 2022-05-31 11993126 2023-05-31 11993126 2022-06-01 2023-05-31 11993126 frs-core:CurrentFinancialInstruments 2023-05-31 11993126 frs-core:Non-currentFinancialInstruments 2023-05-31 11993126 frs-core:ShareCapital 2023-05-31 11993126 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 11993126 frs-core:CurrentFinancialInstruments 1 2023-05-31
Registered number: 11993126
Quinn Falco Trading Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Michaels Tax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11993126
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 252,706 255,134
252,706 255,134
CURRENT ASSETS
Cash at bank and in hand 231 438
231 438
Creditors: Amounts Falling Due Within One Year 6 (145,957 ) (89,838 )
NET CURRENT ASSETS (LIABILITIES) (145,726 ) (89,400 )
TOTAL ASSETS LESS CURRENT LIABILITIES 106,980 165,734
Creditors: Amounts Falling Due After More Than One Year 7 (120,545 ) (132,939 )
NET (LIABILITIES)/ASSETS (13,565 ) 32,795
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (13,665 ) 32,695
SHAREHOLDERS' FUNDS (13,565) 32,795
Page 1
Page 2
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alex Falco
Director
31/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Quinn Falco Trading Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11993126 . The registered office is 18 Hadley Grove , Barnet, EN5 4PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold n / a
Plant & Machinery 20% straight line method
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 June 2023 242,996 23,079 266,075
As at 31 May 2024 242,996 23,079 266,075
Depreciation
As at 1 June 2023 - 10,941 10,941
Provided during the period - 2,428 2,428
As at 31 May 2024 - 13,369 13,369
Net Book Value
As at 31 May 2024 242,996 9,710 252,706
As at 1 June 2023 242,996 12,138 255,134
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Credit card 9,580 462
Accruals and deferred income 1,750 1,500
Director's loan account 134,627 87,876
145,957 89,838
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
LF loan 9,000 9,000
Mortgage 111,545 123,939
120,545 132,939
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4