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REGISTERED NUMBER: 08744140 (England and Wales)















Unaudited Financial Statements

for the Period 29 May 2023 to 27 May 2024

for

Quinns & Co Limited

Quinns & Co Limited (Registered number: 08744140)






Contents of the Financial Statements
for the Period 29 May 2023 to 27 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Quinns & Co Limited

Company Information
for the Period 29 May 2023 to 27 May 2024







DIRECTOR: Mrs L C Quinn





REGISTERED OFFICE: 2-6 Main Street
Haworth
KEIGHLEY
West Yorkshire
BD22 8DA





REGISTERED NUMBER: 08744140 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Quinns & Co Limited (Registered number: 08744140)

Balance Sheet
27 May 2024

27.5.24 28.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 665,176 679,823

CURRENT ASSETS
Stocks 3,050 3,050
Debtors 6 11,679 6,214
Cash at bank and in hand 17,238 127
31,967 9,391
CREDITORS
Amounts falling due within one year 7 (171,587 ) (146,327 )
NET CURRENT LIABILITIES (139,620 ) (136,936 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

525,556

542,887

CREDITORS
Amounts falling due after more than one
year

8

(450,533

)

(450,927

)

PROVISIONS FOR LIABILITIES (3,007 ) (3,300 )
NET ASSETS 72,016 88,660

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 71,916 88,560
SHAREHOLDERS' FUNDS 72,016 88,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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.

Quinns & Co Limited (Registered number: 08744140)

Balance Sheet - continued
27 May 2024



The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





Mrs L C Quinn - Director


Quinns & Co Limited (Registered number: 08744140)

Notes to the Financial Statements
for the Period 29 May 2023 to 27 May 2024

1. STATUTORY INFORMATION

Quinns & Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts have been prepared on the going concern basis on the assumption of continued financial support by the directors of the company for the foreseeable future.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - at varying rates on cost
Computer equipment - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Quinns & Co Limited (Registered number: 08744140)

Notes to the Financial Statements - continued
for the Period 29 May 2023 to 27 May 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

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.

Quinns & Co Limited (Registered number: 08744140)

Notes to the Financial Statements - continued
for the Period 29 May 2023 to 27 May 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2023 - 15 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 29 May 2023
and 27 May 2024 752,387 39,681 1,367 793,435
DEPRECIATION
At 29 May 2023 90,151 22,156 1,305 113,612
Charge for period 12,888 1,752 7 14,647
At 27 May 2024 103,039 23,908 1,312 128,259
NET BOOK VALUE
At 27 May 2024 649,348 15,773 55 665,176
At 28 May 2023 662,236 17,525 62 679,823

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.5.24 28.5.23
£    £   
Other debtors 7,633 -
Prepayments 4,046 6,214
11,679 6,214

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.5.24 28.5.23
£    £   
Bank loans and overdrafts 60,622 60,717
Trade creditors 8,753 9,053
Tax 7,531 12,062
Social security and other taxes 66 466
Wages and salaries control - 908
VAT 17,320 10,473
Other creditors - 8,324
Directors' current accounts 71,699 34,720
Accrued expenses 5,596 9,604
171,587 146,327

Quinns & Co Limited (Registered number: 08744140)

Notes to the Financial Statements - continued
for the Period 29 May 2023 to 27 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
27.5.24 28.5.23
£    £   
Bank loans - 1-2 years 42,214 42,142
Bank loans - 2-5 years 118,779 116,613
Bank loans more 5 yr by instal 289,540 292,172
450,533 450,927

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 289,540 292,172

9. SECURED DEBTS

The following secured debts are included within creditors:

27.5.24 28.5.23
£    £   
Bank loans 511,155 -

10. RELATED PARTY DISCLOSURES

Amounts owed to director of £72k, is interest free and repayable on demand.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Quinns & Co 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 Quinns & Co Limited for the period ended 27 May 2024 which comprise the Statement of Income and Retained Earnings, 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 Quinns & Co Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quinns & Co Limited and state those matters that we have agreed to state to the director of Quinns & Co 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 Quinns & Co Limited and its director for our work or for this report.

It is your duty to ensure that Quinns & Co 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 loss of Quinns & Co Limited. You consider that Quinns & Co Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Quinns & Co 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.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


26 February 2025