Company Registration No. 09955031 (England and Wales)
Quaystone Investments Limited
Unaudited accounts
for the period from 1 September 2024 to 28 February 2025
Quaystone Investments Limited
Unaudited accounts
Contents
Quaystone Investments Limited
Company Information
for the period from 1 September 2024 to 28 February 2025
Company Number
09955031 (England and Wales)
Registered Office
Springside
Forest Road
East Horsley
Leatherhead
KT24 5AZ
Quaystone Investments Limited
Statement of financial position
as at 28 February 2025
Debtors
2,233,782
1,591,094
Cash at bank and in hand
70,753
5,777
Creditors: amounts falling due within one year
(348,388)
(1,068,743)
Net current assets
1,956,147
559,407
Net assets
1,956,247
570,210
Called up share capital
200
200
Profit and loss account
1,956,047
570,010
Shareholders' funds
1,956,247
570,210
For the period ending 28 February 2025 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 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 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 and authorised for issue on 10 March 2025 and were signed on its behalf by
J W Traynor
Director
Company Registration No. 09955031
Quaystone Investments Limited
Notes to the Accounts
for the period from 1 September 2024 to 28 February 2025
Quaystone Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 09955031. The registered office is Springside, Forest Road, East Horsley, Leatherhead, KT24 5AZ.
These financial statements comply with Financial Reporting Standard 102 Section 1A.
Following difficult trading conditions the company ceased trading and a liquidator will be appointed on 11 March 2025. Accordingly, the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes writing down the company's assets to net realisable value. Provision has been made for known costs of terminating the business. No provision has been made for liquidator costs.
Revenue, described as management charges, is the value of services (net of VAT) provided to group companies during the year. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year. Revenue is recognised on the sale of goods when the goods are delivered and title has passed.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles
33% per annum straight line
Computer equipment
33% per annum straight line
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is the average cost of the stock held at the balance sheet date. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying value is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit before tax.
The company contributes to a defined benefit small self-administered pension scheme. The pension charge represents the amount payable by the company to the fund in respect of the year.
Quaystone Investments Limited
Notes to the Accounts
for the period from 1 September 2024 to 28 February 2025
3
Tangible fixed assets
Land & buildings
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2024
-
51,050
4,320
55,370
Additions
874,056
-
-
874,056
Disposals
(874,056)
(51,050)
-
(925,106)
At 28 February 2025
-
-
4,320
4,320
At 1 September 2024
-
42,542
2,612
45,154
Charge for the period
-
5,874
1,708
7,582
On disposals
-
(48,416)
-
(48,416)
At 28 February 2025
-
-
4,320
4,320
At 28 February 2025
-
-
-
-
At 31 August 2024
-
8,508
1,708
10,216
4
Investments
Subsidiary undertakings
Valuation at 1 September 2024
587
Fair value adjustments
(400)
Valuation at 28 February 2025
100
The company's investments at the balance sheet date in 100% of the share capital of companies were as shown below. However, as the four dormant companies are being dissolved, their value has been written down to £NIL.
Company name and nature of business:
SGI Industries Ltd - Sales and Marketing £100
SGI Fix-master Ltd - Dormant - Dissolution application made
Maintech Products Ltd - Dormant - Dissolution application made
Splash Hogs Ltd - Dormant - Dissolution application made
QI Warehousing and Logistics Ltd - Dormant - Dissolution application made
Amounts falling due within one year
Amounts due from group undertakings etc.
810,846
1,307,035
Other debtors
1,422,936
284,059
Quaystone Investments Limited
Notes to the Accounts
for the period from 1 September 2024 to 28 February 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
-
74
Amounts owed to group undertakings and other participating interests
347,388
232,960
Taxes and social security
-
189,870
Other creditors
1,000
313,157
Loans from directors
-
332,682
7
Transactions with related parties
The following material related party transactions have not been conducted under normal market conditions:
The amounts owed to group undertakings of £347,388 (2024: £232,960) to subsidiary company, SGI Industries Ltd. These balances are repayable in demand and are not chargeable to interest.
The amounts owed by group undertakings of £810,846 (2024: £1,307,035) comprise amounts due from the company's holding company, Quaystone Holdings Ltd. These balances are repayable on demand and are not chargeable to interest.
Advances of £NIL (2024: £332,682) at the balance sheet date made by a director of the company is repayable on demand and are not subject to interest.
The company is a subsidiary, however, no consolidated financial statements are prepared for any group within which the company is a member.
9
Post balance sheet events
As referred to above a liquidator will be appointed on 11 March 2025 and therefore these accounts should be considered with this in mind.
A trading subsidiary, P-Wave Distributors Ltd was sold to a third party on 2 September 2024.
10
Average number of employees
During the period the average number of employees was 0 (2024: 0).