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Company No: 13891875 (England and Wales)

QUINVEST LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

QUINVEST LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

QUINVEST LTD

BALANCE SHEET

As at 30 June 2024
QUINVEST LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 30.06.2023
£ £
Fixed assets
Investments 3 1,387,884 287,468
1,387,884 287,468
Current assets
Debtors 4 0 1,100,416
0 1,100,416
Creditors: amounts falling due within one year 5 ( 1,080,389) ( 960,336)
Net current (liabilities)/assets (1,080,389) 140,080
Total assets less current liabilities 307,495 427,548
Creditors: amounts falling due after more than one year 6 ( 280,000) ( 420,000)
Net assets 27,495 7,548
Capital and reserves
Called-up share capital 7 4,500 4,500
Profit and loss account 22,995 3,048
Total shareholders' funds 27,495 7,548

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Quinvest Ltd (registered number: 13891875) were approved and authorised for issue by the Director on 18 February 2025. They were signed on its behalf by:

H H Quinlan
Director
QUINVEST LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
QUINVEST LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Quinvest Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The principal place of business is 45 High Street, Glastonbury, BA6 9DS.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Year ended
30.06.2024
Period from
03.02.2022 to
30.06.2023
Number Number
Monthly average number of persons employed by the Company during the year 0 0

3. Fixed asset investments

Investments in subsidiaries

30.06.2024
£
Cost
At 01 July 2023 287,468
Additions 1,387,884
Disposals ( 287,468)
At 30 June 2024 1,387,884
Carrying value at 30 June 2024 1,387,884
Carrying value at 30 June 2023 287,468

The company holds 100% of the shares in Archstone Limited. The principal activity of Archstone Limited is that of food retail in specialised stores.

4. Debtors

30.06.2024 30.06.2023
£ £
Amounts owed by Group undertakings 0 1,100,416

5. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Amounts owed to Group undertakings 359,557 207,322
Amounts owed to connected persons 376,113 390,113
Amounts owed to director 73,360 117,814
Other loans 140,000 140,000
Accruals 131,359 105,087
1,080,389 960,336

6. Creditors: amounts falling due after more than one year

30.06.2024 30.06.2023
£ £
Other loans 280,000 420,000

Other loans are secured by way of a fixed and floating charge over the assets of the company.

7. Called-up share capital

30.06.2024 30.06.2023
£ £
Allotted, called-up and fully-paid
4,500 Ordinary shares of £ 1.00 each 4,500 4,500

8. Related party transactions

The company has taken advantage of the exemption provided from disclosing transactions with its subsidiary on the basis that it is a wholly owned group.

At the period end the company owed £72,814 (2023: £119,181) to a connected person. Repayments of £45,000 (2023- £Nil) were made in the period and interest of £5,280 (2023 - £6,563) accrued. The loan accrues interest at 7% and is repayable on demand.

At the period end the company owed £282,363 (2023 - £350,724) to the same connected person. Repayments of £14,000 (2023- £16,184) were made in the period. additional capital of £nil (2023 - £40,001) was introduced and interest of £14,439 (2023 - £13,520) accrued. The loan accrues interest at 5% per annum and is repayable on demand.