2 2 Quincy Limited 10419979 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the provision of consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 10419979 2024-01-01 2024-12-31 10419979 2024-12-31 10419979 core:CurrentFinancialInstruments 2024-12-31 10419979 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10419979 core:FurnitureFittingsToolsEquipment 2024-12-31 10419979 bus:SmallEntities 2024-01-01 2024-12-31 10419979 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10419979 bus:FilletedAccounts 2024-01-01 2024-12-31 10419979 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10419979 bus:RegisteredOffice 2024-01-01 2024-12-31 10419979 bus:Director1 2024-01-01 2024-12-31 10419979 bus:Director2 2024-01-01 2024-12-31 10419979 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10419979 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 10419979 countries:UnitedKingdom 2024-01-01 2024-12-31 10419979 2023-12-31 10419979 core:FurnitureFittingsToolsEquipment 2023-12-31 10419979 2023-01-01 2023-12-31 10419979 2023-12-31 10419979 core:CurrentFinancialInstruments 2023-12-31 10419979 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10419979 core:FurnitureFittingsToolsEquipment 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 10419979

Quincy Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2024

 

Quincy Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Quincy Limited

Company Information

Directors

V. Vitali

N. Sabbaghian

Registered office

5th Floor
86 Jermyn Street
London
SW1Y 6AW

 

Quincy Limited

(Registration number: 10419979)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

181

361

Current assets

 

Debtors

66,229

67,953

Cash at bank and in hand

 

510,934

93,253

 

577,163

161,206

Creditors: Amounts falling due within one year

(108,371)

(2,728)

Net current assets

 

468,792

158,478

Total assets less current liabilities

 

468,973

158,839

Accruals and deferred income

 

(2,050)

(2,050)

Net assets

 

466,923

156,789

Capital and reserves

 

Called up share capital

100

100

Retained earnings

466,823

156,689

Shareholders' funds

 

466,923

156,789

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 March 2025 and signed on its behalf by:
 

.........................................

N. Sabbaghian

Director

 

Quincy Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
5th Floor
86 Jermyn Street
London
SW1Y 6AW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Pound Sterling which is the functional currency of the company and are rounded to the nearest whole Pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Quincy Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Quincy Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

541

541

At 31 December 2024

541

541

Depreciation

At 1 January 2024

180

180

Charge for the year

180

180

At 31 December 2024

360

360

Carrying amount

At 31 December 2024

181

181

At 31 December 2023

361

361