Company No:
Contents
Note | 30.06.2024 | 30.06.2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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1,387,884 | 287,468 | |||
Current assets | ||||
Debtors | 4 |
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0 | 1,100,416 | |||
Creditors: amounts falling due within one year | 5 | (
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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 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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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:
H H Quinlan
Director |
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.
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 £.
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.
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.
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 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.
Year ended 30.06.2024 |
Period from 03.02.2022 to 30.06.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year |
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Investments in subsidiaries
30.06.2024 | |
£ | |
Cost | |
At 01 July 2023 |
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Additions |
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Disposals | (
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At 30 June 2024 |
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Carrying value at 30 June 2024 |
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Carrying value at 30 June 2023 |
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The company holds 100% of the shares in Archstone Limited. The principal activity of Archstone Limited is that of food retail in specialised stores.
30.06.2024 | 30.06.2023 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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30.06.2024 | 30.06.2023 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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Amounts owed to connected persons |
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Amounts owed to director |
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Other loans |
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Accruals |
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30.06.2024 | 30.06.2023 | ||
£ | £ | ||
Other loans |
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30.06.2024 | 30.06.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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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.