0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 4,453 1,217 5,670 1,061 1,134 2,195 3,475 3,392 128,795 306,717 657 434,855 434,855 128,795 xbrli:pure xbrli:shares iso4217:GBP 12644096 2023-07-01 2024-06-30 12644096 2024-06-30 12644096 2023-06-30 12644096 2022-07-01 2023-06-30 12644096 2023-06-30 12644096 2022-06-30 12644096 bus:Director1 2023-07-01 2024-06-30 12644096 core:PlantMachinery 2023-06-30 12644096 core:PlantMachinery 2024-06-30 12644096 core:PlantMachinery 2023-07-01 2024-06-30 12644096 core:WithinOneYear 2024-06-30 12644096 core:WithinOneYear 2023-06-30 12644096 core:ShareCapital 2024-06-30 12644096 core:ShareCapital 2023-06-30 12644096 core:RevaluationReserve 2024-06-30 12644096 core:RevaluationReserve 2023-06-30 12644096 core:RetainedEarningsAccumulatedLosses 2024-06-30 12644096 core:RetainedEarningsAccumulatedLosses 2023-06-30 12644096 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 12644096 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-06-30 12644096 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 12644096 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 12644096 core:Non-currentFinancialInstruments 2024-06-30 12644096 core:Non-currentFinancialInstruments 2023-06-30 12644096 core:PlantMachinery 2023-06-30 12644096 bus:SmallEntities 2023-07-01 2024-06-30 12644096 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12644096 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12644096 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12644096 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 12644096
QUARMBY INVESTMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
QUARMBY INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
3,475
3,392
Investments
5
434,855
128,795
-----------
-----------
438,330
132,187
CURRENT ASSETS
Stock
3,000
2,200
Debtors
6
14,580
14,090
Cash at bank and in hand
509,989
802,233
-----------
-----------
527,569
818,523
CREDITORS: amounts falling due within one year
7
6,968
3,019
-----------
-----------
NET CURRENT ASSETS
520,601
815,504
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
958,931
947,691
PROVISIONS
7,934
7,183
-----------
-----------
NET ASSETS
950,997
940,508
-----------
-----------
QUARMBY INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
1,658
1,658
Revaluation reserve
31,010
30,622
Profit and loss account
918,329
908,228
-----------
-----------
SHAREHOLDERS FUNDS
950,997
940,508
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 March 2025 , and are signed on behalf of the board by:
V L Kay
Director
Company registration number: 12644096
QUARMBY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. TANGIBLE ASSETS
Plant and machinery
£
Cost
At 1 July 2023
4,453
Additions
1,217
--------
At 30 June 2024
5,670
--------
Depreciation
At 1 July 2023
1,061
Charge for the year
1,134
--------
At 30 June 2024
2,195
--------
Carrying amount
At 30 June 2024
3,475
--------
At 30 June 2023
3,392
--------
5. INVESTMENTS
Other investments other than loans
£
Cost or revaluation
At 1 July 2023
128,795
Additions
306,717
Revaluations
( 657)
-----------
At 30 June 2024
434,855
-----------
Impairment
At 1 July 2023 and 30 June 2024
-----------
Carrying amount
At 30 June 2024
434,855
-----------
At 30 June 2023
128,795
-----------
Included within 'Other investments other than loans' is rental properties purchased during the year for £287,107 which the directors estimate have a current value of £287,000. If sold at this value no tax would be payable.
6. DEBTORS
2024
2023
£
£
Other debtors
14,580
14,090
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Corporation tax
1,758
Other creditors
5,210
3,019
--------
--------
6,968
3,019
--------
--------