Registered number
07642162
Quinquevir Limited
Unaudited
Financial Statements
Information for Filing with the Registrar
30 June 2024
Quinquevir Limited
Registered number: 07642162
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 2,866,552 2,768,990
Creditors: amounts falling due within one year 5 (2,084,047) (2,083,772)
Net current assets 782,505 685,218
Net assets 782,505 685,218
Capital and reserves
Called up share capital 7 100 100
Profit and loss account 8 782,405 685,118
Shareholders' funds 782,505 685,218
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Young
Director
Approved by the board on 24 March 2025
The notes on pages 2 to 4 form part of these financial statements.
Quinquevir Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Interest Income
Interest income is recognised in the accounts using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of employees, including directors, during the year 5 5
3 Taxation 2024 2023
£ £
Corporation Tax
Current tax on profits for the year - 15,231
Total Current Tax - 15,231
Deferred tax
Origination and reversal of timing differences (124,588) -
Deferred tax movement on investment property - -
Total deferred tax (124,588) -
Taxation on profit/(loss) on ordinary actvities (124,588) 15,231
Factors Affecting Tax Charge for the Year
There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% & 25% (2023: 19% & 25%).
4 Debtors 2024 2023
£ £
Deferred tax asset 124,588 -
Other debtors 2,741,964 2,768,990
2,866,552 2,768,990
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 60 -
Taxation and social security costs - 15,231
Other creditors 1,353,264 1,353,264
Accruals and deferred income 730,723 715,277
2,084,047 2,083,772
6 Deferred taxation 2024 2023
£ £
At beginning of year - -
Charged to profit or loss (124,588) -
Charged to other comprehensive income - -
(124,588) -
In accordance with the requirements of FRS102, the company has recognised the deferred tax in respect of its Fixed Asset Investment Property which is held at its current market value. The deferred tax will only become payable should the company dispose of the property.
The provision for deferred taxation is made up as follows:
2024 2023
£ £
Fixed asset timing differences - -
Short term timing differences (124,329) -
Capital gain - -
Losses and other deductions (259) -
(124,588) -
7 Share Capital 2024 2023
£ £
Shares Classified as Equity
Allotted, called up and fully paid
100 Ordinary shares of £1 each 100 100
100 100
8 Reserves
Profit and Loss account
Includes all current and prior year retained profits and losses.
9 Related party transactions
As at 30 June 2024, the company owed a director £NIL (2023: £NIL). During the year, interest of £NIL (2023: £13,428) was charged on this loan, the total accrued interest as at the year end was £NIL (2023: £51,657), this is included in other creditors. The total amount owing to this director at the year end is £NIL (2023: £51,657).
As at 30 June 2024, the company owed another director £938,056 (2023: £938,056). During the year, interest of £46,903 (2023: £46,903) was charged on this loan, the total accrued interest as at the year end was £497,317 (2023: £450,414), this is included in other creditors. The total amount owing to this director at the year end is £1,435,373 (2023: £1,388,470).
As at 30 June 2024, the company owed a company under common control, £415,208 (2023: £415,208). Total accrued interest of £227,587 (2023: £206,826) was owed to this company as at 30 June 2024. Interest accrued for the year was £20,760 (2023: £20,760).
The company was owed £426,878 by another company under common control (2023: £495,771) at 30 June 2024. The total accrued interest on this loan at the year end was £704,022 (2023: £680,293) and this is included in other debtors. The net amount due from this company at 30 June 2024 was £488,105 (2023: £554,020).
As at 30 June 2024, the company was owed £1,605,699 (2023: £1,592,814) by a further company under common control. During the year, interest of £10,032 (2023: £60,098) was charged on this loan and has not been paid and is included in other debtors.
10 Other information
Quinquevir Limited is a private company limited by shares and incorporated in England. Its registered office is:
Airport Business Centre
Thornbury Road
Plymouth
Devon
PL6 7PP
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