Company Registration No. 06304569 (England and Wales)
Quattro Sports Limited
Unaudited accounts
for the year ended 31 July 2024
Quattro Sports Limited
Unaudited accounts
Contents
Quattro Sports Limited
Company Information
for the year ended 31 July 2024
Company Number
06304569 (England and Wales)
Registered Office
72 Sands Lane
Scotter
Lincolnshire
DN21 3TS
United Kingdom
Accountants
Elevate Accounting Solutions Limited
14 John Bradshaw Court
Alexandria Way
Congleton
CW12 1LB
Quattro Sports Limited
Statement of financial position
as at 31 July 2024
Tangible assets
21,369
2,181
Inventories
401,530
471,558
Cash at bank and in hand
969
56,603
Creditors: amounts falling due within one year
(163,021)
(285,716)
Net current assets
243,518
246,367
Total assets less current liabilities
264,955
248,650
Creditors: amounts falling due after more than one year
(9,341)
-
Provisions for liabilities
Net assets
251,541
248,216
Called up share capital
103
103
Profit and loss account
251,438
248,113
Shareholders' funds
251,541
248,216
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 January 2025 and were signed on its behalf by
Peter White
Director
Company Registration No. 06304569
Quattro Sports Limited
Notes to the Accounts
for the year ended 31 July 2024
Quattro Sports Limited is a private company, limited by shares, registered in England and Wales, registration number 06304569. The registered office is 72 Sands Lane, Scotter, Lincolnshire, DN21 3TS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years - straight line on cost
Motor vehicles
3 years - straight line on cost
Computer equipment
3 years - straight line on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Quattro Sports Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
5,301
8,500
8,770
22,571
Additions
23,942
-
1,784
25,726
At 31 July 2024
29,243
8,500
10,554
48,297
At 1 August 2023
4,768
8,500
7,122
20,390
Charge for the year
5,043
-
1,495
6,538
At 31 July 2024
9,811
8,500
8,617
26,928
At 31 July 2024
19,432
-
1,937
21,369
At 31 July 2023
533
-
1,648
2,181
Amounts falling due within one year
Accrued income and prepayments
2,870
2,772
Quattro Sports Limited
Notes to the Accounts
for the year ended 31 July 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
78,831
80,894
Obligations under finance leases and hire purchase contracts
6,007
-
Trade creditors
45,414
113,568
Taxes and social security
4,200
35,035
Other creditors
(2,516)
404
Loans from directors
-
12,581
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
9,341
-
9
Average number of employees
During the year the average number of employees was 4 (2023: 5).