REGISTERED NUMBER: 08904579 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2023 TO 31 AUGUST 2024

FOR

QUINN DEVELOPMENTS NW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs E A Quinn

Mr P Quinn

REGISTERED OFFICE:

30 Lees Road,

Knowsley Industrial Park North,

Liverpool

L33 7SE

REGISTERED NUMBER:

08904579 (England and Wales)

ACCOUNTANTS:

React Business Services

Southbridge House

Southbridge Place

Croydon

CR0 4HA

FIXED ASSETS

Tangible assets

4

562,692

422,782

CURRENT ASSETS

Stocks

321,985

169,692

Debtors

5

4,844,944

2,460,382

Cash at bank

397,307

78,248

5,564,236

2,708,322

CREDITORS

Amounts falling due within one year

6

5,061,683

2,088,217

NET CURRENT ASSETS

502,553

620,105

TOTAL ASSETS LESS CURRENT LIABILITIES

1,065,245

1,042,887

CREDITORS

Amounts falling due after more than one year

7

403,831

498,195

NET ASSETS

661,414

544,692

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

661,314

544,592

661,414

544,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:

Mr P Quinn - Director

1.	STATUTORY INFORMATION

Quinn Developments Nw Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 March 2023

182,384

567,104

48,739

Additions

-

420,533

1,998

At 31 August 2024

182,384

987,637

50,737

DEPRECIATION

At 1 March 2023

45,596

393,427

18,695

Charge for period

68,394

297,888

16,456

At 31 August 2024

113,990

691,315

35,151

NET BOOK VALUE

At 31 August 2024

68,394

296,322

15,586

At 28 February 2023

136,788

173,677

30,044

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2023

193,642

83,096

1,074,965

Additions

154,990

33,840

611,361

At 31 August 2024

348,632

116,936

1,686,326

DEPRECIATION

At 1 March 2023

154,168

40,297

652,183

Charge for period

54,085

34,628

471,451

At 31 August 2024

208,253

74,925

1,123,634

NET BOOK VALUE

At 31 August 2024

140,379

42,011

562,692

At 28 February 2023

39,474

42,799

422,782

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

28.2.23

£

£

Trade debtors

2,431,811

1,273,899

Other debtors

2,413,133

1,186,483

4,844,944

2,460,382

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

28.2.23

£

£

Bank loans and overdrafts

1,136,608

468,211

Finance leases

-

19,914

Trade creditors

2,209,823

1,206,531

Taxation and social security

498,301

322,844

Other creditors

1,216,951

70,717

5,061,683

2,088,217

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

28.2.23

£

£

Bank loans

129,090

204,227

Finance leases

274,741

293,968

403,831

498,195

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 August 2024 and the year ended 28 February 2023:

31.8.24

28.2.23

£

£

Mr P Quinn and Mrs E A Quinn

Balance outstanding at start of period

432,125

163,080

Amounts advanced

1,005,657

433,045

Amounts repaid

(400,000

)

(164,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

1,037,782

432,125

Included in the other debtors is the amount due by the directors of the company £1,037,782 (2023: £432,125) This is an interest bearing loan and repayable on demand.