BrightAccountsProduction v1.0.0 v1.0.0 2023-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is quarry plant and machinery maintenance. 31 March 2025 1 1 NI043565 2024-08-31 NI043565 2023-08-31 NI043565 2022-08-31 NI043565 2023-09-01 2024-08-31 NI043565 2022-09-01 2023-08-31 NI043565 uk-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI043565 uk-curr:PoundSterling 2023-09-01 2024-08-31 NI043565 uk-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NI043565 uk-bus:FullAccounts 2023-09-01 2024-08-31 NI043565 uk-core:ShareCapital 2024-08-31 NI043565 uk-core:ShareCapital 2023-08-31 NI043565 uk-core:RetainedEarningsAccumulatedLosses 2024-08-31 NI043565 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI043565 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-08-31 NI043565 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI043565 uk-bus:FRS102 2023-09-01 2024-08-31 NI043565 uk-core:PlantMachinery 2023-09-01 2024-08-31 NI043565 uk-core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 NI043565 uk-core:CurrentFinancialInstruments 2024-08-31 NI043565 uk-core:CurrentFinancialInstruments 2023-08-31 NI043565 uk-core:WithinOneYear 2024-08-31 NI043565 uk-core:WithinOneYear 2023-08-31 NI043565 uk-core:MoreThanFiveYears 2024-08-31 NI043565 uk-core:MoreThanFiveYears 2023-08-31 NI043565 uk-core:OtherMiscellaneousReserve 2023-08-31 NI043565 uk-core:OtherMiscellaneousReserve 2023-09-01 2024-08-31 NI043565 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-08-31 NI043565 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-08-31 NI043565 uk-core:OtherDeferredTax 2024-08-31 NI043565 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-08-31 NI043565 uk-core:OtherMiscellaneousReserve 2024-08-31 NI043565 2023-09-01 2024-08-31 NI043565 uk-bus:Director1 2023-09-01 2024-08-31 NI043565 uk-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI043565
 
 
Quarryfit Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 August 2024
Quarryfit Limited
Company Registration Number: NI043565
BALANCE SHEET
as at 31 August 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 10,129 11,110
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Current Assets
Stocks 5 300 300
Debtors 6 8,067 9,771
Cash and cash equivalents 2,066 6,270
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10,433 16,341
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Creditors: amounts falling due within one year 7 (9,071) (9,126)
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Net Current Assets 1,362 7,215
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Total Assets less Current Liabilities 11,491 18,325
 
Creditors:
amounts falling due after more than one year 8 (1,305) (263)
 
Provisions for liabilities 9 (2,532) (2,111)
 
Government grants 10 (912) (1,073)
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Net Assets 6,742 14,878
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Capital and Reserves
Called up share capital 2 2
Retained earnings 6,740 14,876
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Equity attributable to owners of the company 6,742 14,878
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The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 31 March 2025
           
           
________________________________          
Mr. Terence McGee          
Director          
           



Quarryfit Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 August 2024

   
1. General Information
 
Quarryfit Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is Mullaghslin, Carrickmore, Co. Tyrone, BT79 9PB which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 August 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Reducing Balance
  Fixtures, fittings and equipment - 15% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was
 
  2024 2023
  Number Number
 
Employees 1 1
  ═════════ ═════════
         
4. Tangible assets
  Plant and Fixtures, Total
  machinery fittings and  
    equipment  
  £ £ £
Cost
At 1 September 2023 82,584 1,451 84,035
Additions - 882 882
  ───────── ───────── ─────────
At 31 August 2024 82,584 2,333 84,917
  ───────── ───────── ─────────
Depreciation
At 1 September 2023 71,527 1,398 72,925
Charge for the financial year 1,723 140 1,863
  ───────── ───────── ─────────
At 31 August 2024 73,250 1,538 74,788
  ───────── ───────── ─────────
Net book value
At 31 August 2024 9,334 795 10,129
  ═════════ ═════════ ═════════
At 31 August 2023 11,057 53 11,110
  ═════════ ═════════ ═════════
       
5. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 300 300
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2024 2023
  £ £
 
Trade debtors 5,880 6,770
Taxation 1,197 1,351
Prepayments and accrued income 990 1,650
  ───────── ─────────
  8,067 9,771
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 402 683
Taxation 3,694 3,468
Accruals 4,975 4,975
  ───────── ─────────
  9,071 9,126
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Directors' Loan 1,305 263
  ═════════ ═════════
 
Loans
Repayable in five years or more 1,305 263
  ═════════ ═════════
 
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 2,111 2,111 2,498
Charged to profit and loss 421 421 (387)
  ───────── ───────── ─────────
At financial year end 2,532 2,532 2,111
  ═════════ ═════════ ═════════
       
10. Government Grants Deferred 2024 2023
  £ £
 
Capital grants received and receivable
At 1 September 2023 7,543 7,543
  ───────── ─────────
Amortisation
At 1 September 2023 (6,470) (6,281)
Amortised in financial year (161) (189)
  ───────── ─────────
 
At 31 August 2024 (6,631) (6,470)
  ───────── ─────────
Net book value
At 31 August 2024 912 1,073
  ═════════ ═════════
At 1 September 2023 1,073 1,262
  ═════════ ═════════
           
11. Related party transactions
 
At the start of the year the director had an opening Directors Loan Account balance of £263. During the year Quarryfit Ltd borrowed £30,875 and repaid £29,833 to the director. At the year end the amount owed to the director from Quarryfit Limited was £1,305 (2023: £263) and this is included in the creditors section of the balance sheet.