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Registration number: 14873583

Quin Design Limited

Unaudited Filleted Financial Statements

for the Period from 16 May 2023 to 31 October 2024

 

Quin Design Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Quin Design Limited

Company Information

Directors

Dawn Carol Marie Jowers

Anirudha Surabhi

Conrad Henry Lewis

Registered office

Hammersmith Studios Unit 2
55A Yeldham Road
London
W6 8JF

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Quin Design Limited

(Registration number: 14873583)
Balance Sheet as at 31 October 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

117,442

Current assets

 

Debtors

5

134,524

Cash at bank and in hand

 

1,295

 

135,819

Creditors: Amounts falling due within one year

6

(123,367)

Net current assets

 

12,452

Total assets less current liabilities

 

129,894

Creditors: Amounts falling due after more than one year

6

(956,122)

Net liabilities

 

(826,228)

Capital and reserves

 

Called up share capital

7

1

Retained earnings

(826,229)

Shareholders' deficit

 

(826,228)

For the financial period ending 31 October 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 May 2025 and signed on its behalf by:
 

 

Quin Design Limited

(Registration number: 14873583)
Balance Sheet as at 31 October 2024

.........................................
Dawn Carol Marie Jowers
Director

.........................................
Conrad Henry Lewis
Director

 

Quin Design Limited

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Hammersmith Studios Unit 2
55A Yeldham Road
London
W6 8JF

These financial statements were authorised for issue by the Board on 13 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Quin Design Limited

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 October 2024

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in
the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns,
rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% Straight Line

Motor Vehicles

25% Straight Line

Leasehold Improvements

15% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Quin Design Limited

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6.

 

Quin Design Limited

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 October 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

11,726

78,830

25,910

11,420

127,886

At 31 October 2024

11,726

78,830

25,910

11,420

127,886

Depreciation

Charge for the period

417

6,527

3,500

-

10,444

At 31 October 2024

417

6,527

3,500

-

10,444

Carrying amount

At 31 October 2024

11,309

72,303

22,410

11,420

117,442

 

Quin Design Limited

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 October 2024

5

Debtors

Current

2024
£

Prepayments

16,567

Other debtors

117,957

 

134,524

 

Quin Design Limited

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

96,253

Taxation and social security

14,933

Accruals and deferred income

3,000

Other creditors

9,181

123,367

Creditors: amounts falling due after more than one year

2024
£

Due after one year

Other non-current financial liabilities

956,122

7

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £1 each

1

1

     

8

Related party transactions

Included within other creditors due after more than one year, is an amount owed to Quintessential Design Inc of £956,122.

9

Parent and ultimate parent undertaking

The company's immediate parent is Quintessential Design Inc , incorporated in United States of America.