Registered number
09389386
Steve Quick Interior Solutions Limited
Filleted Accounts
31 January 2025
Steve Quick Interior Solutions Limited
Registered number: 09389386
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 20,515 27,582
Current assets
Stocks 965 1,165
Debtors 4 33,368 31,206
Cash at bank and in hand 8,008 6,509
42,341 38,880
Creditors: amounts falling due within one year 5 (36,644) (31,436)
Net current assets 5,697 7,444
Total assets less current liabilities 26,212 35,026
Creditors: amounts falling due after more than one year 6 (21,311) (29,694)
Provisions for liabilities (3,898) (5,240)
Net assets 1,003 92
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,001 90
Shareholders' funds 1,003 92
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.
Mrs Patricia Ann Seaford - Quick
Director
Approved by the board on 19 June 2025
Steve Quick Interior Solutions Limited
Notes to the Accounts
for the year ended 31 January 2025
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 3 years
Motor vehicles 25% reducing balance
Plant and machinery 20% reducing balance
Leasehold Improvements over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Leasehold improvements Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2024 6,797 35,993 49,495 92,285
At 31 January 2025 6,797 35,993 49,495 92,285
Depreciation
At 1 February 2024 5,527 28,375 30,801 64,703
Charge for the year 833 1,561 4,673 7,067
At 31 January 2025 6,360 29,936 35,474 71,770
Net book value
At 31 January 2025 437 6,057 14,021 20,515
At 31 January 2024 1,270 7,618 18,694 27,582
4 Debtors 2025 2024
£ £
Trade debtors 13,395 4,099
Other debtors 19,973 27,107
33,368 31,206
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 3,000 2,886
Obligations under finance lease and hire purchase contracts 5,269 5,269
Trade creditors 17,176 11,005
Taxation and social security costs 9,574 10,794
Other creditors 1,625 1,482
36,644 31,436
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 14,286 17,400
Obligations under finance lease and hire purchase contracts 7,025 12,294
21,311 29,694
7 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 7,200 7,200
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Steven John Quick 6,805 13,554 (6,805) 13,554
Miss Patricia Ann Seaford - Quick 6,805 13,554 (6,805) 13,554
13,610 27,108 (13,610) 27,108
9 Other information
Steve Quick Interior Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
5B Sunrise Business Park
Higher Shaftesbury Road
Blandford Forum
Dorset
DT11 8ST
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