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Registered number: 08925566
Quinplex Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08925566
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 538,648 498,619
538,648 498,619
CURRENT ASSETS
Stocks 5 49,875 94,696
Debtors 6 205,782 266,912
Cash at bank and in hand 123,072 47,735
378,729 409,343
Creditors: Amounts Falling Due Within One Year 7 (449,459 ) (360,651 )
NET CURRENT ASSETS (LIABILITIES) (70,730 ) 48,692
TOTAL ASSETS LESS CURRENT LIABILITIES 467,918 547,311
Creditors: Amounts Falling Due After More Than One Year 8 (386,971 ) (476,996 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (41,784 ) (32,590 )
NET ASSETS 39,163 37,725
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 39,063 37,625
SHAREHOLDERS' FUNDS 39,163 37,725
Page 1
Page 2
For the year ending 31 March 2025 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David O'Brien
Director
21 July 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Quinplex Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08925566 . The registered office is Quinplex House, Birch Heath Road, Tarporley, CW6 9UR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% reducing balance
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment Straight line 3 years
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 31 (2024: 32)
31 32
4. Tangible Assets
Land & Property
Freehold Investment Properties Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 April 2024 320,000 95,777 80,702 343,543
Additions - - - 99,256
Disposals - - - (38,553 )
As at 31 March 2025 320,000 95,777 80,702 404,246
Depreciation
As at 1 April 2024 38,421 13,227 57,392 236,476
Provided during the period 5,632 1,651 4,675 43,583
Disposals - - - (35,343 )
As at 31 March 2025 44,053 14,878 62,067 244,716
Net Book Value
As at 31 March 2025 275,947 80,899 18,635 159,530
As at 1 April 2024 281,579 82,550 23,310 107,067
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Page 5
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 4,550 28,385 872,957
Additions - 1,595 100,851
Disposals - - (38,553 )
As at 31 March 2025 4,550 29,980 935,255
Depreciation
As at 1 April 2024 3,893 24,929 374,338
Provided during the period 131 1,940 57,612
Disposals - - (35,343 )
As at 31 March 2025 4,024 26,869 396,607
Net Book Value
As at 31 March 2025 526 3,111 538,648
As at 1 April 2024 657 3,456 498,619
5. Stocks
2025 2024
£ £
Materials 14,750 12,987
Work in progress 35,125 81,709
49,875 94,696
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 179,860 231,553
Prepayments and accrued income 25,922 35,359
205,782 266,912
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 30,548 17,252
Trade creditors 111,592 131,633
Bank loans and overdrafts 45,224 39,430
Corporation tax 3,633 14,415
Other taxes and social security 15,283 20,641
VAT 97,375 60,794
Other creditors 12,170 11,909
Accruals and deferred income 133,634 64,258
Directors' loan accounts - 319
449,459 360,651
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 108,533 48,143
Bank loans 278,438 428,853
386,971 476,996
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 30,548 17,252
Later than one year and not later than five years 108,533 48,143
139,081 65,395
139,081 65,395
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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