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Registered number: 11186126
Quince and Clover Ltd.
Unaudited Financial Statements
For The Year Ended 28 February 2025
Stack & Jones Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11186126
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 37,270 49,769
37,270 49,769
CURRENT ASSETS
Stocks 5 4,000 2,000
Debtors 6 53,287 126,220
Cash at bank and in hand 12,170 49,559
69,457 177,779
Creditors: Amounts Falling Due Within One Year 7 (69,089 ) (60,545 )
NET CURRENT ASSETS (LIABILITIES) 368 117,234
TOTAL ASSETS LESS CURRENT LIABILITIES 37,638 167,003
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,318 ) (9,457 )
NET ASSETS 28,320 157,546
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 28,319 157,545
SHAREHOLDERS' FUNDS 28,320 157,546
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Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Daniel Mann
Director
29/07/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Quince and Clover Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 11186126 . The registered office is Unit 4, Willows Gate Stoke Lyne Road, Stratton Audley, Bicester, Oxfordshire, OX27 9AU.
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:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. 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.
2.5. 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 years 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 assets 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.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2024: 66)
16 66
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 29 February 2024 93,588 25,677 2,793 122,058
As at 28 February 2025 93,588 25,677 2,793 122,058
Depreciation
As at 29 February 2024 53,626 16,588 2,075 72,289
Provided during the period 9,990 2,272 237 12,499
As at 28 February 2025 63,616 18,860 2,312 84,788
Net Book Value
As at 28 February 2025 29,972 6,817 481 37,270
As at 29 February 2024 39,962 9,089 718 49,769
5. Stocks
2025 2024
£ £
Finished goods 4,000 2,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 101 33,001
Other debtors - 10,001
Rent deposit 1,432 3,375
Related Party debtors 51,754 52,133
Director's loan account - 27,710
53,287 126,220
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 6,983 2,124
Corporation tax 7,279 27,426
Other taxes and social security 152 2,728
VAT 3,948 17,007
Net wages 114 -
Accruals and deferred income 49,559 11,260
Director's loan account 1,054 -
69,089 60,545
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
9. Related Party Transactions
During the year, the company made purchases totaling £13,755 (2024: £14,691) and sales totaling £22,931 (2024: £11,350) with a company under common control of the Director.
At the end of the year, the company was owed £51,754 (2024: £62,134) by companies under the common control of the Director.
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