Registration number:
Quickfire Holdings Limited
for the Year Ended 30 November 2024
Quickfire Holdings Limited
(Registration number: 05298464)
Balance Sheet as at 30 November 2024
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2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
.........................................
S K Martin
Company secretary and director
Quickfire Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
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Accounting policies |
Statutory information
Quickfire Holdings Limited is a private company, limited by shares, domiciled in England and Wales, company number 05298464. The registered office is at 19 Norton Church Glebe, Sheffield, S8 8JX.
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover represents the income arising from property lettings. Revenue is recognised on a straight line basis over the lease term.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
Investment property
Quickfire Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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Accounting policies (continued) |
Financial instruments
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Staff numbers |
The average number of persons employed by the company during the year, was
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Tangible assets |
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Investment property |
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Valuation |
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At 1 December 2023 |
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At 30 November 2024 |
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Carrying amount |
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At 30 November 2024 |
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At 30 November 2023 |
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The investment property was revalued by an external valuer on an open market basis as at 3 February 2023. The directors feel that the value as at 30 November 2024 is not materially different to the external valuation. The historical cost of the property is £109,514 (2023: £109,514).
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Other debtors |
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Quickfire Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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Creditors |
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2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Related party transactions |
During the year the company had an interest free loan account with Quickfire Tableware Limited, a company under common control. The amount due at the balance sheet date was £82,411 (2023: £97,411).