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Registered number: NI691497
QUARTZ HOLDCO LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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QUARTZ HOLDCO LIMITED
REGISTERED NUMBER: NI691497
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2025.
The notes on pages 2 to 5 form part of these financial statements.
Page 1
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QUARTZ HOLDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Quartz Holdco Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 181 Pollys Brea Road, Dungiven, Londonderry, BT47 4NX.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
During the year the company incurred losses of £3,189,152 (2023: £248,139), and has net current liabilities of £3,437,191 (2023: £248,039). The company has the support and continues to have the support from other group companies which will allow it to meet its obligations during the course of the 12 months following the date of signing the financial statements.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 2
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QUARTZ HOLDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
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The average monthly number of employees, including directors, during the year was 0 (2023 - 0).
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the company:
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Potter Cowan & Company (Belfast) Limited
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20 Duncrue Crescent, Belfast, Antrim,
BT3 9BW
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Page 3
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QUARTZ HOLDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
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Creditors: Amounts falling due after more than one year
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Page 4
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QUARTZ HOLDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Bank loans are secured by way of a fixed and floating charge over the assets of the company and a cross guarantee from Potter Cowan (Belfast) Limited and Errigal Contracts Group Limited.
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The immediate and ultimate parent undertaking of the company is Errigal Contracts Group Limited, a company registered in the Republic of Ireland.
The smallest and largest undertaking of which the company is a member, and for which group financial statements are prepared is Errigal Contracts Group Limited, a company incorporated in the Republic of Ireland. Group financial statements for this company are prepared and are available to the public from the company's registered office.
Mr Damien Treanor and Mr Cormac McCloskey are considered to be the ultimate controlling parties of Errigal Contracts Limited by virtue of their shareholding in the parent company.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 9 September 2025 by Teresa Campbell (Senior statutory auditor) on behalf of AAB Group Accountants Limited.
Page 5
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