REGISTERED NUMBER: 04364769 (England and Wales)

Queensbury Products Limited

Unaudited Financial Statements for the Year Ended 28 February 2025

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J D Knight

M J Hodge

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

04364769 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

National Westminster Bank plc

49 North Street

Taunton

Somerset

TA4 2JY

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,043,634

851,810

1,043,634

851,810

CURRENT ASSETS

Stocks

256,975

142,234

Debtors

1,191,456

798,475

Cash at bank and in hand

389,983

480,460

1,838,414

1,421,169

CREDITORS

Amounts falling due within one year

1,183,450

787,183

NET CURRENT ASSETS

654,964

633,986

TOTAL ASSETS LESS CURRENT LIABILITIES

1,698,598

1,485,796

CREDITORS

Amounts falling due after more than one year

(42,009

)

(131,415

)

PROVISIONS FOR LIABILITIES

(260,909

)

(212,953

)

NET ASSETS

1,395,680

1,141,428

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Share premium

10,000

10,000

Capital redemption reserve

2,500

2,500

Retained earnings

1,373,180

1,118,928

SHAREHOLDERS' FUNDS

1,395,680

1,141,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2025 and were signed on its behalf by:

M J Hodge - Director

1.	STATUTORY INFORMATION

Queensbury Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 24 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2024

and 28 February 2025

15,000

AMORTISATION

At 1 March 2024

and 28 February 2025

15,000

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2024

1,316,668

Additions

328,974

Disposals

(84,204

)

At 28 February 2025

1,561,438

DEPRECIATION

At 1 March 2024

464,858

Charge for year

119,506

Eliminated on disposal

(66,560

)

At 28 February 2025

517,804

NET BOOK VALUE

At 28 February 2025

1,043,634

At 29 February 2024

851,810

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 March 2024

and 28 February 2025

76,379

DEPRECIATION

At 1 March 2024

11,457

Charge for year

9,739

At 28 February 2025

21,196

NET BOOK VALUE

At 28 February 2025

55,183

At 29 February 2024

64,922

7.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Other loans

74,130

151,225

Hire purchase contracts

57,285

72,561

131,415

223,786

The hire purchase agreement is secured on the asset to which it relates.

The other loans are secured in part by a personal guarantee provided by the company's directors and the balance is a government secured CBILS loan.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25

29.2.24

£

£

J D Knight

Balance outstanding at start of year

12,482

(10,209

)

Amounts repaid

(172,000

)

(80,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(26,210

)

12,482

M J Hodge

Balance outstanding at start of year

3,757

(21,855

)

Amounts repaid

(172,000

)

(80,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(30,063

)

3,757