Quill International Chemicals Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04084959 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2024 TO 30 DECEMBER 2024

FOR

QUILL INTERNATIONAL CHEMICALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

Mr N Dore

Registered office:

Unit 9

Castle Lane

Melbourne

Derbyshire

DE73 8JB

Registered number:

04084959 (England and Wales)

Accountants:

TC Group

10 Stadium Business Court

Millennium Way

Pride Park

Derby

DE24 8HP

Fixed assets

Intangible assets

4

-

Tangible assets

5

233,532

257,916

233,532

257,916

Current assets

Stocks

180,937

210,000

Debtors

6

860,308

608,705

Cash at bank and in hand

31,300

177,357

1,072,545

996,062

Creditors

Amounts falling due within one year

7

(660,474

)

(564,777

)

Net current assets

412,071

431,285

Total assets less current liabilities

645,603

689,201

Creditors

Amounts falling due after more than one
year

8

(930

)

(54,983

)

Provisions for liabilities

11

(40,673

)

(45,415

)

Net assets

604,000

588,803

Capital and reserves

Called up share capital

12

100

Retained earnings

603,900

588,703

Shareholders' funds

604,000

588,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

Mr N Dore - Director

1.	STATUTORY INFORMATION

Quill International Chemicals 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

The goodwill arose upon the purchase of certain trade and assets of Quill International Group Limited. The goodwill is to be written off on a straight line basis over 10 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

-

20% on cost

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on cost

Equipment

-

33% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 16 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 January 2024

and 30 December 2024

30,728

Amortisation

At 1 January 2024

and 30 December 2024

30,728

Net book value

At 30 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Equipment

Totals

£

Cost

At 1 January 2024

658,206

63,723

92,504

10,151

824,584

Additions

33,292

624

78,263

-

112,179

Disposals

-

(17,427

)

-

(17,427

)

At 30 December 2024

691,498

64,347

153,340

10,151

919,336

Depreciation

At 1 January 2024

451,084

36,376

72,236

6,972

566,668

Charge for period

95,001

9,230

27,278

1,060

132,569

Eliminated on disposal

-

(13,433

)

-

(13,433

)

At 30 December 2024

546,085

45,606

86,081

8,032

685,804

Net book value

At 30 December 2024

145,413

18,741

67,259

2,119

233,532

At 31 December 2023

207,122

27,347

20,268

3,179

257,916

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

Plant and

Motor

machinery

vehicles

Totals

£

Cost

At 1 January 2024

and 30 December 2024

41,873

47,120

88,993

Depreciation

At 1 January 2024

41,873

30,846

72,719

Charge for period

-

7,712

At 30 December 2024

41,873

38,558

80,431

Net book value

At 30 December 2024

-

8,562

At 31 December 2023

-

16,274

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

751,048

483,496

Other debtors

14,150

11,656

Inter-company balances

10,493

-

Directors' current accounts

44,259

38,724

Tax

-

11,832

VAT

8,893

24,298

Prepayments and accrued income

31,465

38,699

860,308

608,705

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans

83,135

-

Hire purchase contracts (see note 9)

54,053

50,178

Trade creditors

115,921

214,270

Corporation tax

28,309

-

Social security and other taxes

16,663

11,409

Other creditors

32,012

1,566

Inter-company balances

81,012

38,002

Accruals and deferred income

249,369

249,352

660,474

564,777

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Hire purchase contracts (see note 9)

930

54,983

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

Net obligations repayable:

Within one year

54,053

50,178

Between one and five years

930

54,983

105,161

Non-cancellable

operating leases

2024

2023

£

Within one year

2,072

4,144

Between one and five years

-

2,072

6,216

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Hire purchase

54,983

105,161

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

40,673

45,415

Deferred tax

£

Balance at 1 January 2024

45,415

Provided during period

(4,742

)

Balance at 30 December 2024

40,673

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 December 2024 and the year ended 31 December 2023:

2024

2023

£

Mr N Dore

Balance outstanding at start of period

38,723

44,412

Amounts advanced

59,761

70,868

Amounts repaid

(54,225

)

(76,557

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

44,259

38,723

It is company policy to charge interest on all overdrawn loan accounts at HMRC official rate of interest. The amount owed at the year end in respect of the above loans was £1,720 (2023: £1,584) and is included in other debtors.

14.	RELATED PARTY DISCLOSURES

The company was under the control of Mr N Dore throughout the current and previous year. Mr N Dore is the managing director and majority shareholder.

The following transactions took place with Quill International Group Limited, a related party by virtue of the managing director and majority shareholder being a close family member of Mr N Dore.

2024

2023

£

Sales to Quill International Group Limited

2,782

7,564

Purchases from and management charges payable to

Quill International Group Limited

359,009

29,392

Debtor balance

251

666

Creditor balance

6,987

101,392

Intercompany balance

81,012

(38,002

)

The intercompany balance includes management charges of £66,000 that were accrued at the year end.

The following transactions took place with The Collated Nail Company Limited, a related party by virtue of the managing director and majority shareholder being a close family member of Mr N Dore.

2024

2023

£

Sales to Collated Nail Company Limited

-

Purchases from Collated Nail Company Limited

-

326

Debtor Balance

-

Creditors Balance

-

Amounts written off during the year

-

1,014

Intercompany balance

-

The following transactions took place with Quill Design & Engineering Ltd, a related party by virtue of the managing director and majority shareholder being a close family member of Mr N Dore.

2024

2023

£

Sales to Quill Design & Engineering Ltd

-

Purchases from Quill Design & Engineering Ltd

-

Debtor Balance

-

Creditors Balance

-

Intercompany balance

10,493

-

The intercompany balance includes management charges of £6,000 that were accrued at the year end.