JBG Quinn & Sons Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

JBG Quinn & Sons Limited

(Registration number: 09497496)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	8,764,022	4,502,489
Current assets
Debtors	5	4,511,943	4,474,953
Cash at bank and in hand		82,774	122,483
		4,594,717	4,597,436
Creditors: Amounts falling due within one year	6	(1,342,544)	(1,339,828)
Net current assets		3,252,173	3,257,608
Total assets less current liabilities		12,016,195	7,760,097
Creditors: Amounts falling due after more than one year	6	(3,744,981)	-
Provisions for liabilities		(763,185)	(700,492)
Net assets		7,508,029	7,059,605
Capital and reserves
Called up share capital		1	1
Profit and loss account		7,508,028	7,059,604
Shareholders' funds		7,508,029	7,059,605

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 22 December 2025
 

Mr M Quinn Director

JBG Quinn & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kernick Farm Otterham Station
Camelford
Cornwall
PL32 9SZ

Principal activity

The principal activity of the company is that of organic recycling.

2	Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements are prepared in sterling which is the functional currency of the entity.

JBG Quinn & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	No depreciation
Buildings	No depreciation

JBG Quinn & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Plant and machinery	20% reducing balance
Computer equipment	25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

JBG Quinn & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

	Freehold land and buildings £	Buildings £	Computers £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	1,020,304	2,538,293	6,376	2,443,096	6,008,069
Additions	4,186,329	261,816	-	66,605	4,514,750
At 31 March 2025	5,206,633	2,800,109	6,376	2,509,701	10,522,819
Depreciation
At 1 April 2024	-	-	2,940	1,502,640	1,505,580
Charge for the year	-	-	1,452	251,765	253,217
At 31 March 2025	-	-	4,392	1,754,405	1,758,797
Carrying amount
At 31 March 2025	5,206,633	2,800,109	1,984	755,296	8,764,022
At 31 March 2024	1,020,304	2,538,293	3,436	940,456	4,502,489

Included within the net book value of land and buildings above is £5,206,633 (2024 - £1,020,304) in respect of freehold land and buildings and £2,800,109 (2024 - £2,538,293) in respect of long leasehold land and buildings.
 

5

Debtors

	Note	2025 £	2024 £
Trade debtors		721,258	962,239
Amounts owed by related parties		3,535,781	3,505,781
Prepayments		9,525	6,933
Income tax asset		245,379	-
		4,511,943	4,474,953

JBG Quinn & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		122,337	206,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest		315,332	48,043
Taxation and social security		21,937	190,165
Accruals and deferred income		6,000	7,760
Other creditors		876,938	887,860
		1,342,544	1,339,828

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Other financial liabilities	3,744,981	-

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.