Quilco Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06404909

Quilco Limited

Filleted Unaudited Financial Statements

31 January 2025

Quilco Limited

Financial Statements

Year ended 31 January 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Quilco Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		767		1,023

Current assets

Debtors	7	5,310	7,776
Cash at bank and in hand		8,355	7,096
		--------	--------
		13,665	14,872

Creditors: amounts falling due within one year	8	53,005		52,914
		--------		--------
Net current liabilities			39,340		38,042
			--------		--------
Total assets less current liabilities			( 38,573)		( 37,019)
			--------		--------
Net liabilities			( 38,573)		( 37,019)
			--------		--------

Capital and reserves

Called up share capital	9	10,000	10,000
Profit and loss account		( 48,573)	( 47,019)
		--------	--------
Shareholders deficit		( 38,573)	( 37,019)
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Quilco Limited

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 13 January 2026 , and are signed on behalf of the board by:

C H Bailey
Director

Company registration number: 06404909

Quilco Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on a going concern basis which is dependent upon the continued financial support from the director. The company has received assurances that this financial support will not be withdrawn in the foreseeable future unless alternative funding is made available, and on this basis the director considers it appropriate to prepare financial statements on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Book rights	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	25% reducing balance

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Intangible assets

	Book rights
	£
Cost
At 1 February 2024 and 31 January 2025	2,000
	-------
Amortisation
At 1 February 2024 and 31 January 2025	2,000
	-------
Carrying amount
At 31 January 2025	–
	-------
At 31 January 2024	–
	-------

6. Tangible assets

	Office equipment	Total
	£	£
Cost
At 1 February 2024 and 31 January 2025	3,564	3,564
	-------	-------
Depreciation
At 1 February 2024	2,541	2,541
Charge for the year	256	256
	-------	-------
At 31 January 2025	2,797	2,797
	-------	-------
Carrying amount
At 31 January 2025	767	767
	-------	-------
At 31 January 2024	1,023	1,023
	-------	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	1,000	1,000
Other debtors	4,310	6,776
	-------	-------
	5,310	7,776
	-------	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	201	200
Accruals and deferred income	1,890	1,800
Social security and other taxes	1,005	1,005
Director loan accounts	49,909	49,909
	--------	--------
	53,005	52,914
	--------	--------

9. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
A Ordinary shares of £ 1 each	25,000	25,000	25,000	25,000
B Ordinary shares of £ 1 each	25,000	25,000	25,000	25,000
	--------	--------	--------	--------
	50,000	50,000	50,000	50,000
	--------	--------	--------	--------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
A Ordinary shares of £ 1 each	5,000	5,000	5,000	5,000
B Ordinary shares of £ 1 each	5,000	5,000	5,000	5,000
	--------	--------	--------	--------
	10,000	10,000	10,000	10,000
	--------	--------	--------	--------

10. Related party transactions

At the end of the period the company owed Mr C H Bailey £49,909 (2024: £49,909) by way of a directors loan account, which is shown amongst creditors falling due within one year.