Quin-Essence Limited

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 6

Quin-Essence Limited

(Registration number: 05183982)
Statement of financial position as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	229	306
Current assets
Debtors	6	70,302	48,350
Cash at bank and in hand		74,026	72,306
		144,328	120,656
Creditors: Amounts falling due within one year	7	(91,226)	(83,536)
Net current assets		53,102	37,120
Total assets less current liabilities		53,331	37,426
Provisions for liabilities		(44)	(58)
Net assets		53,287	37,368
Capital and reserves
Called up share capital	8	21,840	21,840
Share premium reserve		7,160	7,160
Retained earnings		24,287	8,368
Shareholders' funds		53,287	37,368

For the financial year ending 31 July 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 her 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 27 April 2026
 

......................................... Mrs N J Ferguson Director

Quin-Essence Limited

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

1	General information

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

The address of its registered office is:
41 Fourth Avenue
Garston
Watford
Herts
WD25 9QB
United Kingdom

These financial statements were authorised for issue by the director on 27 April 2026.

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.

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 sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Quin-Essence Limited

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

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
Plant & machinery	33% straight line
Furniture & fittings	20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Quin-Essence Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 - 5).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 August 2024	5,000	5,000
At 31 July 2025	5,000	5,000
Amortisation
At 1 August 2024	5,000	5,000
At 31 July 2025	5,000	5,000
Carrying amount
At 31 July 2025	-	-

Quin-Essence Limited

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

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 August 2024	41,023	41,023
At 31 July 2025	41,023	41,023
Depreciation
At 1 August 2024	40,717	40,717
Charge for the year	77	77
At 31 July 2025	40,794	40,794
Carrying amount
At 31 July 2025	229	229
At 31 July 2024	306	306

6

Debtors

Current	2025 £	2024 £
Trade debtors	26,418	41,327
Prepayments	6,553	7,023
Other debtors	37,331	-
	70,302	48,350

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	7,619	8,565
Taxation and social security	30,007	23,097
Other creditors	53,600	51,874
	91,226	83,536

Quin-Essence Limited

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

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	21,840	21,840	21,840	21,840

9	Related party transactions

Transactions with the director

2025	At 1 August 2024 £	Advances to director £	At 31 July 2025 £
Mrs N J Ferguson
Director's loan	-	37,281	37,281

Director loan detail

Director's loans are provided at an interest rate in line with HMRC beneficial loan relationship rules (3.75% at the balance sheet date) and are repayable on demand.