Quadrabuild Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05565876 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2020

for

Quadrabuild Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Hall

R Hall

A M Hall

SECRETARY:

D Hall

REGISTERED OFFICE:

Unit 1 Falkland Farm

Andover Road

Wash Water

Newbury

Berkshire

RG20 0LP

REGISTERED NUMBER:

05565876 (England and Wales)

ACCOUNTANTS:

Morley & Co (UK) Ltd

Chartered Certified Accountants,

2 Cricklade Court

Old Town

Swindon

Wiltshire

SN1 3EY

FIXED ASSETS

Tangible assets

4

27,212

35,050

CURRENT ASSETS

Stocks

5

63,882

80,622

Debtors

6

115,659

71,108

Cash at bank

168,857

49,473

348,398

201,203

CREDITORS

Amounts falling due within one year

7

208,869

105,255

NET CURRENT ASSETS

139,529

95,948

TOTAL ASSETS LESS CURRENT LIABILITIES

166,741

130,998

CREDITORS

Amounts falling due after more than one year

8

100,000

-

NET ASSETS

66,741

130,998

CAPITAL AND RESERVES

Called up share capital

720

808

Capital redemption reserve

272

184

Retained earnings

65,749

130,006

SHAREHOLDERS' FUNDS

66,741

130,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2021 and were signed on its behalf by:

D Hall - Director

R Hall - Director

1.	STATUTORY INFORMATION

Quadrabuild Ltd 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

10% on cost

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

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 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2019 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2019

68,030

42,483

127,813

238,326

Disposals

-

-

(13,500

)

(13,500

)

At 30 September 2020

68,030

42,483

114,313

224,826

DEPRECIATION

At 1 October 2019

34,015

41,448

127,813

203,276

Charge for year

6,803

1,035

-

7,838

Eliminated on disposal

-

-

(13,500

)

(13,500

)

At 30 September 2020

40,818

42,483

114,313

197,614

NET BOOK VALUE

At 30 September 2020

27,212

-

-

27,212

At 30 September 2019

34,015

1,035

-

35,050

5.

STOCKS

2020

2019

£

£

Stocks

63,882

80,622

6.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

77,235

35,452

Other debtors

-

500

77,235

35,952

2020

2019

£

£

Amounts falling due after more than one year:

Deferred tax asset

38,424

35,156

Aggregate amounts

115,659

71,108

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

44,986

28,783

Social security and other taxes

5,954

8,226

VAT

36,457

13,493

Other creditors

-

180

Directors' current accounts

119,172

52,348

Accrued expenses

2,300

2,225

208,869

105,255

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Business interruption support loan

100,000

-

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the director, David Hall, was owed £119,172 by the company (2019: £52,348). This amount is loaned interest free and is repayable on demand.

10.	GOING CONCERN

As with all businesses, it is difficult to fully predict the effect that COVID-19 will have on the company in the next 12 months, but based on the information available, the directors believe that the company is well placed to manage its financing and other business risks satisfactorily and have a reasonable expectation that the company will have adequate resources to continue in operation for at least 12 months from the signing date of these financial statements. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.