Quinton Poulton Management Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03357649 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

FOR

QUINTON POULTON MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Goad

Q M Poulton

SECRETARY:

Q M Poulton

REGISTERED OFFICE:

8 Lansdowne Gardens

Hellingly Hailsham

East Sussex

BN27 1LQ

REGISTERED NUMBER:

03357649 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Riverside House

40-46 High Street

Maidstone

Kent

ME14 1JH

FIXED ASSETS

Tangible assets

4

1,302

1,854

CURRENT ASSETS

Debtors

5

85,306

75,549

Cash at bank

5,250

8,092

90,556

83,641

CREDITORS

Amounts falling due within one year

6

16,689

11,738

NET CURRENT ASSETS

73,867

71,903

TOTAL ASSETS LESS CURRENT LIABILITIES

75,169

73,757

CREDITORS

Amounts falling due after more than one year

7

(8,302

)

(10,282

)

PROVISIONS FOR LIABILITIES

(239

)

(265

)

NET ASSETS

66,628

63,210

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

66,627

63,209

SHAREHOLDERS' FUNDS

66,628

63,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 24 January 2023 and were signed on its behalf by:

Q M Poulton - Director

1.	STATUTORY INFORMATION

Quinton Poulton Management 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.

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.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on cost

Government grants

Grants relate to amounts received under the Government's Coronavirus Job Retention Scheme and the Coronavirus Bounce Back Loan scheme. Grants are accounted for on an accruals basis and recognised in the Statement of Comprehensive Income as other income.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

Financial reporting standard frs 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these

financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in

the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and

26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves, cash balances and no significant long term liabilities.

Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 May 2021

and 30 April 2022

14,542

769

15,311

DEPRECIATION

At 1 May 2021

13,105

352

13,457

Charge for year

359

193

552

At 30 April 2022

13,464

545

14,009

NET BOOK VALUE

At 30 April 2022

1,078

224

1,302

At 30 April 2021

1,437

417

1,854

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

-

19,296

Other debtors

85,306

56,253

85,306

75,549

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

2,422

2,218

Trade creditors

1,404

1,350

Taxation and social security

1,301

1,411

Other creditors

11,562

6,759

16,689

11,738

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

8,302

10,282

During the prior year, the company obtained a £12,500 Bounce Back loan as part of the Covid-19 Government support to businesses during the pandemic. Interest is payable on the loan at 2.5% per annum over 6 years. The interest payable for the first 12 months is paid by the Government. The loan is due to be repaid in 60 monthly instalments commencing 12 months from the drawdown date. The loan is secured by a Government backed guarantee.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

1

Ordinary shares

£1

1

1

9.

RESERVES

Retained

earnings

£

At 1 May 2021

63,209

Profit for the year

3,418

At 30 April 2022

66,627

10.	RELATED PARTY DISCLOSURES

During the year, the company owed £7,776 to director Q Poulton (2021: £3,272). The loan is interest free, repayable upon demand and included within other creditors.

Additionally, the company owed £2,215 (2021: £2,059) to director D Goad, included within other creditors.

At the year end date, the company was owed £7,799 (2021: £7,443) from a daughter of one of the directors. This has been included within other debtors.

At the year end date, the company was also owed £50,621 by East Sussex Foods Limited, a company under the control of the directors of Quinton Poulton Management Limited (2021: £42,470), included within other debtors.

During the period, donations were made to South Down Support, a charity of which a director is chairman, of £1,020 (2021: £nil).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Q M Poulton.