Quills Office Solutions Group Limited - Period Ending 2022-07-31

Quills Office Solutions Group Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Unaudited Financial Statements	3 to 8

Quills Office Solutions Group Limited

Company Information

Directors

A Efstathiou Mr Adam Michael Benbow Mr Thomas Charles Davinson

Registered office

Salatin House 19 Cedar Road Sutton Surrey SM2 5DA

Accountants

Harmer Slater Limited Salatin House 19 Cedar Road Sutton Surrey SM2 5DA

Quills Office Solutions Group Limited

(Registration number: 09328436)
Statement of Financial Position as at 31 July 2022

	Note	2022 £	2021 £
Non-current assets
Investments	4	308	100
Current assets
Receivables	5	16,000	-
Payables: Amounts falling due within one year	6	(124)	(22)
Net current assets/(liabilities)		15,876	(22)
Net assets		16,184	78
Equity
Called up share capital	7	234	78
Retained earnings		15,950	-
Shareholders' funds		16,184	78

For the financial period ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been 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 Income statement.

The financial statements of Quills Office Solutions Group Limited were approved and authorised for issue by the Board on 20 September 2023 and signed on its behalf by:
 

.........................................

A Efstathiou
Director

Quills Office Solutions Group Limited

Notes to the Unaudited Financial Statements
for the Period from 1 December 2021 to 31 July 2022

1	General information

Quills Office Solutions Group Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2	Accounting policies

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Group accounts not prepared

The company is exempt from preparing group accounts under Section 399(2) of the Companies Act 2006 on the grounds that it is subject to the small companies regime..

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Quills Office Solutions Group Limited

Notes to the Unaudited Financial Statements
for the Period from 1 December 2021 to 31 July 2022 (continued)

2	Accounting policies (continued)

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Receivables

Receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Quills Office Solutions Group Limited

Notes to the Unaudited Financial Statements
for the Period from 1 December 2021 to 31 July 2022 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2021 - 0).

4	Investments

	2022 £	2021 £
Investments in subsidiaries	256	-
Investments in joint ventures	52	100
	308	100

Subsidiaries	£
Cost or valuation
Additions	256
Provision
Carrying amount
At 31 July 2022	256

Joint ventures	£
Cost
At 1 December 2021	100
Additions	2
Disposals	(50)
At 31 July 2022	52
Provision
Carrying amount
At 31 July 2022	52
At 30 November 2021	100

Quills Office Solutions Group Limited

Notes to the Unaudited Financial Statements
for the Period from 1 December 2021 to 31 July 2022 (continued)

4	Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2022	2021
Subsidiary undertakings
Quills Office Supplies Limited	Salatin House, 19 Cedar Road, Sutton, Surrey SM2 5DA England and Wales	Ordinary A,B and C shares of £1 each	100%	0%
Quills Document Management Limited	Salatin House, 19 Cedar Road, Sutton, Surrey SM2 5DA England and Wales	Ordinary shares of £1 each	100%	0%
Joint ventures
Safer Shared Spaces Limited	Salatin House, 19 Cedar Road, Sutton, Surrey SM2 5DA	Ordinary shares of £1	50%	50%
	England and Wales
Quills-Limpio MPS Limited	Salatin House, 19 Cedar Road, Sutton, Surrey SM2 5DA	Ordinary shares of £1 each	50%	0%
	England and Wales
Quills FM Limited	Salatin House, 19 Cedar Road, Sutton, Surrey SM2 5DA	Ordinary shares of £1 each	50%	0%
	England and Wales

Quills Office Solutions Group Limited

Notes to the Unaudited Financial Statements
for the Period from 1 December 2021 to 31 July 2022 (continued)

4	Investments (continued)

Subsidiary undertakings

Quills Office Supplies Limited The principal activity of Quills Office Supplies Limited is Sale of office supplies.

Quills Document Management Limited The principal activity of Quills Document Management Limited is Dormant. Its financial period end is 31 March.

Joint ventures

Safer Shared Spaces Limited The principal activity of Safer Shared Spaces Limited is specialised cleaning services.

Quills-Limpio MPS Limited The principal activity of Quills-Limpio MPS Limited is servicing and sale of office equipment. Its financial period end is 31 March.

Quills FM Limited The principal activity of Quills FM Limited is facilities management.

5	Receivables

	2022 £	2021 £
Other receivables	16,000	-
	16,000	-

Quills Office Solutions Group Limited

Notes to the Unaudited Financial Statements
for the Period from 1 December 2021 to 31 July 2022 (continued)

6

Payables

Payables: amounts falling due within one year

	2022 £	2021 £
Due within one year
Other payables	124	22

7	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary shares of £1 each	-	-	78	78
Ordinary A shares of £1 (2021 - £0) each	128	128	-	-
Ordinary B shares of £1 (2021 - £0) each	78	78	-	-
Ordinary C shares of £1 (2021 - £0) each	28	28	-	-
	234	234	78	78

The Ordinary A, B and C shares rank pari passu except that the director may at any time resolve to declare a dividend on one or other class of shares and not on one or other class.