Company Registration No. 4385964 (England and Wales)
3Q Industrial Supplies Limited
Unaudited accounts
for the year ended 31 May 2021
3Q Industrial Supplies Limited
Unaudited accounts
Contents
3Q Industrial Supplies Limited
Company Information
for the year ended 31 May 2021
Directors
Gavin Lee Munson
Peter Charles Rose
Company Number
4385964 (England and Wales)
Registered Office
Unit D Venture Business Park
Gilbey Road
Grimsby
North East Lincolnshire
DN31 2UW
United Kingdom
Accountants
D H Tuck & Co Limited
Fiveways Business Centre
167 Park Street
Cleethorpes
North East Lincolnshire
DN35 7LX
3Q Industrial Supplies Limited
Statement of financial position
as at
31 May 2021
Tangible assets
439,356
523,810
Inventories
175,000
220,000
Cash at bank and in hand
1,972,480
1,525,182
Creditors: amounts falling due within one year
(1,089,767)
(654,867)
Net current assets
1,751,032
1,515,240
Total assets less current liabilities
2,190,388
2,039,050
Provisions for liabilities
Deferred tax
(83,478)
(21,839)
Net assets
2,106,910
2,017,211
Called up share capital
100
100
Profit and loss account
2,106,810
2,017,111
Shareholders' funds
2,106,910
2,017,211
For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 July 2021 and were signed on its behalf by
Gavin Lee Munson
Director
Company Registration No. 4385964
3Q Industrial Supplies Limited
Notes to the Accounts
for the year ended 31 May 2021
3Q Industrial Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 4385964. The registered office is Unit D Venture Business Park, Gilbey Road, Grimsby, North East Lincolnshire, DN31 2UW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2020
414,616
350,418
44,028
809,062
Additions
-
228,616
-
228,616
Disposals
(228,616)
(65,514)
-
(294,130)
At 31 May 2021
186,000
513,520
44,028
743,548
At 1 June 2020
-
259,679
25,573
285,252
Charge for the year
-
79,840
4,614
84,454
On disposals
-
(65,514)
-
(65,514)
At 31 May 2021
-
274,005
30,187
304,192
At 31 May 2021
186,000
239,515
13,841
439,356
At 31 May 2020
414,616
90,739
18,455
523,810
3Q Industrial Supplies Limited
Notes to the Accounts
for the year ended 31 May 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
652,319
373,925
Other debtors
41,000
51,000
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
651,454
309,832
Taxes and social security
79,865
52,936
Other creditors
5,500
5,000
Loans from directors
234,916
221,221
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Average number of employees
During the year the average number of employees was 28 (2020: 25).