Queensgate Bracknell Ltd - Accounts to registrar (filleted) - small 18.2

Queensgate Bracknell Ltd - Accounts to registrar (filleted) - small 18.2

QUEENSGATE BRACKNELL LTD - Company Information

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REGISTERED NUMBER: 10481318 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2017 TO 31 DECEMBER 2018

FOR

QUEENSGATE BRACKNELL LTD
QUEENSGATE BRACKNELL LTD (REGISTERED NUMBER: 10481318)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2017 TO 31 DECEMBER 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


QUEENSGATE BRACKNELL LTD

COMPANY INFORMATION
FOR THE PERIOD 1 DECEMBER 2017 TO 31 DECEMBER 2018







DIRECTORS: A J Simpson
P Hamilton





REGISTERED OFFICE: 2-4 Packhorse Road
Gerrards Cross
Buckinghamshire
SL9 7QE





REGISTERED NUMBER: 10481318 (England and Wales)





ACCOUNTANTS: Nunn Hayward LLP
Chartered Accountants
2-4 Packhorse Road
Gerrards Cross
Buckinghamshire
SL9 7QE
1
QUEENSGATE BRACKNELL LTD (REGISTERED NUMBER: 10481318)

BALANCE SHEET
31 DECEMBER 2018

2018 2017
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 164,753 232,074
Investment property 5 1,628,456 1,628,456
1,793,209 1,860,530

CURRENT ASSETS
Debtors 6 67,331 105,109
Cash at bank 17,036 15,004
84,367 120,113
CREDITORS
Amounts falling due within one year 7 27,965 1,300,844
NET CURRENT ASSETS/(LIABILITIES) 56,402 (1,180,731 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,849,611
679,799

CREDITORS
Amounts falling due after more than one
year
8
2,121,818
907,047
NET LIABILITIES (272,207 ) (227,248 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (272,507 ) (227,548 )
(272,207 ) (227,248 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2018 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 on 30 September 2019 and were signed on its behalf
by:





P Hamilton - Director


The notes form part of these financial statements

2
QUEENSGATE BRACKNELL LTD (REGISTERED NUMBER: 10481318)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2017 TO 31 DECEMBER 2018


1. STATUTORY INFORMATION

Queensgate Bracknell 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The directors decided to change the company's reporting period for administrative convenience. The annual
financial statements are presented for a period of 13 months and the comparative amounts are not entirely
comparable.

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.
Improvements to property - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is included at fair value. Gains/losses on revaluation are recognised in the income
statement within other operating gains/losses. Deferred taxation is provided for on these revaluation gains/losses
at the rate expected to apply when the property is sold.

Taxation
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2017 - NIL).

3 continued...
QUEENSGATE BRACKNELL LTD (REGISTERED NUMBER: 10481318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2017 TO 31 DECEMBER 2018


4. TANGIBLE FIXED ASSETS
Fixtures
Improvements and
to property fittings Totals
£ £ £
COST
At 1 December 2017 292,894 16,538 309,432
Disposals - (16,538 ) (16,538 )
At 31 December 2018 292,894 - 292,894
DEPRECIATION
At 1 December 2017 73,223 4,135 77,358
Charge for period 54,918 - 54,918
Eliminated on disposal - (4,135 ) (4,135 )
At 31 December 2018 128,141 - 128,141
NET BOOK VALUE
At 31 December 2018 164,753 - 164,753
At 30 November 2017 219,671 12,403 232,074

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 December 2017
and 31 December 2018 1,628,456
NET BOOK VALUE
At 31 December 2018 1,628,456
At 30 November 2017 1,628,456

There has been no movement in the value of the investment property in the year to 31 December 2018.

REGISTERED CHARGES

There were 2 registered charges in the year. On 8 March 2017 the company entered into a legal charge on the
freehold property known as Queensgate House with HSBC Bank Plc. On 10 March 2017 the company entered
into a legal fixed and floating charge over all assets with HSBC Bank Plc.

Both charges were satisfied in full on 7 March 2018.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£ £
Other debtors 67,331 105,109

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£ £
Bank loans and overdrafts - 56,144
Trade creditors 19,100 28,662
Amounts owed to associates - 1,214,188
Taxation and social security 5,865 -
Other creditors 3,000 1,850
27,965 1,300,844

4 continued...
QUEENSGATE BRACKNELL LTD (REGISTERED NUMBER: 10481318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2017 TO 31 DECEMBER 2018


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£ £
Bank loans - 907,047
Other creditors 2,121,818 -
2,121,818 907,047

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 668,196

5