QED Capital Assets Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02150153 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

QED CAPITAL ASSETS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Nicholson

C J Gilbert

R A Gilbert

J S Gilbert

SECRETARY:

R A Gilbert

REGISTERED OFFICE:

1 Cedar Chase

Findon

Worthing

West Sussex

BN14 0US

REGISTERED NUMBER:

02150153 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

FIXED ASSETS

Tangible assets

4

30,306

58,525

Investments

5

5,000

5,000

Investment property

6

7,192,050

7,352,050

7,227,356

7,415,575

CURRENT ASSETS

Debtors

7

570,720

578,089

Cash at bank

63,153

90,202

633,873

668,291

CREDITORS

Amounts falling due within one year

8

1,917,713

2,069,716

NET CURRENT LIABILITIES

(1,283,840

)

(1,401,425

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,943,516

6,014,150

PROVISIONS FOR LIABILITIES

9

591,000

662,000

NET ASSETS

5,352,516

5,352,150

CAPITAL AND RESERVES

Called up share capital

10

10

10

Retained earnings

5,352,506

5,352,140

SHAREHOLDERS' FUNDS

5,352,516

5,352,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 19 June 2020 and were signed on its behalf by:

M A Nicholson - Director

1.	STATUTORY INFORMATION

QED Capital Assets 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.

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 as modified by the revaluation of certain assets.

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue

to adopt the going concern basis of accounting in preparing the financial statements.

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

-

Depreciation over lease term

Computer equipment

-

33% on cost

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised

at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured

at fair value at the reporting end date. The surplus deficit on revaluation is recognised in profit or loss.

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.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Fixed asset investments

Interests in investments, which include community investments, are initially measured at cost and subsequently

measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each

reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit

or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 October 2018

280,838

10,269

291,107

Additions

-

1,457

1,457

At 30 September 2019

280,838

11,726

292,564

DEPRECIATION

At 1 October 2018

222,963

9,619

232,582

Charge for year

29,374

302

29,676

At 30 September 2019

252,337

9,921

262,258

NET BOOK VALUE

At 30 September 2019

28,501

1,805

30,306

At 30 September 2018

57,875

650

58,525

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 October 2018

and 30 September 2019

5,000

NET BOOK VALUE

At 30 September 2019

5,000

At 30 September 2018

5,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2018

7,352,050

Additions

36,553

Revaluations

(196,553

)

At 30 September 2019

7,192,050

NET BOOK VALUE

At 30 September 2019

7,192,050

At 30 September 2018

7,352,050

Fair value at 30 September 2019 is represented by:

£

Valuation in 2017

3,374,093

Valuation in 2018

689,423

Valuation in 2019

(196,553

)

Cost

3,325,087

7,192,050

If investment properties had not been revalued they would have been included at the following historical cost:

2019

2018

£

£

Cost

3,325,087

3,288,534

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 22 July

2019 by Stiles Harold Williams, Chartered Surveyors, who are not connected with the company. The valuation

was based on the open market value of freehold interests with the benefit of existing leases. The directors

consider the valuation to remain valid as at 30 September 2019.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

117,628

18,305

Amounts owed by participating interests

430,688

544,475

Other debtors

22,404

15,309

570,720

578,089

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

1,549,757

1,699,758

Trade creditors

131,936

145,256

Amounts owed to participating interests

27

-

Taxation and social security

78,790

59,597

Other creditors

157,203

165,105

1,917,713

2,069,716

The company has granted fixed and floating charges to secure the bank loans.

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

591,000

662,000

Deferred

tax

£

Balance at 1 October 2018

662,000

Credit to Income Statement during year

(71,000

)

Balance at 30 September 2019

591,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

10

Ordinary

£1

10

10

11.	RELATED PARTY DISCLOSURES

Amounts due to related parties

The following amounts were outstanding at the reporting end date:

Key management personnel 2019: £129,678 (2018: £124,558)

Amounts due from related parties

The following amounts were outstanding at the reporting end date:

Entities under common control 2019: £430,661 (2018: £544,475)