Quay Property Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04937869 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2020

FOR

QUAY PROPERTY INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Davies

A J A Hewitt

SECRETARY:

A J A Hewitt

REGISTERED OFFICE:

10 London Mews

London

W2 1HY

REGISTERED NUMBER:

04937869 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

London

W2 1HY

FIXED ASSETS

Tangible assets

4

96

128

CURRENT ASSETS

Debtors

5

173,516

150,242

Cash at bank

11,091

1,646

184,607

151,888

CREDITORS

Amounts falling due within one year

6

197,071

155,330

NET CURRENT LIABILITIES

(12,464

)

(3,442

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,368

)

(3,314

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(12,468

)

(3,414

)

SHAREHOLDERS' FUNDS

(12,368

)

(3,314

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 27 May 2021 and were signed on its behalf by:

A J A Hewitt - Director

1.	STATUTORY INFORMATION

Quay Property Investments 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.

Going concern

At the balance sheet date the company has a net deficit and is reliant on the continued support of its creditors. The directors have considered this position along with the impact of the Covid-19 pandemic on the business, and are satisfied the company has sufficient resources available to cover the company's requirements for working capital and capital expenditure for at least the next twelve months. The directors therefore consider the company a going concern and the accounts have been prepared on this basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over the term of the lease

Fixtures and fittings

-

25% reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors and other creditors.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost.

Revenue

Other operating income represents net rental income received or receivable, excluding value added tax. This is recognised based on rental invoices raised.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 June 2019

and 31 May 2020

1,500

5,621

7,121

DEPRECIATION

At 1 June 2019

1,500

5,493

6,993

Charge for year

-

32

32

At 31 May 2020

1,500

5,525

7,025

NET BOOK VALUE

At 31 May 2020

-

96

96

At 31 May 2019

-

128

128

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

141,607

118,025

Other debtors

31,909

32,217

173,516

150,242

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade creditors

81,178

84,025

Taxation and social security

9,595

2,757

Other creditors

106,298

68,548

197,071

155,330

7.	OTHER FINANCIAL COMMITMENTS

Operating lease commitments not included in the balance sheet amount to £77,500 (2019: £77,500).

8.	RELATED PARTY DISCLOSURES

As at 31st May 2020 the company owed the directors £93 (2019:£93). No interest is payable on the loan which is repayable on demand.