Q Developments 2 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10597521 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST SEPTEMBER 2019 TO 28TH FEBRUARY 2021

FOR

Q DEVELOPMENTS 2 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mr S P Quinn

Mr. M Randall

Mr J T D Thomas

Q Developments Ltd

REGISTERED OFFICE:

18 Molasses Row

Plantation Wharf

London

SW11 3UX

REGISTERED NUMBER:

10597521 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Investments

4

1,512,162

10

CURRENT ASSETS

Debtors

5

196,300

196,100

CREDITORS

Amounts falling due within one year

6

1,288,210

567,010

NET CURRENT LIABILITIES

(1,091,910

)

(370,910

)

TOTAL ASSETS LESS CURRENT LIABILITIES

420,252

(370,900

)

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

7

1,512,152

-

Retained earnings

(1,092,000

)

(371,000

)

SHAREHOLDERS' FUNDS

420,252

(370,900

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28th February 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 28th February 2021 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 14th May 2021 and were signed on its behalf by:

Mr S P Quinn - Director

1.	STATUTORY INFORMATION

Q Developments 2 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the total amount receivable by the company for goods supplied and services provided, excluding value added tax and trade discounts.

Turnover is recognised when it is probable that any future economic benefit associated with the amounts receivable will flow to the entity and the amount can be reliably measured.

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 5 (2019 - 5 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1st September 2019

10

Revaluations

1,512,152

At 28th February 2021

1,512,162

NET BOOK VALUE

At 28th February 2021

1,512,162

At 31st August 2019

10

Cost or valuation at 28th February 2021 is represented by:

Other

investments

£

Valuation in 2020

1,512,152

Cost

10

1,512,162

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2019

£

£

Amounts owed by group undertakings

196,000

196,000

Other debtors

300

100

196,300

196,100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2019

£

£

Amounts owed to group undertakings

197,200

196,000

Other creditors

1,091,010

371,010

1,288,210

567,010

7.

RESERVES

Fair

value

reserve

£

Reserve transfer

1,512,152

At 28th February 2021

1,512,152

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Q Developments Ltd.