Q Investments Limited - Accounts to registrar (filleted) - small 18.2
Q Investments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2021 |
| FOR |
| Q INVESTMENTS LIMITED |
| Q INVESTMENTS LIMITED (REGISTERED NUMBER: 05219346) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| Q INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 123 Wellington Road South |
| Stockport |
| Cheshire |
| SK1 3TH |
| Q INVESTMENTS LIMITED (REGISTERED NUMBER: 05219346) |
| BALANCE SHEET |
| 31 AUGUST 2021 |
| 31/8/21 | 31/8/20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Q INVESTMENTS LIMITED (REGISTERED NUMBER: 05219346) |
| BALANCE SHEET - continued |
| 31 AUGUST 2021 |
| 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. |
| 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 |
| Q INVESTMENTS LIMITED (REGISTERED NUMBER: 05219346) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2021 |
| 1. | STATUTORY INFORMATION |
| Q Investments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its consolidated financial statements. |
| Significant judgements and estimates |
| In preparation of the financial statements management do not believe there to be any significant judgements and estimates. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value 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. |
| Rents receivable |
| Rents receivable are recognised in the profit and loss account in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Q INVESTMENTS LIMITED (REGISTERED NUMBER: 05219346) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2021 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2020 |
| Revaluations | 240,000 |
| At 31 August 2021 |
| NET BOOK VALUE |
| At 31 August 2021 |
| At 31 August 2020 |
| Fair value at 31 August 2021 is represented by: |
| £ |
| Valuation in 2008 | 447,792 |
| Valuation in 2013 | 1,095,000 |
| Valuation in 2014 | 1,795,413 |
| Valuation in 2015 | 625,000 |
| Valuation in 2016 | 413,290 |
| Valuation in 2017 | (74,674 | ) |
| Valuation in 2018 | (95,000 | ) |
| Valuation in 2019 | 308,750 |
| Valuation in 2020 | 225,000 |
| Valuation in 2021 | 240,000 |
| Cost | 6,484,429 |
| 11,465,000 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 31/8/21 | 31/8/20 |
| £ | £ |
| Cost | 6,484,429 | 6,484,429 |
| Investment properties were valued on an open market basis on 31 August 2021 by the directors . |
| In the opinion of the directors, the open market value of the investment properties held at the year end is in line with the values as disclosed in the accounts. |
| 5. | DEBTORS |
| 31/8/21 | 31/8/20 |
| £ | £ |
| Amounts falling due within one year: |
| Amounts owed by group undertakings |
| Other debtors |
| Q INVESTMENTS LIMITED (REGISTERED NUMBER: 05219346) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2021 |
| 5. | DEBTORS - continued |
| 31/8/21 | 31/8/20 |
| £ | £ |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/21 | 31/8/20 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/8/21 | 31/8/20 |
| £ | £ |
| Bank loans |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/8/21 | 31/8/20 |
| £ | £ |
| Bank loans |
| The bank loans are secured against the properties of the company by way of fixed and floating charge(s). The company has loans with Secure Trust Bank PLC of £6,354,509 (2020: £6,457,653). The loans are redeemable on sale of the properties. |
| 9. | PROVISIONS FOR LIABILITIES |
| 31/8/21 | 31/8/20 |
| £ | £ |
| Deferred tax | 725,389 | 679,789 |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2020 |
| Charge to Income Statement during year |
| Balance at 31 August 2021 |
| Q INVESTMENTS LIMITED (REGISTERED NUMBER: 05219346) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2021 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/8/21 | 31/8/20 |
| value: | £ | £ |
| Ordinary | £1 | 600,100 | 600,100 |
| 11. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 September 2020 |
| Reserves transfer | 194,400 |
| At 31 August 2021 |