Quarterdeck Realty Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08223650 (England and Wales)

Quarterdeck Realty Ltd

Unaudited Financial Statements

for the Year Ended 28 March 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A E McCarthy

REGISTERED OFFICE:

19 Windsor Place

Cardiff

CF10 3BY

REGISTERED NUMBER:

08223650 (England and Wales)

ACCOUNTANTS:

O'Brien and Partners

Accountants & Business Advisors

Highdale House

7 Centre Court

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

485,549

485,549

485,549

485,549

CURRENT ASSETS

Debtors

6

412,096

420,783

Cash at bank

2,744

1,523

414,840

422,306

CREDITORS

Amounts falling due within one year

7

536,336

547,036

NET CURRENT LIABILITIES

(121,496

)

(124,730

)

TOTAL ASSETS LESS CURRENT LIABILITIES

364,053

360,819

CREDITORS

Amounts falling due after more than one year

8

355,271

352,142

NET ASSETS

8,782

8,677

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

8,772

8,667

8,782

8,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 March 2023 and were signed by:

A E McCarthy - Director

1.	STATUTORY INFORMATION

Quarterdeck Realty 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 financial statements have been prepared on a going concern basis. The directors have considered the assets and liabilities of the company and are of the opinion that the company will continue to meet its liabilities as they fall due, with the financial support of the directors. The directors are satisfied that the company is a going concern.

Turnover

Turnover represents rental income earned by the company. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and taxes.

Rental income is recognised in line with the period for which it is due.

Tangible fixed assets

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

Computer equipment

-

25% on cost

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment properties are then reviewed annually to ensure that an accurate amount is carried for each property.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 29 March 2021

and 28 March 2022

3,069

DEPRECIATION

At 29 March 2021

and 28 March 2022

3,069

NET BOOK VALUE

At 28 March 2022

-

At 28 March 2021

-

5.	INVESTMENT PROPERTY

Total

£

COST

At 29 March 2021

and 28 March 2022

485,549

NET BOOK VALUE

At 28 March 2022

485,549

At 28 March 2021

485,549

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.3.22

28.3.21

£

£

Trade debtors

-

155

Other debtors

412,096

420,628

412,096

420,783

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.3.22

28.3.21

£

£

Trade creditors

101

-

Other creditors

536,235

547,036

536,336

547,036

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.3.22

28.3.21

£

£

Bank loans

355,271

352,142

28.3.22

28.3.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

355,271

352,142

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.3.22

28.3.21

£

£

Bank loans

355,271

352,142

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £107,653 (2021: £116,764) by companies under common control. No interest is charged on these amounts.

At the balance sheet date the company was owed £303,354 (2021: £303,354) by companies with a common Director.

In addition the company owed £74,230 (2021: £72,193) to a company with a common Director. No interest is charged on these amounts.

The above amounts are included in other debtors and other creditors.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is A E McCarthy.

The ultimate controlling party is A E McCarthy.