Quebec Court Freehold Limited - Period Ending 2015-04-30

Registration number: 07249892

Quebec Court Freehold Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

Quebec Court Freehold Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Quebec Court Freehold Limited
(Registration number: 07249892)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					8,599,394			9,230,632
Current assets
Debtors					350,310			48,160
Cash at bank and in hand					9,752			166,201
					360,062			214,361
Creditors: Amounts falling due within one year					(422,726)			(171,095)
Net current (liabilities)/assets					(62,664)			43,266
Total assets less current liabilities					8,536,730			9,273,898
Creditors: Amounts falling due after more than one year					(8,393,963)			(9,163,963)
Net assets					142,767			109,935
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					142,667			109,835
Shareholders' funds					142,767			109,935

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 20 May 2016

.........................................
Mr Tariq Mahmood Chaudhry
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Quebec Court Freehold Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents rental income receivable during the year.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% on WDV

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

As per the director, the market value of investment properties is not materially different from that of the book value.

Page 2

Quebec Court Freehold Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		9,263,537			9,263,537
Disposals		(613,000)			(613,000)
At 30 April 2015		8,650,537			8,650,537
Depreciation
At 1 May 2014		32,905			32,905
Charge for the year		18,238			18,238
At 30 April 2015		51,143			51,143
Net book value
At 30 April 2015		8,599,394			8,599,394
At 30 April 2014		9,230,632			9,230,632

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3