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REGISTERED NUMBER: 11028048 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

QP (EAST ANGLIA) PROPERTIES LTD

QP (EAST ANGLIA) PROPERTIES LTD (REGISTERED NUMBER: 11028048)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QP (EAST ANGLIA) PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: H R Svensson





SECRETARY: Mrs M L Falcon Leque





REGISTERED OFFICE: Maw Hall
Rawstorn Road
Colchester
Essex
CO3 3JH





REGISTERED NUMBER: 11028048 (England and Wales)





ACCOUNTANTS: Richard Sexton & Co LLP
3 Manor Road
Colchester
Essex
CO3 3LU

QP (EAST ANGLIA) PROPERTIES LTD (REGISTERED NUMBER: 11028048)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,725,271 1,948,552

CURRENT ASSETS
Debtors 5 46,202 200,925
Cash at bank 209,755 -
255,957 200,925
CREDITORS
Amounts falling due within one year 6 270,233 318,533
NET CURRENT LIABILITIES (14,276 ) (117,608 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,710,995

1,830,944

CREDITORS
Amounts falling due after more than one year 7 (900,000 ) -

PROVISIONS FOR LIABILITIES (17,280 ) (19,590 )
NET ASSETS 1,793,715 1,811,354

CAPITAL AND RESERVES
Called up share capital 200 200
Non-distributable reserve 10 51,825 83,471
Retained earnings 10 1,741,690 1,727,683
1,793,715 1,811,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

QP (EAST ANGLIA) PROPERTIES LTD (REGISTERED NUMBER: 11028048)

BALANCE SHEET - continued
31 MARCH 2023


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 23 August 2023 and were signed by:





H R Svensson - Director


QP (EAST ANGLIA) PROPERTIES LTD (REGISTERED NUMBER: 11028048)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

QP (East Anglia) Properties 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Investment properties - not provided

Government grants
Government Grants in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Investments in subsidiaries
Investments in subsidiary undertakings were recognised at cost.

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.

Any cumulative surplus is treated, net of related deferred tax provisions, as a non-distributable reserve.

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.


QP (EAST ANGLIA) PROPERTIES LTD (REGISTERED NUMBER: 11028048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,948,552
Additions 810,675
Impairments (33,956 )
At 31 March 2023 2,725,271
NET BOOK VALUE
At 31 March 2023 2,725,271
At 31 March 2022 1,948,552

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 103,062
Valuation in 2023 (33,956 )
Cost 2,656,165
2,725,271

QP (EAST ANGLIA) PROPERTIES LTD (REGISTERED NUMBER: 11028048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,656,165 1,845,490

Investment properties were valued on an open market basis on 31 March 2023 by Beresford Property Group & Paragon Bank .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings - 6,662
Amounts owed by associates 4,346 187,825
Prepayments and accrued income 41,856 6,438
46,202 200,925

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 132,176
Trade creditors 55,688 8,607
Amounts owed to group undertakings 202,219 -
Corporation tax 3,640 158,350
Social security and other taxes 4,715 14,212
Accrued expenses 3,971 5,188
270,233 318,533

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 900,000 -

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 6,389 6,389
Between one and five years 4,792 11,181
11,181 17,570

QP (EAST ANGLIA) PROPERTIES LTD (REGISTERED NUMBER: 11028048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 132,176
Bank loans 900,000 -
900,000 132,176

The bank loan is secured by way of a fixed charge over certain investment properties of the company.

10. RESERVES
Retained Non-distributable
earnings reserve Totals
£    £    £   

At 1 April 2022 1,727,683 83,471 1,811,154
Deficit for the year (17,639 ) (17,639 )
Transfer to non-distributable
reserve 31,646 (31,646 ) -
At 31 March 2023 1,741,690 51,825 1,793,515

11. ULTIMATE CONTROLLING PARTY

The company is controlled by its parent, QP (East Anglia) Holdings Limited.

The company is ultimately under the control of H R Svensson who owns 100% of the issued share capital
in QP (East Anglia) Holdings Limited.