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REGISTERED NUMBER: 13130794 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022

FOR

PQ REALTY LTD

PQ REALTY LTD (REGISTERED NUMBER: 13130794)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PQ REALTY LTD

COMPANY INFORMATION
for the Year Ended 31st December 2022







DIRECTORS: Mr A Mellor
Mr M O'Sullivan





REGISTERED OFFICE: 1 City Road East
Manchester
M15 4PN





REGISTERED NUMBER: 13130794 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

PQ REALTY LTD (REGISTERED NUMBER: 13130794)

BALANCE SHEET
31st December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 234,902 235,373

CURRENT ASSETS
Debtors 5 4,143,834 1,870,589
Cash at bank 1,069,575 295,468
5,213,409 2,166,057
CREDITORS
Amounts falling due within one year 6 (3,399,514 ) (1,601,446 )
NET CURRENT ASSETS 1,813,895 564,611
TOTAL ASSETS LESS CURRENT LIABILITIES 2,048,797 799,984

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 2,048,796 799,983
SHAREHOLDERS' FUNDS 2,048,797 799,984

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 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.

PQ REALTY LTD (REGISTERED NUMBER: 13130794)

BALANCE SHEET - continued
31st December 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2023 and were signed on its behalf by:





Mr A Mellor - Director


PQ REALTY LTD (REGISTERED NUMBER: 13130794)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2022


1. STATUTORY INFORMATION

PQ Realty Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 13130794. The address of the registered office is 1 City Road East, Manchester, M15 4PN and the principle place of business is 30G Princes Dock St, Hull HU1 2PQ.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of service charges, which are recognised at the point of which the goods or services are provided.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Long leasehold-Over the life of the lease

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.


PQ REALTY LTD (REGISTERED NUMBER: 13130794)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Long
leasehold
£   
COST
At 1st January 2022 237,351
Additions 1,520
At 31st December 2022 238,871
DEPRECIATION
At 1st January 2022 1,978
Charge for year 1,991
At 31st December 2022 3,969
NET BOOK VALUE
At 31st December 2022 234,902
At 31st December 2021 235,373

PQ REALTY LTD (REGISTERED NUMBER: 13130794)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 2,369,985 1,355,434
Amounts owed by group undertakings 555,387 1
Tokyo debtors 1,124,288 201,387
Prepayments and accrued income 94,174 313,767
4,143,834 1,870,589

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 298,843 14,630
Amounts owed to group undertakings - 600,000
Tax 293,399 188,114
VAT 421,404 173,115
Other creditors 1,907,630 468,527
Accruals and deferred income 478,238 157,060
3,399,514 1,601,446

7. SECURED DEBTS

On the 1st April 2021 the ultimate parent company created a fixed charge over the property of the company; this charge contains a negative pledge.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £0.01 1 1

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Mellor, a director of the ultimate parent company by virtue of their controlling interest in the ultimate parent, Tokyo Industries (Ultimate) Limited.

The immediate parent undertaking at the balance sheet date was Tokyo Industries (PQ) Limited and the ultimate parent undertaking was Tokyo Industries (Ultimate) Limited, both companies are registered in England and Wales and their registered office is 1 City Road East, Manchester, M15 4PN.