Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-01-01falseNo description of principal activity22falsetrue 13192893 2022-01-01 2022-12-31 13192893 2021-02-10 2021-12-31 13192893 2022-12-31 13192893 2021-12-31 13192893 c:Director5 2022-01-01 2022-12-31 13192893 d:FurnitureFittings 2022-01-01 2022-12-31 13192893 d:FurnitureFittings 2022-12-31 13192893 d:FurnitureFittings 2021-12-31 13192893 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 13192893 d:OfficeEquipment 2022-01-01 2022-12-31 13192893 d:OfficeEquipment 2022-12-31 13192893 d:OfficeEquipment 2021-12-31 13192893 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 13192893 d:ComputerEquipment 2022-01-01 2022-12-31 13192893 d:ComputerEquipment 2022-12-31 13192893 d:ComputerEquipment 2021-12-31 13192893 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 13192893 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 13192893 d:CurrentFinancialInstruments 2022-12-31 13192893 d:CurrentFinancialInstruments 2021-12-31 13192893 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13192893 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 13192893 d:ShareCapital 2022-12-31 13192893 d:ShareCapital 2021-12-31 13192893 d:RetainedEarningsAccumulatedLosses 2022-12-31 13192893 d:RetainedEarningsAccumulatedLosses 2021-12-31 13192893 c:OrdinaryShareClass1 2022-01-01 2022-12-31 13192893 c:OrdinaryShareClass1 2022-12-31 13192893 c:OrdinaryShareClass1 2021-12-31 13192893 c:FRS102 2022-01-01 2022-12-31 13192893 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 13192893 c:FullAccounts 2022-01-01 2022-12-31 13192893 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 13192893 4 2022-01-01 2022-12-31 13192893 6 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13192893









Q APARTMENTS (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
Q APARTMENTS (UK) LIMITED
REGISTERED NUMBER: 13192893

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

As restated
2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 5 
66,707
12,096

Investments
 6 
1,200
1,000

  
67,907
13,096

Current assets
  

Debtors: amounts falling due within one year
 7 
5,788,103
1,960,470

Cash at bank and in hand
 8 
754,108
38,814

  
6,542,211
1,999,284

Creditors: amounts falling due within one year
 9 
(6,926,859)
(2,569,638)

Net current liabilities
  
 
 
(384,648)
 
 
(570,354)

Total assets less current liabilities
  
(316,741)
(557,258)

  

Net liabilities
  
(316,741)
(557,258)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(316,841)
(557,358)

  
(316,741)
(557,258)



 
Q APARTMENTS (UK) LIMITED
REGISTERED NUMBER: 13192893
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 October 2023.




C Campion
Director

The notes on page 2 form part of these financial statements.


 
Q APARTMENTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Q Apartments (UK) Limited is a private company limited by shares and incorporated in England & Wales (registered number 13192893). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The directors have obtained assurances from the parent company and other group undertakings to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.


 
Q APARTMENTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.


 
Q APARTMENTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight-line
Office equipment
-
25%
Straight-line
Computer equipment
-
20%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


 
Q APARTMENTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Exceptional items

2022
2021
£
£


Operations-related exceptional items
24
-

24
-


5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
12,168
-
598
12,766


Additions
17,166
1,091
48,122
66,379



At 31 December 2022

29,334
1,091
48,720
79,145



Depreciation


At 1 January 2022
630
-
40
670


Charge for the year on owned assets
5,765
242
5,761
11,768



At 31 December 2022

6,395
242
5,801
12,438



Net book value



At 31 December 2022
22,939
849
42,919
66,707


 
Q APARTMENTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
1,000


Additions
300


Disposals
(100)



At 31 December 2022
1,200





7.


Debtors

2022
2021
£
£


Trade debtors
1,822,099
1,072,800

Amounts owed by group undertakings
3,480,374
622,360

Other debtors
479,347
260,094

Prepayments and accrued income
6,283
5,216

5,788,103
1,960,470



8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
754,108
38,814

Less: bank overdrafts
(325,042)
(17,696)

429,066
21,118


Page 1

 
Q APARTMENTS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
325,042
17,696

Trade creditors
204,847
261,791

Amounts owed to group undertakings
4,884,954
1,717,238

Other taxation and social security
529,222
158,093

Other creditors
575,611
157,163

Accruals and deferred income
407,183
257,657

6,926,859
2,569,638



10.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



11.


Prior year adjustment

A bad debt provision of £567,730 was deemed to be required in relation to revenue recognised in 2021. The conditions requiring the provision existed at the prior year end and given the material nature, management have deceided to make a prior year adjustment to correct this.

 
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