Registration number:
Quattro Homes Ltd
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Quattro Homes Ltd
Statement of Financial Position as at 31 March 2023
Note |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
4 |
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Retained earnings |
(6,551) |
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Shareholders' deficit |
(6,547) |
For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Quattro Homes Ltd
Statement of Financial Position as at 31 March 2023
Approved and authorised by the
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J Staunch
Director
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S R Ryan
Director
Company registration number: 13854826
Quattro Homes Ltd
Notes to the Unaudited Financial Statements for the Period from 18 January 2022 to 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of property investment.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The company made a loss year ended 31 March 2023 and had net liabilities at that date of £6,547. The directors have confirmed that they will continue to provide financial support and will not request repayment of the amount of £85,725 due to them at 31 March 2023 until at such time the company has sufficient working capital.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Quattro Homes Ltd
Notes to the Unaudited Financial Statements for the Period from 18 January 2022 to 31 March 2023
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company during the period, was
Investment properties |
2023 |
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Fair value |
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Additions |
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At 31 March 2023 |
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The investment properties are stated at fair value, as estimated by the directors at 31 March 2023 at an amount of £253,920.
Quattro Homes Ltd
Notes to the Unaudited Financial Statements for the Period from 18 January 2022 to 31 March 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
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Loans |
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2023 |
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Due after more than five years |
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After more than five years other than by instalments |
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Loans and borrowings |
2023 |
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Non-current loans and borrowings |
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Bank loans |
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Bank loans are secured by a fixed charge on the company's investment property.