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REGISTERED NUMBER: 13880231 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 29 JANUARY 2022 TO 31 MARCH 2023

FOR

QUARTZ PORTFOLIO LIMITED

QUARTZ PORTFOLIO LIMITED (REGISTERED NUMBER: 13880231)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 JANUARY 2022 TO 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUARTZ PORTFOLIO LIMITED

COMPANY INFORMATION
FOR THE PERIOD 29 JANUARY 2022 TO 31 MARCH 2023







DIRECTOR: N Parmar





REGISTERED OFFICE: 24 Manor Way
Harrow
HA2 6BY





REGISTERED NUMBER: 13880231 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

QUARTZ PORTFOLIO LIMITED (REGISTERED NUMBER: 13880231)

BALANCE SHEET
31 MARCH 2023

Notes £ £
FIXED ASSETS
Investment property 5 1,095,000

CURRENT ASSETS
Debtors 6 1,025
Cash at bank 10,812
11,837
CREDITORS
Amounts falling due within one year 7 30,147
NET CURRENT LIABILITIES (18,310 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,076,690

CREDITORS
Amounts falling due after more than one
year

8

721,875
NET ASSETS 354,815

CAPITAL AND RESERVES
Called up share capital 11 100
Share premium 12 363,900
Retained earnings 12 (9,185 )
SHAREHOLDERS' FUNDS 354,815

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

QUARTZ PORTFOLIO LIMITED (REGISTERED NUMBER: 13880231)

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 26 October 2023 and were signed by:





N Parmar - Director


QUARTZ PORTFOLIO LIMITED (REGISTERED NUMBER: 13880231)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 JANUARY 2022 TO 31 MARCH 2023


1. STATUTORY INFORMATION

Quartz Portfolio Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Revenue recognition
Revenue from residential property is recognised on a rent receivable basis to the balance sheet date.

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.

Taxation
Taxation for the period 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.

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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

QUARTZ PORTFOLIO LIMITED (REGISTERED NUMBER: 13880231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 JANUARY 2022 TO 31 MARCH 2023


5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
Additions 1,095,000
At 31 March 2023 1,095,000
NET BOOK VALUE
At 31 March 2023 1,095,000

In the opinion of the director, the fair value of the investment property as at 31 March 2023 is not significantly different to that stated above.

Fair value at 31 March 2023 is represented by:
£
Valuation in 2022 1,095,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Trade debtors 1,025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Directors' current accounts 27,747
Accrued expenses 2,400
30,147

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£
Bank loans (see note 9) 721,875

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 721,875

9. LOANS

An analysis of the maturity of loans is given below:

£
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 721,875

QUARTZ PORTFOLIO LIMITED (REGISTERED NUMBER: 13880231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 JANUARY 2022 TO 31 MARCH 2023


9. LOANS - continued

The bank loans are secured by a legal charge over the investment properties and by way of personal guarantees of the directors. The loans are interest only, fully repayable between 24 to 25 years period and the rate of interest charged is 2.99% above the bank base rate.

10. SECURED DEBTS

The following secured debts are included within creditors:

£
Bank loans 721,875

11. CALLED UP SHARE CAPITAL

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

100 Ordinary shares of 1 each were allotted as fully paid at a premium of 3639 per share during the period.

12. RESERVES
Retained Share
earnings premium Totals
£ £ £

Deficit for the period (9,185 ) (9,185 )
Cash share issue - 363,900 363,900
At 31 March 2023 (9,185 ) 363,900 354,715

13. RELATED PARTY DISCLOSURES

At the year ended 31 March 2023, the company owed £27,748 to its director, Mr. N Parmar.

14. ULTIMATE CONTROLLING PARTY

The director and his family are the ultimate controlling party by virtue of their shareholding in the company.