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Registration number: 09017498

46QR Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

46QR Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

46QR Ltd

Company Information

Director

Mr M A Bacha

Registered office

31 Kensington Mansions
Trebovir Road
London
SW5 9TQ

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

46QR Ltd

(Registration number: 09017498)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

5

950,000

950,000

Current assets

 

Cash at bank and in hand

 

122,100

77,637

Creditors: Amounts falling due within one year

6

(589,301)

(564,478)

Net current liabilities

 

(467,201)

(486,841)

Total assets less current liabilities

 

482,799

463,159

Provisions for liabilities

(69,570)

(52,873)

Net assets

 

413,229

410,286

Capital and reserves

 

Called up share capital

7

100

100

Other reserves

248,073

264,770

Retained earnings

165,056

145,416

Shareholders' funds

 

413,229

410,286

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 November 2023
 

 

46QR Ltd

(Registration number: 09017498)
Balance Sheet as at 30 April 2023

.........................................
Mr M A Bacha
Director

 

46QR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
31 Kensington Mansions
Trebovir Road
London
SW5 9TQ
England

2

Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in 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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

46QR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

5 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by management. Management use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

46QR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.



 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

46QR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

6,501

6,501

At 30 April 2023

6,501

6,501

Depreciation

At 1 May 2022

6,501

6,501

At 30 April 2023

6,501

6,501

Carrying amount

At 30 April 2023

-

-

 

46QR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Investment properties

2023
£

At 1 May

950,000

At 30 April

950,000

The historical cost of the investment properties as at 30 April 2023 is £632,357 (2022: £632,357) and the fair value is £950,000 (2022: £950,000).

There has been no valuation of investment property by an independent valuer.

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

270

252

Taxation and social security

15,605

10,494

Accruals and deferred income

7,882

5,432

Other creditors

565,544

548,300

589,301

564,478

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

46QR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Related party transactions

Transactions with the director

2023

At 1 May 2022
£

Repayments by director
£

At 30 April 2023
£

Mr M A Bacha

Amount owed to/(from) the Director

200,936

50,633

251,569

       
     

 

2022

At 1 May 2021
£

Repayments by director
£

At 30 April 2022
£

Mr M A Bacha

Amount owed to/(from) the Director

249,706

(48,770)

200,936