REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 24 June 2022 to 30 June 2023 |
for |
Q4 LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 24 June 2022 to 30 June 2023 |
for |
Q4 LTD |
Q4 LTD (REGISTERED NUMBER: 14195187) |
Contents of the Financial Statements |
for the period 24 June 2022 to 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Q4 LTD |
Company Information |
for the period 24 June 2022 to 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Bronwylfa |
Llangunnor Road |
Carmarthen |
Dyfed |
SA31 2PB |
Q4 LTD (REGISTERED NUMBER: 14195187) |
Balance Sheet |
30 June 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Q4 LTD (REGISTERED NUMBER: 14195187) |
Notes to the Financial Statements |
for the period 24 June 2022 to 30 June 2023 |
1. | STATUTORY INFORMATION |
Q4 Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 Statement of Income and Retained Earnings, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
Q4 LTD (REGISTERED NUMBER: 14195187) |
Notes to the Financial Statements - continued |
for the period 24 June 2022 to 30 June 2023 |
4. | INVESTMENT PROPERTY - continued |
Included in fair value of investment property is freehold land of £ 39,502 which is not depreciated. |
The property was linked to coal mining, the production of coke and the coal washeries. It is adjacent to the former spoil tip and was purchased through auction with negligible opportunity to conduct any due diligence. It was purchased through Q4 Ltd, therefore, to protect against possible future liabilities that could have arisen from undisclosed land contamination. This option was taken rather than purchasing the land directly through Answers and Solutions Ltd, which is entirely owned by one of the directors. Answers and Solutions Ltd operates its own separate trade. |
Answers and Solutions Ltd has taken up a tenancy of 10 years with Q4. A peppercorn rent of £1 per year has been agreed, but will be waived initially due to the fact that Answers and Solutions Ltd is incurring land remediation costs and other expenses in the early years. |
The property (which comprises land only) has not been formally valued at this early point in its life. As such, the initial cost is a fair value per the director, who is confident it was purchased for a good price. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
Other debtors of £100 is for unpaid share capital. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
Other creditors of £39,502 relates to a loan from DS Wainwright to purchase the land. He is co-owner of Q4 Ltd, and was appointed director on 1 February 2024. There are no formal arrangements for repayment of the loan, and is interest-free. |