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REGISTERED NUMBER: 06036954 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

QUEENSBERRY ESTATES LIMITED

QUEENSBERRY ESTATES LIMITED (REGISTERED NUMBER: 06036954)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


QUEENSBERRY ESTATES LIMITED

Company Information
for the year ended 31 December 2023







DIRECTORS: A R Baker
J L Baker





SECRETARY: J L Baker





REGISTERED OFFICE: Newham
7 Upper Oldfield Park
Bath
BA2 3JX





REGISTERED NUMBER: 06036954 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Queensberry Estates Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Queensberry Estates Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Queensberry Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Queensberry Estates Limited and state those matters that we have agreed to state to the Board of Directors of Queensberry Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Queensberry Estates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Queensberry Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Queensberry Estates Limited. You consider that Queensberry Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Queensberry Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


16 April 2024

QUEENSBERRY ESTATES LIMITED (REGISTERED NUMBER: 06036954)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,961,415 1,355,063
1,961,415 1,355,063

CURRENT ASSETS
Debtors 6 12,016 15,635
Cash at bank 32,960 183,871
44,976 199,506
CREDITORS
Amounts falling due within one year 7 518,982 257,966
NET CURRENT LIABILITIES (474,006 ) (58,460 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,487,409

1,296,603

CREDITORS
Amounts falling due after more than one
year

8

(130,000

)

-

PROVISIONS FOR LIABILITIES 10 (88,729 ) (88,765 )
NET ASSETS 1,268,680 1,207,838

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 451,725 451,725
Retained earnings 816,953 756,111
SHAREHOLDERS' FUNDS 1,268,680 1,207,838

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

QUEENSBERRY ESTATES LIMITED (REGISTERED NUMBER: 06036954)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





A R Baker - Director


QUEENSBERRY ESTATES LIMITED (REGISTERED NUMBER: 06036954)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Queensberry Estates 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Turnover
Turnover represents net invoiced sales of service excluding value added tax. Revenue is recognised when services are rendered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

Land and buildings are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

Any revaluation increase in the carrying amount of land and buildings is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which the increase is credited to profit and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset's original cost is transferred from revaluation reserve to retained earnings.


QUEENSBERRY ESTATES LIMITED (REGISTERED NUMBER: 06036954)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the assets original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Hire purchase and leasing agreements
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

QUEENSBERRY ESTATES LIMITED (REGISTERED NUMBER: 06036954)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 105,300
AMORTISATION
At 1 January 2023
and 31 December 2023 105,300
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 1,350,000 52,394 3,018 1,405,412
Additions 606,052 1,817 - 607,869
At 31 December 2023 1,956,052 54,211 3,018 2,013,281
DEPRECIATION
At 1 January 2023 - 47,666 2,683 50,349
Charge for year - 1,182 335 1,517
At 31 December 2023 - 48,848 3,018 51,866
NET BOOK VALUE
At 31 December 2023 1,956,052 5,363 - 1,961,415
At 31 December 2022 1,350,000 4,728 335 1,355,063

In the previous financial year, the freehold property was revalued. The directors have considered this valuation and have agreed that it continues to reflect the current market value.

Cost or valuation at 31 December 2023 is represented by:

Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
Valuation in 2016 204,073 - - 204,073
Valuation in 2022 350,000 - - 350,000
Cost 1,401,979 54,211 3,018 1,459,208
1,956,052 54,211 3,018 2,013,281

QUEENSBERRY ESTATES LIMITED (REGISTERED NUMBER: 06036954)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,666 12,606
Other debtors 9,350 3,029
12,016 15,635

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,072 -
Taxation and social security 24,053 34,576
Other creditors 489,857 223,390
518,982 257,966

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 130,000 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 190,000 -

The mortgage is secured on the property 21 Wellsway.

Handlesbanken have a legal charge over 19 St James Parade.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 1,229 1,265
Other timing differences 87,500 87,500
88,729 88,765

Deferred
tax
£   
Balance at 1 January 2023 88,765
Provided during year (36 )
Accelerated capital allowances
Revaluation
Balance at 31 December 2023 88,729

QUEENSBERRY ESTATES LIMITED (REGISTERED NUMBER: 06036954)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary A £1 2 2