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Company Registration No. SC575144 (Scotland)
A & Q Properties Ltd Unaudited accounts for the year ended 31 August 2023
A & Q Properties Ltd Unaudited accounts Contents
Page
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A & Q Properties Ltd Company Information for the year ended 31 August 2023
Director
Mr Mohammed Amir Sadiq
Company Number
SC575144 (Scotland)
Registered Office
90 Fernlea Bearsden Glasgow Lanarkshire G61 1NB Scotland
Accountants
AMS Accounting Services Ltd Chartered Certified Accountants 7 Callanish Crescent Newton Mearns Glasgow United Kingdom G77 5WT
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A & Q Properties Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
337,500 
326,000 
Current assets
Debtors
4,355 
- 
Cash at bank and in hand
7,439 
25,749 
11,794 
25,749 
Creditors: amounts falling due within one year
(56,467)
(83,674)
Net current liabilities
(44,673)
(57,925)
Total assets less current liabilities
292,827 
268,075 
Creditors: amounts falling due after more than one year
(244,962)
(247,969)
Net assets
47,865 
20,106 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
47,863 
20,104 
Shareholders' funds
47,865 
20,106 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 April 2024 and were signed on its behalf by
Mr Mohammed Amir Sadiq Director Company Registration No. SC575144
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A & Q Properties Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
A & Q Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC575144. The registered office is 90 Fernlea, Bearsden, Glasgow, Lanarkshire, G61 1NB, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15%
Turnover
Turnover from rental income represents the value of the rental amount under the agreement to the extent that there is a right to the considerations and is recorded at the value of the considerations due.
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 taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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A & Q Properties Ltd Notes to the Accounts for the year ended 31 August 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 profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and 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.
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
326,000 
- 
326,000 
Additions
- 
11,500 
11,500 
At 31 August 2023
326,000 
11,500 
337,500 
Depreciation
At 31 August 2023
- 
- 
- 
Net book value
At 31 August 2023
326,000 
11,500 
337,500 
At 31 August 2022
326,000 
- 
326,000 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
4,355 
- 
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A & Q Properties Ltd Notes to the Accounts for the year ended 31 August 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
4,049 
3,973 
Loans from directors
51,943 
79,701 
Accruals
475 
- 
56,467 
83,674 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
244,962 
247,969 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
The company owes Mr Mohammed Amir Sadiq, a director, an amount of £51,943 (2022: £79,701) as at the balance sheet date. There is no interest on this loan and no fixed date for repayment.
10
Controlling party
There was no ultimate controlling party during the year.
11
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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