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REGISTERED NUMBER: 02088586 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

Q 1 ESTATES LIMITED

Q 1 ESTATES LIMITED (REGISTERED NUMBER: 02088586)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Q 1 ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: Ms J A Quinn
Mr A J P Quinn



SECRETARY: Ms J A Quinn



REGISTERED OFFICE: 1 Stampstone Street
Oldham
Lancashire
OL1 3PW



REGISTERED NUMBER: 02088586 (England and Wales)



ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH



BANKERS: Barclays Bank plc
25 High Street
Oldham
OL1 3AZ

Q 1 ESTATES LIMITED (REGISTERED NUMBER: 02088586)

BALANCE SHEET
31ST AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8 8
Investment property 5 1,430,462 1,430,462
1,430,470 1,430,470

CURRENT ASSETS
Cash at bank 2,345 2,345

CREDITORS
Amounts falling due within one year 6 600,416 564,916
NET CURRENT LIABILITIES (598,071 ) (562,571 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

832,399

867,899

CREDITORS
Amounts falling due after more than one
year

7

-

(35,500

)

PROVISIONS FOR LIABILITIES 8 (22,385 ) (22,385 )
NET ASSETS 810,014 810,014

CAPITAL AND RESERVES
Called up share capital 9 166,124 166,124
Capital redemption reserve 133,876 133,876
Fair value reserve 10 507,951 507,951
Retained earnings 2,063 2,063
SHAREHOLDERS' FUNDS 810,014 810,014

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

Q 1 ESTATES LIMITED (REGISTERED NUMBER: 02088586)

BALANCE SHEET - continued
31ST AUGUST 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 16th January 2024 and were signed on its behalf by:





Mr A J P Quinn - Director


Q 1 ESTATES LIMITED (REGISTERED NUMBER: 02088586)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Q 1 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.

The company was dormant throughout the current year and previous year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

Financial instruments
A financial asset or liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.


Q 1 ESTATES LIMITED (REGISTERED NUMBER: 02088586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2022
and 31st August 2023 21,474
DEPRECIATION
At 1st September 2022
and 31st August 2023 21,466
NET BOOK VALUE
At 31st August 2023 8
At 31st August 2022 8

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2022
and 31st August 2023 1,430,462
NET BOOK VALUE
At 31st August 2023 1,430,462
At 31st August 2022 1,430,462

The investment property was valued at the year end by a competent director.

Fair value at 31st August 2023 is represented by:
£   
Valuation in 2020 482,135
Cost 948,327
1,430,462

Q 1 ESTATES LIMITED (REGISTERED NUMBER: 02088586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 555,717 484,717
Other creditors 44,699 80,199
600,416 564,916

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors - 35,500

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 22,385 22,385

Deferred
tax
£   
Balance at 1st September 2022 22,385
Balance at 31st August 2023 22,385

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
166,124 Ordinary shares £1 166,124 166,124

10. RESERVES
Fair
value
reserve
£   
At 1st September 2022
and 31st August 2023 507,951

11. ULTIMATE CONTROLLING PARTY

The controlling party is Inhoco 3381 Limited.

The ultimate controlling party is Q Crane Hire Limited.