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REGISTERED NUMBER: 04865992 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

QUEENSGATE PROPERTIES
(UK) LIMITED

QUEENSGATE PROPERTIES
(UK) LIMITED (REGISTERED NUMBER: 04865992)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

QUEENSGATE PROPERTIES
(UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: J N Schiller



SECRETARY: L C Schiller



REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE



REGISTERED NUMBER: 04865992 (England and Wales)



ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE



BANKERS: National Westminster Bank plc
59 High Street
Exeter
Devon
EX4 3DL

QUEENSGATE PROPERTIES
(UK) LIMITED (REGISTERED NUMBER: 04865992)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 391 521
Investments 5 4,313,479 4,771,899
4,313,870 4,772,420

CURRENT ASSETS
Debtors 6 2,902 -
Cash at bank 20,218 98,740
23,120 98,740
CREDITORS
Amounts falling due within one year 7 3,951,076 4,395,712
NET CURRENT LIABILITIES (3,927,956 ) (4,296,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

385,914

475,448

PROVISIONS FOR LIABILITIES 11,729 172,623
NET ASSETS 374,185 302,825

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 9 331,645 653,036
Retained earnings 9 42,340 (350,411 )
SHAREHOLDERS' FUNDS 374,185 302,825

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

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

The director acknowledges his 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.

QUEENSGATE PROPERTIES
(UK) LIMITED (REGISTERED NUMBER: 04865992)

STATEMENT OF FINANCIAL POSITION - continued
31 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 director and authorised for issue on 9 April 2024 and were signed by:





J N Schiller - Director


QUEENSGATE PROPERTIES
(UK) LIMITED (REGISTERED NUMBER: 04865992)

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


1. STATUTORY INFORMATION

Queensgate Properties (UK) 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, with the exception of investments which are included at market value.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Fixed asset investments
Fixed asset investments are measured at fair value, with changes in fair value recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

QUEENSGATE PROPERTIES
(UK) LIMITED (REGISTERED NUMBER: 04865992)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2022
and 31 August 2023 2,224
DEPRECIATION
At 1 September 2022 1,703
Charge for year 130
At 31 August 2023 1,833
NET BOOK VALUE
At 31 August 2023 391
At 31 August 2022 521

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 September 2022 4,771,899
Additions 1,107,233
Disposals (1,060,235 )
Revaluations (505,418 )
At 31 August 2023 4,313,479
NET BOOK VALUE
At 31 August 2023 4,313,479
At 31 August 2022 4,771,899

Investments are included at market value at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,902 -

QUEENSGATE PROPERTIES
(UK) LIMITED (REGISTERED NUMBER: 04865992)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 710,377 1,158,265
Taxation and social security - 10,108
Other creditors 3,240,699 3,227,339
3,951,076 4,395,712

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 710,377 1,158,265

The overdraft is secured against the assets of the company.

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 September 2022 (350,411 ) 653,036 302,625
Profit for the year 71,360 71,360
Transfer 321,391 (321,391 ) -
At 31 August 2023 42,340 331,645 373,985

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company had received loans from the director of £3,226,303 (2022 - £3,223,379) which are included in creditors falling due within one year. This balance is interest free and repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
QUEENSGATE PROPERTIES
(UK) LIMITED


The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Queensgate Properties (UK) Limited for the year ended 31 August 2023 which comprise the Income Statement, Statement of Financial Position 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 director of Queensgate Properties (UK) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Queensgate Properties (UK) Limited and state those matters that we have agreed to state to the director of Queensgate Properties (UK) Limited 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 Queensgate Properties (UK) Limited and its director for our work or for this report.

It is your duty to ensure that Queensgate Properties (UK) 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 Queensgate Properties (UK) Limited. You consider that Queensgate Properties (UK) 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 Queensgate Properties (UK) 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.






Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE


9 April 2024