REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 December 2023 |
for |
Quayvalley Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 December 2023 |
for |
Quayvalley Limited |
Quayvalley Limited (Registered number: 04632833) |
Contents of the Financial Statements |
For The Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Quayvalley Limited |
Company Information |
For The Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Avalon House |
Waltham Business Park |
Brickyard Road, Swanmore |
Southampton |
Hampshire |
SO32 2SA |
Quayvalley Limited (Registered number: 04632833) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Quayvalley Limited (Registered number: 04632833) |
Balance Sheet - continued |
31 December 2023 |
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 |
Quayvalley Limited (Registered number: 04632833) |
Notes to the Financial Statements |
For The Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Quayvalley Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
Investment properties are measured at their fair value estimated by the directors based on the current market value of the properties. |
Turnover |
Turnover represents net distributions from the company's property portfolio and also management consultancy fees. |
Investments in associates |
Investments in associate undertakings are recognised at 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. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the year 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. |
Quayvalley Limited (Registered number: 04632833) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
3. | 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | FIXED ASSET INVESTMENTS |
31.12.23 | 31.12.22 |
£ | £ |
Participating interests |
Loans to undertakings in which the company has a participating interest |
Additional information is as follows: |
Interest |
in |
associate |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Loans to |
associates |
£ |
At 1 January 2023 |
Repayment in year | ( |
) |
At 31 December 2023 |
Quayvalley Limited (Registered number: 04632833) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The tangible assets represent an interest in the freehold of two properties. |
Investment properties are included at fair value. Gains and losses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold. |
Fair value at 31 December 2023 is represented by: |
£ |
Valuation in 2014 | 139,773 |
Valuation in 2016 | (6,988 | ) |
Valuation in 2019 | (35,492 | ) |
Cost | 710,481 |
807,774 |
If investment properties had not been revalued they would have been included at the following historical cost: |
31.12.23 | 31.12.22 |
£ | £ |
Cost | 710,481 | 417,507 |
Investment properties were valued on fair value basis on 31 December 2022 by the company directors. . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Tax |
Directors' current accounts | 200,000 | 249,919 |
Accruals and deferred income |
Quayvalley Limited (Registered number: 04632833) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
9. | RELATED PARTY DISCLOSURES |
The company holds 34.31% of the share capital of Type One Investments Limited, a company registered in England and Wales. During the year the company received loan repayments from this associated company. The loans to associated companies are repayable on demand. |
10. | POST BALANCE SHEET EVENTS |
During the year costs were incurred relating to the potential future redevelopment of one of the investment properties. The directors estimate that this does not affect the current fair value of the property and therefore is a non-adjusting post balance sheet event. |