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REGISTERED NUMBER: 01499355 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

QUARTIC PROPERTIES LTD

QUARTIC PROPERTIES LTD (REGISTERED NUMBER: 01499355)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


QUARTIC PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: S G Whitworth
J H Mannooch
E W Pearton





SECRETARY: E W Pearton





REGISTERED OFFICE: Priory Road
Strood
Rochester
Kent
ME2 2EG





REGISTERED NUMBER: 01499355 (England and Wales)





ACCOUNTANTS: The Carley Partnership
Second Floor South
The Fitted Rigging House, Anchor Wharf
The Historic Dockyard
Chatham
Kent
ME4 4TZ

QUARTIC PROPERTIES LTD (REGISTERED NUMBER: 01499355)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 120,754 120,754

CURRENT ASSETS
Cash at bank 507 579

CREDITORS
Amounts falling due within one year 5 64,042 62,920
NET CURRENT LIABILITIES (63,535 ) (62,341 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,219

58,413

CAPITAL AND RESERVES
Called up share capital 6 20,000 20,000
Other reserves 15,798 15,798
Retained earnings 21,421 22,615
SHAREHOLDERS' FUNDS 57,219 58,413

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

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

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 23 April 2024 and were signed on its behalf by:





S G Whitworth - Director


QUARTIC PROPERTIES LTD (REGISTERED NUMBER: 01499355)

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


1. STATUTORY INFORMATION

Quartic Properties Ltd 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.

Turnover
Turnover represents the net invoiced rents receivable, excluding Value Added Tax.

Tangible fixed assets
Freehold land and buildings are not depreciated. This represents a departure from the provisions of the Companies Act 2006. The company has a policy and practice of regular maintenance and repair, the charges for which are recognised in the profit and loss account as incurred. The company believes that such a policy ensures that the estimated residual values of its properties at the balance sheet date are maintained at levels not materially different from the carrying amount of the assets. As such, no depreciation charge is made on the grounds that any such charge would be immaterial.

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.

3. EMPLOYEES AND DIRECTORS

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

QUARTIC PROPERTIES LTD (REGISTERED NUMBER: 01499355)

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


4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 August 2022
and 31 July 2023 190,750
DEPRECIATION
At 1 August 2022
and 31 July 2023 69,996
NET BOOK VALUE
At 31 July 2023 120,754
At 31 July 2022 120,754

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 2,066 4,312
Other creditors 61,976 58,608
64,042 62,920

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6,666 A Ordinary £1 6,666 6,666
6,666 B Ordinary £1 6,666 6,666
6,668 C Ordinary £1 6,668 6,668
20,000 20,000