DQ Property Limited 12799816 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is property investment and management Digita Accounts Production Advanced 6.30.9574.0 true 12799816 2022-09-01 2023-08-31 12799816 2023-08-31 12799816 bus:OrdinaryShareClass1 2023-08-31 12799816 core:CurrentFinancialInstruments 2023-08-31 12799816 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12799816 core:FurnitureFittingsToolsEquipment 2023-08-31 12799816 core:MotorVehicles 2023-08-31 12799816 bus:SmallEntities 2022-09-01 2023-08-31 12799816 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12799816 bus:FilletedAccounts 2022-09-01 2023-08-31 12799816 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12799816 bus:RegisteredOffice 2022-09-01 2023-08-31 12799816 bus:Director2 2022-09-01 2023-08-31 12799816 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 12799816 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12799816 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 12799816 core:MotorVehicles 2022-09-01 2023-08-31 12799816 core:OfficeEquipment 2022-09-01 2023-08-31 12799816 core:Vehicles 2022-09-01 2023-08-31 12799816 countries:England 2022-09-01 2023-08-31 12799816 2022-08-31 12799816 core:FurnitureFittingsToolsEquipment 2022-08-31 12799816 core:MotorVehicles 2022-08-31 12799816 2021-09-01 2022-08-31 12799816 2022-08-31 12799816 bus:OrdinaryShareClass1 2022-08-31 12799816 core:CurrentFinancialInstruments 2022-08-31 12799816 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 12799816 core:FurnitureFittingsToolsEquipment 2022-08-31 12799816 core:MotorVehicles 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12799816

DQ Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

DQ Property Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

DQ Property Limited

(Registration number: 12799816)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

644

39,678

Investment property

5

284,745

284,745

 

285,389

324,423

Current assets

 

Debtors

6

1,269

1,607

Cash at bank and in hand

 

2,036

2,698

 

3,305

4,305

Creditors: Amounts falling due within one year

7

(298,033)

(333,242)

Net current liabilities

 

(294,728)

(328,937)

Net liabilities

 

(9,339)

(4,514)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(9,341)

(4,516)

Shareholders' deficit

 

(9,339)

(4,514)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

DQ Property Limited

(Registration number: 12799816)
Balance Sheet as at 31 August 2023

Approved and authorised by the Board on 1 May 2024 and signed on its behalf by:
 

.........................................
Dr Matthias Cheng Qian
Director

 

DQ Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

These financial statements were authorised for issue by the Board on 1 May 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

DQ Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Asset class

Depreciation method and rate

Motor vehicles

20% straight line

Office equioment

33 1/3% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate , adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price .

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 is 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

DQ Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

1,928

47,990

49,918

Disposals

-

(47,990)

(47,990)

At 31 August 2023

1,928

-

1,928

Depreciation

At 1 September 2022

642

9,598

10,240

Charge for the year

642

-

642

Eliminated on disposal

-

(9,598)

(9,598)

At 31 August 2023

1,284

-

1,284

Carrying amount

At 31 August 2023

644

-

644

At 31 August 2022

1,286

38,392

39,678

5

Investment properties

2023
£

At 1 September

284,745

At 31 August

284,745

The investment property was purchased in the period ended August 31st 2021 and in the directors' opinion there has not been a significant change in the market value, based on rental yield achievable, since this date and the 31st August 2023. It is therefore still appropriate, at 31st August 2023, to value the property at its purchase price which equates to market value .

There has been no valuation of investment property by an independent valuer.

 

DQ Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Debtors

2023
£

2022
£

Prepayments

-

338

Other debtors

1,269

1,269

1,269

1,607

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

250,000

250,000

Accruals and deferred income

 

4,594

5,182

Other creditors

 

43,439

78,060

 

298,033

333,242

Creditors include other loans of £250,000 secured over the company's investment property.

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

9

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

250,000

250,000