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REGISTERED NUMBER: 11121420 (England and Wales)











Financial Statements

for the Period 31 December 2021 to 30 March 2023

for


Quartz Property Limited



Quartz Property Limited (Registered number: 11121420)








Contents of the Financial Statements

for the Period 31 December 2021 to 30 March 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





Quartz Property Limited



Company Information

for the Period 31 December 2021 to 30 March 2023









DIRECTOR:

G J Durbin







REGISTERED OFFICE:

6 Birchensale Farm


Lowfield Lane


Redditch


Worcestershire


B97 6QB







REGISTERED NUMBER:

11121420 (England and Wales)







ACCOUNTANTS:

SKS Bailey Group Limited


Suite 4, 10/12 The Grove,


Ilkley


West Yorkshire


LS29 9EG



Quartz Property Limited (Registered number: 11121420)



Balance Sheet

30 March 2023



2023


2021


Notes

£   

£   


FIXED ASSETS

Tangible assets

4

595,000


548,902




CURRENT ASSETS

Debtors

5

106


-



Cash at bank

368,482


25,692



368,588


25,692



CREDITORS

Amounts falling due within one year

6

(673,195

)

(337,785

)


NET CURRENT LIABILITIES

(304,607

)

(312,093

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

290,393


236,809




CREDITORS

Amounts falling due after more than one

year

7

(350,356

)

(350,408

)


NET LIABILITIES

(59,963

)

(113,599

)



CAPITAL AND RESERVES

Called up share capital

9

100


100



Revaluation reserve

10

46,098


-



Retained earnings

10

(106,161

)

(113,699

)


SHAREHOLDERS' FUNDS

(59,963

)

(113,599

)



The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2023.  


The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 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.



Quartz Property Limited (Registered number: 11121420)



Balance Sheet - continued

30 March 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 16 August 2024 and were signed by:






G J Durbin - Director




Quartz Property Limited (Registered number: 11121420)



Notes to the Financial Statements

for the Period 31 December 2021 to 30 March 2023


1.

STATUTORY INFORMATION



Quartz Property 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.    



TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


TANGIBLE FIXED ASSETS


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  



TAXATION

Taxation for the period 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 period 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.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the period was NIL (2021 - NIL).



Quartz Property Limited (Registered number: 11121420)



Notes to the Financial Statements - continued

for the Period 31 December 2021 to 30 March 2023


4.

TANGIBLE FIXED ASSETS


Freehold


property

£   



COST OR VALUATION


At 31 December 2021

548,902




Revaluations

46,098




At 30 March 2023

595,000




NET BOOK VALUE


At 30 March 2023

595,000




At 30 December 2021

548,902





Cost or valuation at 30 March 2023 is represented by:



Freehold


property

£   



Valuation in 2023

46,098




Cost

548,902



595,000




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2021


£   

£   



Prepayments and accrued income

106


-




6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2021


£   

£   



Other creditors

28,590


-




Directors' current accounts

644,089


335,984




Accrued expenses

516


1,801



673,195


337,785




7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR


2023

2021


£   

£   



Bank loans (see note 8)

350,356


350,408





Amounts falling due in more than five years:



Repayable by instalments


Bank loans more 5 yr by instal

350,356


350,408





Quartz Property Limited (Registered number: 11121420)



Notes to the Financial Statements - continued

for the Period 31 December 2021 to 30 March 2023


8.

LOANS



An analysis of the maturity of loans is given below:


2023

2021


£   

£   



Amounts falling due in more than five years:


Repayable by instalments


Bank loans more 5 yr by instal

350,356


350,408




9.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2023

2021



value:

£   

£   



100

Ordinary

1

100


100




10.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 31 December 2021

(113,699

)

-


(113,699

)



Profit for the period

7,538


7,538




No description

-


46,098


46,098




At 30 March 2023

(106,161

)

46,098


(60,063

)



11.

DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES


The Company owed the directors’ £644,089 as at 30th March 2023 (2021 - £335,984).

12.

RELATED PARTY DISCLOSURES



There is a loan from Quartz Property Family Partnership LLP totalling £28,645 as at 30th March 2023. Quartz Property Limited is controlled by G J Durbin, who is a member of Quartz Property Family Partnership LLP.