0 false false true false false false false false false true false false false false true true No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 81,572 127,695 209,267 209,267 81,572 xbrli:pure xbrli:shares iso4217:GBP 13987885 2023-04-01 2024-03-31 13987885 2024-03-31 13987885 2023-03-31 13987885 2022-04-01 2023-03-31 13987885 2023-03-31 13987885 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13987885 bus:Director1 2023-04-01 2024-03-31 13987885 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 13987885 core:WithinOneYear 2024-03-31 13987885 core:WithinOneYear 2023-03-31 13987885 core:AfterOneYear 2024-03-31 13987885 core:AfterOneYear 2023-03-31 13987885 core:UKTax 2022-04-01 2023-03-31 13987885 core:ShareCapital 2024-03-31 13987885 core:ShareCapital 2023-03-31 13987885 core:RetainedEarningsAccumulatedLosses 2024-03-31 13987885 core:RetainedEarningsAccumulatedLosses 2023-03-31 13987885 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 13987885 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 13987885 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 13987885 bus:SmallEntities 2023-04-01 2024-03-31 13987885 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13987885 bus:FullAccounts 2023-04-01 2024-03-31 13987885 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13987885 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13987885 bus:OrdinaryShareClass1 2024-03-31 13987885 bus:OrdinaryShareClass1 2023-03-31
COMPANY REGISTRATION NUMBER: 13987885
QMD Property Investments Ltd
Filleted Unaudited Financial Statements
31 March 2024
QMD Property Investments Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
209,267
81,572
Current assets
Cash at bank and in hand
34,303
477
Creditors: amounts falling due within one year
6
113,440
23,887
---------
--------
Net current liabilities
79,137
23,410
---------
--------
Total assets less current liabilities
130,130
58,162
Creditors: amounts falling due after more than one year
7
131,738
57,684
---------
--------
Net (liabilities)/assets
( 1,608)
478
---------
--------
Capital and reserves
Called up share capital
8
1
1
Profit and loss account
( 1,609)
477
-------
----
Shareholders (deficit)/funds
( 1,608)
478
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 August 2024 , and are signed on behalf of the board by:
Mr Q Dad
Director
Company registration number: 13987885
QMD Property Investments Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 42 Prince Street, Walsall, WS2 9JH, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tax on (loss)/profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
112
----
----
Tax on (loss)/profit
112
----
----
Reconciliation of tax expense
The tax assessed on the (loss)/profit on ordinary activities for the year is the same as (2023: the same as) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).
2024
2023
£
£
(Loss)/profit on ordinary activities before taxation
( 2,087)
590
-------
----
(Loss)/profit on ordinary activities by rate of tax
112
-------
----
5. Tangible assets
Freehold property
£
Cost
At 1 April 2023
81,572
Additions
127,695
---------
At 31 March 2024
209,267
---------
Depreciation
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
209,267
---------
At 31 March 2023
81,572
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,948
4,252
Corporation tax
113
Other creditors
104,492
19,522
---------
--------
113,440
23,887
---------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
131,738
57,684
---------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
9. Director's advances, credits and guarantees
At the period end the director is owed £103,892 (2023-£18,922). The loan is interest-free but repayable on demand.