2023-05-012024-04-302024-04-30false10137459QUEENSWAY RETAIL MANAGEMENT LONDON LIMITED2024-09-04iso4217:GBPxbrli:pure101374592023-05-01101374592024-04-30101374592023-05-012024-04-30101374592022-05-01101374592023-04-30101374592022-05-012023-04-3010137459bus:SmallEntities2023-05-012024-04-3010137459bus:AuditExempt-NoAccountantsReport2023-05-012024-04-3010137459bus:FullAccounts2023-05-012024-04-3010137459bus:PrivateLimitedCompanyLtd2023-05-012024-04-3010137459core:WithinOneYear2024-04-3010137459core:AfterOneYear2024-04-3010137459core:WithinOneYear2023-04-3010137459core:AfterOneYear2023-04-3010137459core:ShareCapital2024-04-3010137459core:SharePremium2024-04-3010137459core:RevaluationReserve2024-04-3010137459core:OtherReservesSubtotal2024-04-3010137459core:RetainedEarningsAccumulatedLosses2024-04-3010137459core:ShareCapital2023-04-3010137459core:SharePremium2023-04-3010137459core:RevaluationReserve2023-04-3010137459core:OtherReservesSubtotal2023-04-3010137459core:RetainedEarningsAccumulatedLosses2023-04-3010137459core:LandBuildings2024-04-3010137459core:PlantMachinery2024-04-3010137459core:Vehicles2024-04-3010137459core:FurnitureFittings2024-04-3010137459core:OfficeEquipment2024-04-3010137459core:NetGoodwill2024-04-3010137459core:IntangibleAssetsOtherThanGoodwill2024-04-3010137459core:ListedExchangeTraded2024-04-3010137459core:UnlistedNon-exchangeTraded2024-04-3010137459core:LandBuildings2023-04-3010137459core:PlantMachinery2023-04-3010137459core:Vehicles2023-04-3010137459core:FurnitureFittings2023-04-3010137459core:OfficeEquipment2023-04-3010137459core:NetGoodwill2023-04-3010137459core:IntangibleAssetsOtherThanGoodwill2023-04-3010137459core:ListedExchangeTraded2023-04-3010137459core:UnlistedNon-exchangeTraded2023-04-3010137459core:LandBuildings2023-05-012024-04-3010137459core:PlantMachinery2023-05-012024-04-3010137459core:Vehicles2023-05-012024-04-3010137459core:FurnitureFittings2023-05-012024-04-3010137459core:OfficeEquipment2023-05-012024-04-3010137459core:NetGoodwill2023-05-012024-04-3010137459core:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3010137459core:ListedExchangeTraded2023-05-012024-04-3010137459core:UnlistedNon-exchangeTraded2023-05-012024-04-3010137459core:MoreThanFiveYears2023-05-012024-04-3010137459core:Non-currentFinancialInstruments2024-04-3010137459core:Non-currentFinancialInstruments2023-04-3010137459dpl:CostSales2023-05-012024-04-3010137459dpl:DistributionCosts2023-05-012024-04-3010137459core:LandBuildings2023-05-012024-04-3010137459core:PlantMachinery2023-05-012024-04-3010137459core:Vehicles2023-05-012024-04-3010137459core:FurnitureFittings2023-05-012024-04-3010137459core:OfficeEquipment2023-05-012024-04-3010137459dpl:AdministrativeExpenses2023-05-012024-04-3010137459core:NetGoodwill2023-05-012024-04-3010137459core:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3010137459dpl:GroupUndertakings2023-05-012024-04-3010137459dpl:ParticipatingInterests2023-05-012024-04-3010137459dpl:GroupUndertakingscore:ListedExchangeTraded2023-05-012024-04-3010137459core:ListedExchangeTraded2023-05-012024-04-3010137459dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-05-012024-04-3010137459core:UnlistedNon-exchangeTraded2023-05-012024-04-3010137459dpl:CostSales2022-05-012023-04-3010137459dpl:DistributionCosts2022-05-012023-04-3010137459core:LandBuildings2022-05-012023-04-3010137459core:PlantMachinery2022-05-012023-04-3010137459core:Vehicles2022-05-012023-04-3010137459core:FurnitureFittings2022-05-012023-04-3010137459core:OfficeEquipment2022-05-012023-04-3010137459dpl:AdministrativeExpenses2022-05-012023-04-3010137459core:NetGoodwill2022-05-012023-04-3010137459core:IntangibleAssetsOtherThanGoodwill2022-05-012023-04-3010137459dpl:GroupUndertakings2022-05-012023-04-3010137459dpl:ParticipatingInterests2022-05-012023-04-3010137459dpl:GroupUndertakingscore:ListedExchangeTraded2022-05-012023-04-3010137459core:ListedExchangeTraded2022-05-012023-04-3010137459dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-05-012023-04-3010137459core:UnlistedNon-exchangeTraded2022-05-012023-04-3010137459core:NetGoodwill2024-04-3010137459core:IntangibleAssetsOtherThanGoodwill2024-04-3010137459core:LandBuildings2024-04-3010137459core:PlantMachinery2024-04-3010137459core:Vehicles2024-04-3010137459core:FurnitureFittings2024-04-3010137459core:OfficeEquipment2024-04-3010137459core:AfterOneYear2024-04-3010137459core:WithinOneYear2024-04-3010137459core:ListedExchangeTraded2024-04-3010137459core:UnlistedNon-exchangeTraded2024-04-3010137459core:ShareCapital2024-04-3010137459core:SharePremium2024-04-3010137459core:RevaluationReserve2024-04-3010137459core:OtherReservesSubtotal2024-04-3010137459core:RetainedEarningsAccumulatedLosses2024-04-3010137459core:NetGoodwill2023-04-3010137459core:IntangibleAssetsOtherThanGoodwill2023-04-3010137459core:LandBuildings2023-04-3010137459core:PlantMachinery2023-04-3010137459core:Vehicles2023-04-3010137459core:FurnitureFittings2023-04-3010137459core:OfficeEquipment2023-04-3010137459core:AfterOneYear2023-04-3010137459core:WithinOneYear2023-04-3010137459core:ListedExch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QUEENSWAY RETAIL MANAGEMENT LONDON LIMITED

Registered Number
10137459
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

QUEENSWAY RETAIL MANAGEMENT LONDON LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

AZIZ, Kamran

Registered Address

Eland House
Ponteland
Newcastle Upon Tyne
NE20 9TP

Registered Number

10137459 (England and Wales)
QUEENSWAY RETAIL MANAGEMENT LONDON LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,900228
1,900228
Current assets
Stocks432,00226,279
Debtors576,227153,983
Cash at bank and on hand70,5985,724
178,827185,986
Creditors amounts falling due within one year6(304,082)(339,506)
Net current assets (liabilities)(125,255)(153,520)
Total assets less current liabilities(123,355)(153,292)
Creditors amounts falling due after one year7(23,405)(33,368)
Provisions for liabilities(683)(683)
Net assets(147,443)(187,343)
Capital and reserves
Called up share capital100100
Profit and loss account(147,543)(187,443)
Shareholders' funds(147,443)(187,343)
The financial statements were approved and authorised for issue by the Director on 4 September 2024, and are signed on its behalf by:
AZIZ, Kamran
Director
Registered Company No. 10137459
QUEENSWAY RETAIL MANAGEMENT LONDON LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Revenue is recognised at the point of sale.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings25
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method.
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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year1722
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 May 2361,63561,635
Additions1,9601,960
At 30 April 2463,59563,595
Depreciation and impairment
At 01 May 2361,40761,407
Charge for year288288
At 30 April 2461,69561,695
Net book value
At 30 April 241,9001,900
At 30 April 23228228
4.Stocks

2024

2023

££
Other stocks32,00226,279
Total32,00226,279
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables43,538102,691
Other debtors7,28411,760
Prepayments and accrued income25,40539,532
Total76,227153,983
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables27,411152,966
Taxation and social security32,03768,083
Other creditors234,917111,800
Accrued liabilities and deferred income9,7176,657
Total304,082339,506
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts23,40533,368
Total23,40533,368