Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true22023-07-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04233045 2023-07-01 2024-06-30 04233045 2022-07-01 2023-06-30 04233045 2024-06-30 04233045 2023-06-30 04233045 c:CompanySecretary1 2023-07-01 2024-06-30 04233045 c:Director1 2023-07-01 2024-06-30 04233045 c:Director2 2023-07-01 2024-06-30 04233045 c:RegisteredOffice 2023-07-01 2024-06-30 04233045 d:MotorVehicles 2023-07-01 2024-06-30 04233045 d:MotorVehicles 2024-06-30 04233045 d:MotorVehicles 2023-06-30 04233045 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04233045 d:FurnitureFittings 2023-07-01 2024-06-30 04233045 d:FurnitureFittings 2024-06-30 04233045 d:FurnitureFittings 2023-06-30 04233045 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04233045 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04233045 d:CurrentFinancialInstruments 2024-06-30 04233045 d:CurrentFinancialInstruments 2023-06-30 04233045 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04233045 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04233045 d:ShareCapital 2024-06-30 04233045 d:ShareCapital 2023-06-30 04233045 d:RetainedEarningsAccumulatedLosses 2024-06-30 04233045 d:RetainedEarningsAccumulatedLosses 2023-06-30 04233045 c:OrdinaryShareClass1 2023-07-01 2024-06-30 04233045 c:OrdinaryShareClass1 2024-06-30 04233045 c:OrdinaryShareClass1 2023-06-30 04233045 c:OrdinaryShareClass2 2023-07-01 2024-06-30 04233045 c:OrdinaryShareClass2 2024-06-30 04233045 c:OrdinaryShareClass2 2023-06-30 04233045 c:FRS102 2023-07-01 2024-06-30 04233045 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04233045 c:FullAccounts 2023-07-01 2024-06-30 04233045 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 04233045







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024


QUEENSGATE CORPORATION LIMITED






































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QUEENSGATE CORPORATION LIMITED
 


 
COMPANY INFORMATION


Directors
N. K. Reay 
A. L. Reay 




Company secretary
A. L. Reay



Registered number
04233045



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


QUEENSGATE CORPORATION LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6

 


QUEENSGATE CORPORATION LIMITED
REGISTERED NUMBER:04233045



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,911
12,197

  
8,911
12,197

Current assets
  

Stocks
  
962,406
918,273

Debtors: amounts falling due within one year
 5 
280,440
107,131

Cash at bank and in hand
  
424,209
703,458

  
1,667,055
1,728,862

Creditors: amounts falling due within one year
 6 
(33,871)
(36,292)

Net current assets
  
 
 
1,633,184
 
 
1,692,570

Total assets less current liabilities
  
1,642,095
1,704,767

Provisions for liabilities
  

Deferred tax
  
-
(2,037)

  
 
 
-
 
 
(2,037)

Net assets
  
1,642,095
1,702,730

Page 1

 


QUEENSGATE CORPORATION LIMITED
REGISTERED NUMBER:04233045


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 7 
652,800
652,800

Profit and loss account
  
989,295
1,049,930

  
1,642,095
1,702,730


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

N. K. Reay
Director

Date: 4 September 2024

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 


QUEENSGATE CORPORATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Queensgate Corporation Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.3

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

 


QUEENSGATE CORPORATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
Straight line over five years
Equipment
-
Straight line over five years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

  
2.5

Work in progress

Work in progress is valued on the basis of direct costs incurred and included within stocks. No element of profit is included in the valuation of the work in progress.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).

Page 4

 


QUEENSGATE CORPORATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Motor vehicles
Equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
16,428
6,395
22,823



At 30 June 2024

16,428
6,395
22,823



Depreciation


At 1 July 2023
4,231
6,395
10,626


Charge for the year
3,286
-
3,286



At 30 June 2024

7,517
6,395
13,912



Net book value



At 30 June 2024
8,911
-
8,911



At 30 June 2023
12,197
-
12,197


5.


Debtors

2024
2023
£
£


Other debtors
279,350
107,131

Deferred taxation
1,090
-

280,440
107,131



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
-
2,644

Accruals and deferred income
33,871
33,648

33,871
36,292


Page 5

 


QUEENSGATE CORPORATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,800 (2023 -2,800) Ordinary shares of £1.00 each
2,800
2,800
650,000 (2023 -650,000) Preference shares of £1.00 each
650,000
650,000

652,800

652,800

The redeemable preference shares are capable of being redeemed at any time at the option of the directors. The company is not obliged to redeem these shares. Upon cancellation the company shall pay the holder the nominal value with no premium to be paid.


8.


Directors transactions


2024
2023
£
£

Outstanding at the start of the year
(103,610)
1,685
Amounts repaid
101,419
60,874
Amounts advanced
(275,000)
(162,635)
Interest charged
(1,661)
(3,534)
Outstanding at the year end
(278,852)
(103,610)

Interest has been charged at a rate of 2.25% per annum, and is repayable on demand.
 
Page 6