Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr J D Hodgkinson 18/02/2021 Mr R J Hodgkinson 18/02/2021 16 August 2024 The principal activity of the company from the start of trade on 1 April 2021 was that of investment property lettings. 13210091 2024-03-31 13210091 bus:Director1 2024-03-31 13210091 bus:Director2 2024-03-31 13210091 2023-03-31 13210091 core:CurrentFinancialInstruments 2024-03-31 13210091 core:CurrentFinancialInstruments 2023-03-31 13210091 core:Non-currentFinancialInstruments 2024-03-31 13210091 core:Non-currentFinancialInstruments 2023-03-31 13210091 core:ShareCapital 2024-03-31 13210091 core:ShareCapital 2023-03-31 13210091 core:RetainedEarningsAccumulatedLosses 2024-03-31 13210091 core:RetainedEarningsAccumulatedLosses 2023-03-31 13210091 core:InvestmentPropertyIncludedWithinPPE 2023-03-31 13210091 core:InvestmentPropertyIncludedWithinPPE 2024-03-31 13210091 2023-04-01 2024-03-31 13210091 bus:FilletedAccounts 2023-04-01 2024-03-31 13210091 bus:SmallEntities 2023-04-01 2024-03-31 13210091 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13210091 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13210091 bus:Director1 2023-04-01 2024-03-31 13210091 bus:Director2 2023-04-01 2024-03-31 13210091 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 13210091 (England and Wales)

QU4RTERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

QU4RTERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

QU4RTERS LIMITED

BALANCE SHEET

As at 31 March 2024
QU4RTERS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 478,893 478,893
478,893 478,893
Current assets
Debtors 4 2,006 0
Cash at bank and in hand 54,567 55,537
56,573 55,537
Creditors: amounts falling due within one year 5 ( 1,964) ( 4,912)
Net current assets 54,609 50,625
Total assets less current liabilities 533,502 529,518
Creditors: amounts falling due after more than one year 6 ( 497,384) ( 497,384)
Net assets 36,118 32,134
Capital and reserves
Called-up share capital 100 100
Profit and loss account 36,018 32,034
Total shareholders' funds 36,118 32,134

For the financial 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.

Directors' responsibilities:

The financial statements of Qu4rters Limited (registered number: 13210091) were approved and authorised for issue by the Board of Directors on 16 August 2024. They were signed on its behalf by:

Mr J D Hodgkinson
Director
QU4RTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
QU4RTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Qu4rters Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is St Johns Court, 76 Gartside Street, Manchester, M3 3EL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the rents received or receivable for the rental properties the company owns.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Total
£ £
Cost
At 01 April 2023 478,893 478,893
At 31 March 2024 478,893 478,893
Accumulated depreciation
At 01 April 2023 0 0
At 31 March 2024 0 0
Net book value
At 31 March 2024 478,893 478,893
At 31 March 2023 478,893 478,893

Investment properties comprise of five residential properties acquired in the prior year.
The fair value of the investment properties has been arrived at on the basis of the original cost of acquisition (including stamp duty and legal fees).
The directors consider the valuations of all the properties have not dramatically changed from the original costs of acquisition as at 31 March 2024.

4. Debtors

2024 2023
£ £
Trade debtors 775 0
Other debtors 1,231 0
2,006 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 934 3,952
Other creditors 1,030 960
1,964 4,912

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 497,384 497,384