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REGISTERED NUMBER: 00779274 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

QUERCUS ENTERPRISES LIMITED

QUERCUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00779274)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUERCUS ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T D Sarin BA FCCA
Miss Natasha Sarin





REGISTERED OFFICE: Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW





REGISTERED NUMBER: 00779274 (England and Wales)





ACCOUNTANTS: GBJ Financial Limited
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

QUERCUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00779274)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 26,051 44,048
Investments 5 11,500 11,500
Investment property 6 12,035,500 14,995,500
12,073,051 15,051,048

CURRENT ASSETS
Debtors 7 310,457 151,481
Cash at bank 1,897,628 1,697,532
2,208,085 1,849,013
CREDITORS
Amounts falling due within one year 8 803,928 858,079
NET CURRENT ASSETS 1,404,157 990,934
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,477,208

16,041,982

CREDITORS
Amounts falling due after more than one
year

9

(2,820,360

)

(6,063,323

)

PROVISIONS FOR LIABILITIES (123,555 ) (85,313 )
NET ASSETS 10,533,293 9,893,346

QUERCUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00779274)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
CAPITAL AND RESERVES
Called up share capital 10 200 200
Revaluation reserve 11 1,724,591 2,072,000
Retained earnings 8,808,502 7,821,146
SHAREHOLDERS' FUNDS 10,533,293 9,893,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





T D Sarin BA FCCA - Director


QUERCUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00779274)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Quercus Enterprises 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 represents rental income net of VAT and discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant & machinery 15% ~ 33.33% Straight Line
Motor vehicle 20% Straight Line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 year 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.

Investments
Fixed asset investments are measured at fair value. Changes in fair value are recognised in profit or loss.

QUERCUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00779274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Revenue recognition
Rental income represents rents due for the period, calculated on an accruals basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023 111,370
Additions 4,452
At 31 December 2023 115,822
DEPRECIATION
At 1 January 2023 67,322
Charge for year 22,449
At 31 December 2023 89,771
NET BOOK VALUE
At 31 December 2023 26,051
At 31 December 2022 44,048

5. FIXED ASSET INVESTMENTS
Other
investments
£
COST OR VALUATION
At 1 January 2023
and 31 December 2023 11,500
NET BOOK VALUE
At 31 December 2023 11,500
At 31 December 2022 11,500

QUERCUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00779274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£
Cost 11,500

The directors consider the current market value of other investments to be £11,500.

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2023 14,995,500
Disposals (2,960,000 )
At 31 December 2023 12,035,500
NET BOOK VALUE
At 31 December 2023 12,035,500
At 31 December 2022 14,995,500

In 2018 a professional valuation of investment properties was carried out by an independent firm of commercial property consultants, on a market value basis in accordance with the RICS Valuation, Global Standards 2017. The directors consider the current market value to be £12,230,500. No depreciation is provided in respect of these properties.

The historical cost of the investment properties is £10,187,353 (2022: £12,838,186).

A provision has been made for deferred tax on gains on revaluing properties to their fair value. The total amount provided is £123,555

Fair value at 31 December 2023 is represented by:
£
Valuation in 2014 1,450,800
Valuation in 2015 (60,000 )
Valuation in 2018 778,827
Valuation in 2022 (12,313 )
Valuation in 2023 (309,167 )
Cost 10,187,353
12,035,500

QUERCUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00779274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 310,457 151,481

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 210,000 210,000
Taxation and social security 375,964 140,210
Other creditors 217,964 507,869
803,928 858,079

Bank borrowings are secured by an unlimited debenture and a first legal charge over the freehold properties of the company.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 2,820,360 6,063,323

Bank borrowings are secured by an unlimited debenture and a first legal charge over the freehold properties of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
200 Ordinary shares £1 200 200

11. RESERVES
Revaluation
reserve
£
At 1 January 2023 2,072,000
Deferred tax rate change (38,242 )
Revaluation on disposal (309,167 )

At 31 December 2023 1,724,591