IRIS Accounts Production v24.1.9.2 01059304 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010593042022-12-31010593042023-12-31010593042023-01-012023-12-31010593042021-12-31010593042022-01-012022-12-31010593042022-12-3101059304ns15:EnglandWales2023-01-012023-12-3101059304ns14:PoundSterling2023-01-012023-12-3101059304ns10:Director12023-01-012023-12-3101059304ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101059304ns10:SmallEntities2023-01-012023-12-3101059304ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3101059304ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3101059304ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101059304ns10:FullAccounts2023-01-012023-12-3101059304ns10:Director22023-01-012023-12-3101059304ns10:CompanySecretary12023-01-012023-12-3101059304ns10:RegisteredOffice2023-01-012023-12-3101059304ns5:CurrentFinancialInstruments2023-12-3101059304ns5:CurrentFinancialInstruments2022-12-3101059304ns5:ShareCapital2023-12-3101059304ns5:ShareCapital2022-12-3101059304ns5:RetainedEarningsAccumulatedLosses2023-12-3101059304ns5:RetainedEarningsAccumulatedLosses2022-12-3101059304ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3101059304ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 01059304 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Queen Street Chambers
(Sheffield) Limited

Queen Street Chambers
(Sheffield) Limited (Registered number: 01059304)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Queen Street Chambers
(Sheffield) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr J Markham
Mr K J Parkes



SECRETARY: Mr K J Parkes



REGISTERED OFFICE: Queen Street Chambers
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



REGISTERED NUMBER: 01059304 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Lloyds Bank plc
1 High Street
Sheffield
South Yorkshire
S1 2GA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Queen Street Chambers
(Sheffield) Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Queen Street Chambers (Sheffield) Limited for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Queen Street Chambers (Sheffield) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Queen Street Chambers (Sheffield) Limited and state those matters that we have agreed to state to the Board of Directors of Queen Street Chambers (Sheffield) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Queen Street Chambers (Sheffield) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Queen Street Chambers (Sheffield) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Queen Street Chambers (Sheffield) Limited. You consider that Queen Street Chambers (Sheffield) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Queen Street Chambers (Sheffield) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


25 September 2024

Queen Street Chambers
(Sheffield) Limited (Registered number: 01059304)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Investment property 4 650,000 650,000

CURRENT ASSETS
Debtors 5 5,384 4,500
Cash at bank 19,986 9,589
25,370 14,089
CREDITORS
Amounts falling due within one year 6 (57,365 ) (48,206 )
NET CURRENT LIABILITIES (31,995 ) (34,117 )
TOTAL ASSETS LESS CURRENT LIABILITIES 618,005 615,883

PROVISIONS FOR LIABILITIES (32,428 ) (24,645 )
NET ASSETS 585,577 591,238

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 585,377 591,038
585,577 591,238

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.

Queen Street Chambers
(Sheffield) Limited (Registered number: 01059304)

Balance Sheet - continued
31 December 2023


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 25 September 2024 and were signed on its behalf by:





Mr K J Parkes - Director


Queen Street Chambers
(Sheffield) Limited (Registered number: 01059304)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Queen Street Chambers (Sheffield) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuers use observable market prices, adjusted if necessary for any difference in he nature, location or condition of the specific asset. Charges in fair value are recognised in profit or loss.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes 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.

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.

Queen Street Chambers
(Sheffield) Limited (Registered number: 01059304)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Going concern
The directors consider the company to be a going concern.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 650,000
NET BOOK VALUE
At 31 December 2023 650,000
At 31 December 2022 650,000

The investment property class of fixed assets was revalued on 31 December 2012 by Mr K J Parkes, who is internal to the company. The basis of this valuation was open market value. This class of assets has a current value of £650,000 (2022 - £650,000) and a carrying amount at historical cost of £148,621 (2022 - £148,621).

The directors consider that there has not been a material change to this value at 31 December 2023.

There has been no valuation of investment property by an independent valuer.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 4,500 4,500
Other debtors 884 -
5,384 4,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors - 180
Amounts owed to group undertakings 30,489 30,489
Taxation and social security 20,626 13,711
Other creditors 6,250 3,826
57,365 48,206