Registered number
13060353
Q Shvel Investments Ltd
Filleted Accounts
31 December 2023
Q Shvel Investments Ltd
Registered number: 13060353
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,040,000 770,657
Current assets
Debtors 4 6,575 105
Cash at bank and in hand 15,516 64,301
22,091 64,406
Creditors: amounts falling due within one year 5 (8,340) (5,389)
Net current assets 13,751 59,017
Total assets less current liabilities 1,053,751 829,674
Creditors: amounts falling due after more than one year 6 (721,601) (798,076)
Net assets 332,150 31,598
Capital and reserves
Called up share capital 6 6
Revaluation reserve 8 269,343 -
Profit and loss account 62,801 31,592
Shareholders' funds 332,150 31,598
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Ahmed
Director
Approved by the board on 24 September 2024
Q Shvel Investments Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
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).
Turnover
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Cost plus revaluation
Leasehold land and buildings over the lease term
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 770,657
Surplus on revaluation 269,343
At 31 December 2023 1,040,000
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 1,040,000
At 31 December 2022 770,657
4 Debtors 2023 2022
£ £
Trade debtors 6,575 105
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 8,340 5,389
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 509,272 509,272
Other creditors 212,329 288,804
721,601 798,076
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 509,272 509,272
Bank loans have no repayment terms requiring payments other than interest within five years. The company has provided security for the bank loans by way of charges on properties held.
8 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 269,343 -
At 31 December 2023 269,343 -
9 Related party transactions
Included in sales is an amount of £7,800 (2022:£7,800) received from G Ahmed (director) for the rental of one of the properties. Included in other creditors is an amount of £7,000 (2022:£22,000) due to Grant Grierson Accounting Services Ltd. The company is controlled by G Ahmed (director). The loan is unsecure and Interest free.
10 Controlling party
The controlling party is G Ahmed (director) by virtue of his ownership of 100% of the issued share capital.
11 Other information
Q Shvel Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
63 Kelverlow Street
Oldham
United Kingdom
OL4 1LX
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