Company Registration No. 13080479 (England and Wales)
QUAYS TO CASTLES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
QUAYS TO CASTLES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
QUAYS TO CASTLES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,193,503
1,221,831
Current assets
Debtors
4
17,459
Cash at bank and in hand
15,715
28,159
15,715
45,618
Creditors: amounts falling due within one year
5
(644,077)
(726,556)
Net current liabilities
(628,362)
(680,938)
Total assets less current liabilities
565,141
540,893
Creditors: amounts falling due after more than one year
6
(592,075)
(580,073)
Net liabilities
(26,934)
(39,180)
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
(26,938)
(39,184)
Total equity
(26,934)
(39,180)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
Mrs S Winfield
Director
Company registration number 13080479 (England and Wales)
QUAYS TO CASTLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Quays to Castles Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15 Queen's Drive, Colwyn Bay, Conwy, LL29 7BH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
1% straight line
Plant and machinery
20% reducing balance
Fixtures and fittings
10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
QUAYS TO CASTLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
1,037,057
218,267
1,255,324
Additions
2,882
2,882
At 31 December 2023
1,037,057
221,149
1,258,206
Depreciation and impairment
At 1 January 2023
10,371
23,122
33,493
Depreciation charged in the year
10,371
20,839
31,210
At 31 December 2023
20,742
43,961
64,703
Carrying amount
At 31 December 2023
1,016,315
177,188
1,193,503
At 31 December 2022
1,026,686
195,145
1,221,831
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
17,459
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
486,662
536,957
Taxation and social security
4,380
Other creditors
153,035
189,599
644,077
726,556
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
592,075
580,073
QUAYS TO CASTLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4
4
4
4
8
Parent company
Quays to Castles Limited is a subsidiary of GCMS Properties Limited, who owns 75% of the ordinary share capital. The registered office address of the parent company is International House, 10 Churchill Way, Cardiff, Wales, CF10 2HE.