IRIS Accounts Production v24.2.0.383 05681856 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:kWh056818562022-12-31056818562023-12-31056818562023-01-012023-12-31056818562021-12-31056818562022-01-012022-12-31056818562022-12-3105681856ns15:EnglandWales2023-01-012023-12-3105681856ns14:PoundSterling2023-01-012023-12-3105681856ns10:Director12023-01-012023-12-3105681856ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105681856ns10:SmallEntities2023-01-012023-12-3105681856ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105681856ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105681856ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105681856ns10:FullAccounts2023-01-012023-12-3105681856ns10:Director22023-01-012023-12-3105681856ns10:CompanySecretary12023-01-012023-12-3105681856ns10:RegisteredOffice2023-01-012023-12-3105681856ns5:CurrentFinancialInstruments2023-12-3105681856ns5:CurrentFinancialInstruments2022-12-3105681856ns5:ShareCapital2023-12-3105681856ns5:ShareCapital2022-12-3105681856ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3105681856ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3105681856ns5:RetainedEarningsAccumulatedLosses2023-12-3105681856ns5:RetainedEarningsAccumulatedLosses2022-12-3105681856ns5:PlantMachinery2022-12-3105681856ns5:PlantMachinery2023-01-012023-12-3105681856ns5:PlantMachinery2023-12-3105681856ns5:PlantMachinery2022-12-3105681856ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105681856ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105681856ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-31
REGISTERED NUMBER: 05681856 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PROPERTQ LIMITED

PROPERTQ LIMITED (REGISTERED NUMBER: 05681856)






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


PROPERTQ LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mark Redwood
Sally Ann Redwood





SECRETARY: Taylor Wessing Secretaries Limited





REGISTERED OFFICE: Westdown House
Chinnor Hill
Chinnor
Oxon
OX39 4BB





REGISTERED NUMBER: 05681856 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

PROPERTQ LIMITED (REGISTERED NUMBER: 05681856)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 560 1,641
Investment property 5 360,001 960,001
360,561 961,642

CURRENT ASSETS
Debtors 6 989 5,214
Cash at bank 23,419 7,026
24,408 12,240
CREDITORS
Amounts falling due within one year 7 1,208,648 1,712,124
NET CURRENT LIABILITIES (1,184,240 ) (1,699,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(823,679

)

(738,242

)

PROVISIONS FOR LIABILITIES - 1,813
NET LIABILITIES (823,679 ) (740,055 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 8 - 158,355
Retained earnings (824,679 ) (899,410 )
SHAREHOLDERS' FUNDS (823,679 ) (740,055 )

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.

PROPERTQ LIMITED (REGISTERED NUMBER: 05681856)

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 16 September 2024 and were signed on its behalf by:





Mark Redwood - Director


PROPERTQ LIMITED (REGISTERED NUMBER: 05681856)

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

1. STATUTORY INFORMATION

PropertQ 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 the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced rental income.

Tangible fixed assets
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:

Motor vehicles25% of the reducing balance
Fixtures and fittings25% of the reducing balance
Computer equipment33% on a straight line basis

Investment properties
Investment properties are accounted for in accordance with the provisions of section 16 of FRS 102. They are valued annually by the directors, and from time to time by an independent professional valuer, on a fair value basis. The surplus or deficit on revaluation is transferred to the income statement. Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements 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 and liabilities classified as receivable or payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement. 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.

Pension contributions
Pension contributions are charged to the profit and loss account as and when incurred.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

PROPERTQ LIMITED (REGISTERED NUMBER: 05681856)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 55,749
Disposals (10,683 )
At 31 December 2023 45,066
DEPRECIATION
At 1 January 2023 54,108
Charge for year 1,081
Eliminated on disposal (10,683 )
At 31 December 2023 44,506
NET BOOK VALUE
At 31 December 2023 560
At 31 December 2022 1,641

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 960,001
Disposals (600,000 )
At 31 December 2023 360,001
NET BOOK VALUE
At 31 December 2023 360,001
At 31 December 2022 960,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 2,786
Other debtors 989 2,428
989 5,214

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 456 -
Taxation and social security 1,957 1,982
Other creditors 1,206,235 1,710,142
1,208,648 1,712,124

PROPERTQ LIMITED (REGISTERED NUMBER: 05681856)

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

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023 158,355
Fair value movements (160,000 )
Deferred tax transfer 1,645

At 31 December 2023 -

9. RELATED PARTY DISCLOSURES

During the year the company charged management fees of £56,800 (2022: £48,334) to the Robert Mark Redwood Life Interest Trust for managing its properties. The director Mark Redwood is a trustee of that trust and his children are its beneficiaries.


10. GOING CONCERN

The financial statements have been prepared on a going concern basis which depends on the continuing support of the directors. The directors do not intend to withdraw their support in the foreseeable future, and therefore the going concern basis is reasonable.