Qualified Real Estate Ltd 06030790 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to hold real estate property in Italy of which it receives rental income from the rent of this property Digita Accounts Production Advanced 6.30.9574.0 true true 06030790 2023-01-01 2023-12-31 06030790 2023-12-31 06030790 bus:OrdinaryShareClass1 2023-12-31 06030790 bus:OrdinaryShareClass2 2023-12-31 06030790 core:RetainedEarningsAccumulatedLosses 2023-12-31 06030790 core:ShareCapital 2023-12-31 06030790 core:SharePremium 2023-12-31 06030790 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 06030790 bus:SmallEntities 2023-01-01 2023-12-31 06030790 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06030790 bus:AbridgedAccounts 2023-01-01 2023-12-31 06030790 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06030790 bus:RegisteredOffice 2023-01-01 2023-12-31 06030790 bus:Director1 2023-01-01 2023-12-31 06030790 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06030790 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 06030790 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06030790 core:LandBuildings 2023-01-01 2023-12-31 06030790 countries:AllCountries 2023-01-01 2023-12-31 06030790 2022-01-01 2022-12-31 06030790 2022-12-31 06030790 bus:OrdinaryShareClass1 2022-12-31 06030790 bus:OrdinaryShareClass2 2022-12-31 06030790 core:RetainedEarningsAccumulatedLosses 2022-12-31 06030790 core:ShareCapital 2022-12-31 06030790 core:SharePremium 2022-12-31 06030790 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06030790

Qualified Real Estate Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Qualified Real Estate Ltd

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 4

 

Qualified Real Estate Ltd

(Registration number: 06030790)
Abridged Balance Sheet as at 31 December 2023

Note

2023

2022

Current assets

 

Cash at bank and in hand

 

579

1,332

Creditors: Amounts falling due after more than one year

(281,239)

(272,739)

Net liabilities

 

(280,660)

(271,407)

Capital and reserves

 

Called up share capital

5

100,003

100,003

Share premium reserve

2,797

2,797

Retained earnings

(383,460)

(374,207)

Shareholders' deficit

 

(280,660)

(271,407)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2024
 

.........................................
Ms F Terenzini
Director

   
     
 

Qualified Real Estate Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
London
W1G 9DQ

These financial statements were authorised for issue by the director on 30 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the net current asset deficiency on the basis that the company will be supported, financially, by the shareholders to enable the company to meet its financial obligations as and when they fall due.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Qualified Real Estate Ltd

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

Asset class

Depreciation method and rate

Freehold property

1% straight line method

Investment property

Investment property are stated at cost since the market valuations as at the year end are not available.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors,loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
 Recognition and measurement
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in Profit or Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Debtors

Debtors includes €Nil (2022 - €Nil) due after more than one year.

 

Qualified Real Estate Ltd

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

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

No.

Share Capital of €1 each

100,000

100,000

100,000

100,000

Share Capital of €1.50 each

2

3

2

3

 

100,002

100,003

100,002

100,003