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REGISTERED NUMBER: SC497294 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

QBM Property Ltd

QBM Property Ltd (Registered number: SC497294)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QBM Property Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs E Quinn
A Quinn





REGISTERED OFFICE: 6 Edenhall Grove
Newton Mearns
GLASGOW
G77 5TS





REGISTERED NUMBER: SC497294 (Scotland)





ACCOUNTANTS: The Kelvin Partnership Ltd
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

QBM Property Ltd (Registered number: SC497294)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 269 459
Investment property 5 435,593 435,593
435,862 436,052

CURRENT ASSETS
Debtors 6 52,633 35,613
Cash at bank 3,029 17,915
55,662 53,528
CREDITORS
Amounts falling due within one year 7 142,505 221,367
NET CURRENT LIABILITIES (86,843 ) (167,839 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

349,019

268,213

CREDITORS
Amounts falling due after more than one
year

8

(324,471

)

(234,646

)

PROVISIONS FOR LIABILITIES (6,242 ) (6,242 )
NET ASSETS 18,306 27,325

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 18,106 27,125
18,306 27,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

QBM Property Ltd (Registered number: SC497294)

Balance Sheet - continued
31 March 2024


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 18 November 2024 and were signed on its behalf by:





A Quinn - Director


QBM Property Ltd (Registered number: SC497294)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

QBM Property Ltd is a private company, limited by shares , registered in Scotland. 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

QBM Property Ltd (Registered number: SC497294)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 1,812
DEPRECIATION
At 1 April 2023 1,353
Charge for year 190
At 31 March 2024 1,543
NET BOOK VALUE
At 31 March 2024 269
At 31 March 2023 459

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 435,593
NET BOOK VALUE
At 31 March 2024 435,593
At 31 March 2023 435,593

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,049 1,582
Other debtors 51,584 34,031
52,633 35,613

QBM Property Ltd (Registered number: SC497294)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 336 43
Taxation and social security - 1,999
Other creditors 142,169 219,325
142,505 221,367

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 324,471 234,646