2022-12-012023-11-302023-11-30false12337457LQ PROPERTIES 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LQ PROPERTIES LIMITED

Registered Number
12337457
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

LQ PROPERTIES LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

HAN, Yunzhen
SU, Chaoqiang

Registered Address

35 Pond Street
London
NW3 2PN

Registered Number

12337457 (England and Wales)
LQ PROPERTIES LIMITED
Statement of Financial Position
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property37,222,1827,222,182
7,222,1827,222,182
Current assets
Debtors26,85618,052
Cash at bank and on hand1,113,552845,547
1,140,408863,599
Creditors amounts falling due within one year4(63,386)(80,001)
Net current assets (liabilities)1,077,022783,598
Total assets less current liabilities8,299,2048,005,780
Creditors amounts falling due after one year5(8,376,038)(8,043,873)
Net assets(76,834)(38,093)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(77,834)(39,093)
Shareholders' funds(76,834)(38,093)
The financial statements were approved and authorised for issue by the Board of Directors on 27 November 2024, and are signed on its behalf by:
HAN, Yunzhen
Director
SU, Chaoqiang
Director

Registered Company No. 12337457
LQ PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A, as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared assuming the company will continue as a going concern. At the year end, the company had net liabilities of £41,694 and profit before taxation of £39,444. However, the directors consider that the company has adequate resources available in order to continue in operational existence for the foreseeable future based on the continuing support from its shareholders. The financial statements do not include the adjustments that would result if the company would be unable to continue in operation.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investment property
Investment properties are properties held to earn rentals or for capital appreciation, or both, and are accounted for using the fair value model. Investment properties are revalued annually with resulting gains and losses recognised in profit or loss. These are included in the statement of financial position at their fair values.
2.Average number of employees

20232022
Average number of employees during the year00
3.Investment property

£
Fair value at 01 December 227,222,182
At 30 November 237,222,182
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables16,85329,066
Other creditors6,294-
Accrued liabilities and deferred income40,23950,935
Total63,38680,001
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.
5.Creditors: amounts due after one year

2023

2022

££
Trade creditors / trade payables7,857-
Bank borrowings and overdrafts4,809,4494,371,608
Other creditors3,558,7323,672,265
Total8,376,0388,043,873