1 May 2023 false No description of principal activity Taxfiler 2024.6 11316621business:PrivateLimitedCompanyLtd2023-05-012024-04-30 113166212023-04-30 113166212023-05-012024-04-30 11316621business:AuditExemptWithAccountantsReport2023-05-012024-04-30 11316621business:FilletedAccounts2023-05-012024-04-30 113166212024-04-30 113166212023-04-30 11316621core:WithinOneYear2024-04-30 11316621core:WithinOneYear2023-04-30 11316621core:AfterOneYear2024-04-30 11316621core:AfterOneYear2023-04-30 11316621core:ShareCapitalcore:PreviouslyStatedAmount2024-04-30 11316621core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 11316621core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-04-30 11316621core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 11316621core:PreviouslyStatedAmount2024-04-30 11316621core:PreviouslyStatedAmount2023-04-30 11316621business:SmallEntities2023-05-012024-04-30 11316621business:Director22023-05-012024-04-30 11316621countries:EnglandWales2023-05-012024-04-30 11316621business:RegisteredOffice2023-05-012024-04-30 11316621core:PlantMachinery2023-05-012024-04-30 11316621core:MotorVehicles2023-05-012024-04-30 11316621core:PlantMachinery2023-04-30 11316621core:MotorVehicles2023-04-30 11316621core:PlantMachinery2024-04-30 11316621core:MotorVehicles2024-04-30 113166212022-05-012023-04-30 iso4217:GBP xbrli:pure
Company Registration No. 11316621 (England and Wales)
Quintessential Property Ltd Unaudited accounts for the year ended 30 April 2024
Quintessential Property Ltd Unaudited accounts Contents
Page
- 2 -
Quintessential Property Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
43,554 
3,125 
Investment property
420,793 
420,793 
464,347 
423,918 
Current assets
Debtors
28,397 
31,278 
Cash at bank and in hand
3,094 
3,308 
31,491 
34,586 
Creditors: amounts falling due within one year
(347,713)
(309,919)
Net current liabilities
(316,222)
(275,333)
Total assets less current liabilities
148,125 
148,585 
Creditors: amounts falling due after more than one year
(145,531)
(145,525)
Net assets
2,594 
3,060 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
2,394 
2,860 
Shareholders' funds
2,594 
3,060 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2025 and were signed on its behalf by
Leanne Silverwood Director Company Registration No. 11316621
- 3 -
Quintessential Property Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Quintessential Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 11316621. The registered office is 47 Upper Basinghall Street, Leeds, West Yorkshire, LS1 5HR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Reducing Balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 4 -
Quintessential Property Ltd Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
6,249 
- 
6,249 
Additions
- 
47,990 
47,990 
At 30 April 2024
6,249 
47,990 
54,239 
Depreciation
At 1 May 2023
3,124 
- 
3,124 
Charge for the year
1,562 
5,999 
7,561 
At 30 April 2024
4,686 
5,999 
10,685 
Net book value
At 30 April 2024
1,563 
41,991 
43,554 
At 30 April 2023
3,125 
- 
3,125 
5
Investment property
2024 
£ 
Fair value at 1 May 2023
420,793 
At 30 April 2024
420,793 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
20,302 
17,994 
Deferred tax asset
8,095 
8,095 
Accrued income and prepayments
- 
5,189 
28,397 
31,278 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
1,398 
Taxes and social security
- 
174 
Other creditors
341,547 
308,347 
Deferred income
6,166 
- 
347,713 
309,919 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
145,531 
145,525 
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
- 5 -