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REGISTERED NUMBER: 10314793 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

QEWC Property Ltd

QEWC Property Ltd (Registered number: 10314793)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QEWC Property Ltd

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: Miss Natalie Margaret Fletcher
Mr Roger Tim Chadwick





SECRETARY:





REGISTERED OFFICE: Bryn Tirion Hall
Mold Road
Caergwrle
Wrexham
LL12 9HA





REGISTERED NUMBER: 10314793 (England and Wales)





ACCOUNTANTS: RMD Accountancy Solutions Ltd
58 Pen Y Bryn
Wrexham
LL13 7HY

QEWC Property Ltd (Registered number: 10314793)

BALANCE SHEET
31 May 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 554,000 -
Investment property 5 1,145,000 1,725,000
1,699,000 1,725,000

CURRENT ASSETS
Cash at bank 12,673 11,424

CREDITORS
Amounts falling due within one year 6 102,563 88,853
NET CURRENT LIABILITIES (89,890 ) (77,429 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,609,110

1,647,571

CREDITORS
Amounts falling due after more than one
year

7

(1,176,050

)

(605,220

)

PROVISIONS FOR LIABILITIES (46,233 ) (213,089 )
NET ASSETS 386,827 829,262

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 386,327 828,762
SHAREHOLDERS' FUNDS 386,827 829,262

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

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

QEWC Property Ltd (Registered number: 10314793)

BALANCE SHEET - continued
31 May 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 20 February 2025 and were signed on its behalf by:





Miss Natalie Margaret Fletcher - Director


QEWC Property Ltd (Registered number: 10314793)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

QEWC Property Ltd 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 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
loans
£   
New in year 554,000
At 31 May 2024 554,000

QEWC Property Ltd (Registered number: 10314793)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,725,000
Additions 670,000
Disposals (1,250,000 )
At 31 May 2024 1,145,000
NET BOOK VALUE
At 31 May 2024 1,145,000
At 31 May 2023 1,725,000

Included in fair value of investment property is freehold land of £ 1,725,000 (2023 - £ 1,725,000 ) which is not depreciated.

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2020 290,066
Valuation in 2021 69,934
Valuation in 2023 1,365,000
Valuation in 2024 (580,000 )
1,145,000

If investment property had not been revalued it would have been included at the following historical cost:

31/5/24 31/5/23
£    £   
Cost 961,175 961,175

Investment property was valued on an open market basis on 31 May 2023 by a professional valuation .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade creditors - 22
Amounts owed to group undertakings 57,700 -
Taxation and social security 20,736 10,981
Other creditors 24,127 77,850
102,563 88,853

QEWC Property Ltd (Registered number: 10314793)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
£    £   
Bank loans - 557,818
Amounts owed to group undertakings 1,073,012 -
Other creditors 103,038 47,402
1,176,050 605,220

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 557,818

8. OTHER FINANCIAL COMMITMENTS

An alternative loan arrangement has been entered into in July 2017 with the Shareholders for the purpose of the company purchasing a property.

Regular monthly repayments will be made over the course of the loan.

9. RELATED PARTY DISCLOSURES

The Directors and Shareholders have advanced a loan to the company for the purchase of a property and will receive annual interest at a rate of 3.5 %.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is not known.

The Directors all have equal shares in the company and are jointly responsible for all decisions.