BrightAccountsProduction v1.0.0 v1.0.0 2024-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The company's principal activity during the year was to manage and to administer the shared area development described as "Phase II ", Queen Street, King's Lynn. 11 February 2025 0 0 01793252 2024-12-31 01793252 2023-12-31 01793252 2022-12-31 01793252 2024-01-01 2024-12-31 01793252 2023-01-01 2023-12-31 01793252 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01793252 uk-curr:PoundSterling 2024-01-01 2024-12-31 01793252 uk-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01793252 uk-bus:FullAccounts 2024-01-01 2024-12-31 01793252 uk-core:ShareCapital 2024-12-31 01793252 uk-core:ShareCapital 2023-12-31 01793252 uk-core:RevaluationReserve 2024-12-31 01793252 uk-core:RevaluationReserve 2023-12-31 01793252 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 01793252 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 01793252 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 01793252 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 01793252 uk-bus:FRS102 2024-01-01 2024-12-31 01793252 uk-core:WithinOneYear 2024-12-31 01793252 uk-core:WithinOneYear 2023-12-31 01793252 2024-01-01 2024-12-31 01793252 uk-bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 01793252 uk-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
Company Registration Number: 01793252
 
 
Queen Street (Phase II) Management Company Limited(The)
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2024
Queen Street (Phase II) Management Company Limited(The)
Company Registration Number: 01793252
BALANCE SHEET
as at 31 December 2024

2024 2023
Notes £ £
 
Fixed Assets
 
Tangible assets 4 16,500 16,500
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Current Assets
 
Debtors 5 50 -
 
Cash at bank and in hand 1,427 778
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1,477 778
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Creditors: amounts falling due within one year 6 (897) (696)
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Net Current Assets 580 82
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Total Assets less Current Liabilities 17,080 16,582
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Capital and Reserves
 
Called up share capital 8 8
 
Revaluation reserve 16,499 16,499
 
Retained earnings 573 75
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Shareholders' Funds 17,080 16,582
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The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 11 February 2025 and signed on its behalf by
           
           
           
________________________________          
Mr D Savage          
Director          
           



Queen Street (Phase II) Management Company Limited(The)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024

   
1. General Information
 
Queen Street (Phase II) Management Company Limited(The) is a company limited by shares incorporated in the United Kingdom. 36-38 King Street, King's Lynn, Norfolk, PE301ES, England is the registered office. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total subscription value paid during the year.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 20% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
       
3. Employees
 
Other than the directors, the company has no employees.
         
4. Tangible assets
  Land and Plant and Total
  buildings machinery  
  freehold    
  £ £ £
Cost or Valuation
At 1 January 2024 16,500 275 16,775
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At 31 December 2024 16,500 275 16,775
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Depreciation
At 1 January 2024 - 275 275
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At 31 December 2024 - 275 275
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Net book value
At 31 December 2024 16,500 - 16,500
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At 31 December 2023 16,500 - 16,500
  ═════════ ═════════ ═════════
 
Freehold property includes £16,500 at valuation which was undertaken in 1988. The original cost of this asset was £1 and £16,499 has been transferred to a revaluation reserve.
       
5. Debtors 2024 2023
  £ £
 
Trade debtors 50 -
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 20 18
Accruals 877 678
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  897 696
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