Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr D A Freeman 18/02/2023 Mrs M S Seaward 07/02/2025 18/02/2023 10 April 2025 The principal activity of the Company during the financial period was rental of investment property. 14672307 2024-12-31 14672307 bus:Director1 2024-12-31 14672307 bus:Director2 2024-12-31 14672307 2023-12-31 14672307 core:CurrentFinancialInstruments 2024-12-31 14672307 core:CurrentFinancialInstruments 2023-12-31 14672307 core:Non-currentFinancialInstruments 2024-12-31 14672307 core:Non-currentFinancialInstruments 2023-12-31 14672307 core:ShareCapital 2024-12-31 14672307 core:ShareCapital 2023-12-31 14672307 core:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 14672307 core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 14672307 core:RetainedEarningsAccumulatedLosses 2024-12-31 14672307 core:RetainedEarningsAccumulatedLosses 2023-12-31 14672307 bus:OrdinaryShareClass1 2024-12-31 14672307 bus:OrdinaryShareClass2 2024-12-31 14672307 2024-01-01 2024-12-31 14672307 bus:FilletedAccounts 2024-01-01 2024-12-31 14672307 bus:SmallEntities 2024-01-01 2024-12-31 14672307 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 14672307 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14672307 bus:Director1 2024-01-01 2024-12-31 14672307 bus:Director2 2024-01-01 2024-12-31 14672307 2023-02-18 2023-12-31 14672307 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 14672307 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 14672307 bus:OrdinaryShareClass1 2023-02-18 2023-12-31 14672307 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 14672307 bus:OrdinaryShareClass2 2023-02-18 2023-12-31 14672307 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14672307 (England and Wales)

TQR PROPERTIES EXETER LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

TQR PROPERTIES EXETER LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

TQR PROPERTIES EXETER LIMITED

BALANCE SHEET

As at 31 December 2024
TQR PROPERTIES EXETER LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 31.12.2023
£ £
Fixed assets
Investment property 3 420,000 450,954
420,000 450,954
Current assets
Debtors 4 1,975 2,406
Cash at bank and in hand 2,193 1,682
4,168 4,088
Creditors: amounts falling due within one year 5 ( 170,664) ( 165,772)
Net current liabilities (166,496) (161,684)
Total assets less current liabilities 253,504 289,270
Creditors: amounts falling due after more than one year 6 ( 284,255) ( 295,517)
Net liabilities ( 30,751) ( 6,247)
Capital and reserves
Called-up share capital 7 100 100
Fair value reserve ( 30,954 ) 0
Profit and loss account 103 ( 6,347 )
Total shareholder's deficit ( 30,751) ( 6,247)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of TQR Properties Exeter Limited (registered number: 14672307) were approved and authorised for issue by the Director on 10 April 2025. They were signed on its behalf by:

Mr D A Freeman
Director
TQR PROPERTIES EXETER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
TQR PROPERTIES EXETER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

TQR Properties Exeter Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom. The principal place of business is Unit 8 Silverdown Office Park, Exeter, EX5 2UL.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

Year ended
31.12.2024
Period from
18.02.2023 to
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 450,954
Fair value movement (30,954)
As at 31 December 2024 420,000

The investment property has not been valued by an external party.

4. Debtors

31.12.2024 31.12.2023
£ £
Trade debtors 889 1,366
Other debtors 1,086 1,040
1,975 2,406

5. Creditors: amounts falling due within one year

31.12.2024 31.12.2023
£ £
Bank loans 10,713 10,163
Trade creditors 53 330
Amounts owed to Group undertakings 154,866 150,814
Taxation and social security 2,310 2,415
Other creditors 2,722 2,050
170,664 165,772

6. Creditors: amounts falling due after more than one year

31.12.2024 31.12.2023
£ £
Bank loans (secured) 284,255 295,517

The loans are secured against the property in which they relate.

7. Called-up share capital

31.12.2024 31.12.2023
£ £
Allotted, called-up and fully-paid
50 Ordinary A shares of £ 1.00 each 50 50
50 Ordinary B shares of £ 1.00 each 50 50
100 100

8. Related party transactions

Transactions with owners holding a participating interest in the entity

31.12.2024 31.12.2023
£ £
TQR Plymouth Ltd 87,390 84,614

On 7 February 2025, 50 Ordinary B shares were transferred from TQR Exeter Ltd to TQR Plymouth Ltd.

Transactions with entities in which the entity itself has a participating interest

31.12.2024 31.12.2023
£ £
TQR Exeter Ltd 67,476 66,200

9. Ultimate controlling party

Parent Company:

TQR Plymouth Limited
9 The Crescent, Plymouth, Devon, PL1 3AB

The accounts for the parent company can be found at Companies House Crown Way, Cardiff, CF14 3UZ