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REGISTERED NUMBER: 10851721 (England and Wales)















1ST QUALITY GROUP LTD

REPORT OF THE DIRECTORS AND

UNAUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Report of the Directors 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 7


1ST QUALITY GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr P Pastou
Mrs A Pastou





SECRETARY:





REGISTERED OFFICE: Unit 9, Netherhouse Farm
Sewardstone Road
Chingford
London
E4 7RJ





REGISTERED NUMBER: 10851721 (England and Wales)





ACCOUNTANTS: T. PA Accountancy Services Limited
Hale House
Unit 5
296a Green Lanes
Palmers Green
London
N13 5TW

1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of group investment activities.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

Mr P Pastou
Mrs A Pastou

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr P Pastou - Director


12 November 2024

1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

Year Ended Period
31.8.24 1.8.22 to 31.8.23
£    £    £    £   

TURNOVER 211,749 182,736

Distribution costs 423 -
Administrative expenses 42,303 19,931
42,726 19,931
OPERATING PROFIT 169,023 162,805

Interest receivable and similar income 499 -
169,522 162,805

Interest payable and similar expenses 96,907 100,718
PROFIT BEFORE TAXATION 72,615 62,087

Tax on profit 15,461 11,543
PROFIT FOR THE FINANCIAL YEAR 57,154 50,544

Profit attributable to:
Owners of the parent 57,154 50,544

1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

CONSOLIDATED BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 5 - -
Investment property 6 2,728,921 2,728,921
2,728,921 2,728,921

CURRENT ASSETS
Debtors 7 121,364 115,114
Investments 8 228,744 -
Cash at bank and in hand 66,659 21,888
416,767 137,002
CREDITORS
Amounts falling due within one year 9 65,739 150,918
NET CURRENT ASSETS/(LIABILITIES) 351,028 (13,916 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,079,949

2,715,005

CREDITORS
Amounts falling due after more than one year 10 1,595,711 1,287,921
NET ASSETS 1,484,238 1,427,084

CAPITAL AND RESERVES
Called up share capital 11 300 300
Retained earnings 12 1,483,938 1,426,784
SHAREHOLDERS' FUNDS 1,484,238 1,427,084

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

CONSOLIDATED BALANCE SHEET - continued
31 AUGUST 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





Mr P Pastou - Director


1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

COMPANY BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Cash in hand 100 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

100

100

CAPITAL AND RESERVES
Called up share capital 11 100 100
SHAREHOLDERS' FUNDS 100 100

Company's profit for the financial year - -

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

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





Mr P Pastou - Director


1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

1st Quality Group 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 General 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.

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 Consolidated 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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. EMPLOYEES AND DIRECTORS - continued

The average number of employees by undertakings that were proportionately consolidated during the year was 1 (2023 - 1 ) .

4. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


5. FIXED ASSET INVESTMENTS

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

1st Quality Residential Investments Limited
Registered office: Unit 9, Netherhouse Farm, Sewardstone Road, London E4 7RJ
Nature of business: Property Investment
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 3,333 2,987
Profit for the year/period 427 4,900

1st Quality Investments Limited
Registered office: Unit 9, Netherhouse Farm, Sewardstone Road, London E4 7RJ
Nature of business: Property Investment
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,480,705 1,427,206
Profit for the year/period 72,188 57,187


1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 2,728,921
NET BOOK VALUE
At 31 August 2024 2,728,921
At 31 August 2023 2,728,921

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Amounts owed by associates 116,900 110,650
Prepayments 4,464 4,464
121,364 115,114

8. CURRENT ASSET INVESTMENTS

Group
2024 2023
£    £   
Unlisted investments 228,744 -

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Other loans 10,175 10,000
Trade creditors - 1
Amounts owed to associates 30,425 21,250
Corporation tax payable 15,461 11,543
Social security and other taxes 43 -
VAT - 13,000
Directors' current accounts 7,835 93,324
Accrued expenses 1,800 1,800
65,739 150,918

1ST QUALITY GROUP LTD (REGISTERED NUMBER: 10851721)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Bank loans more 5 yr by instal 1,595,711 1,287,921

Amounts falling due in more than five years:

Group
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 1,595,711 1,287,921

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 300 300

12. RESERVES

Group
Retained
earnings
£   

At 1 September 2023 1,426,784
Profit for the year 57,154
At 31 August 2024 1,483,938