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REGISTERED NUMBER: NI670690 (Northern Ireland)















VQ PROPERTY LTD

Unaudited Financial Statements for the Year Ended 31 July 2024






VQ PROPERTY LTD (REGISTERED NUMBER: NI670690)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


VQ PROPERTY LTD

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Vincent Quinn
Aidan Quinn





REGISTERED OFFICE: 75b Orchard Road
Strabane
Co. Tyrone
BT82 9QT





REGISTERED NUMBER: NI670690 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

VQ PROPERTY LTD (REGISTERED NUMBER: NI670690)

Statement of Financial Position
31 JULY 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 5,742 6,755
Investment property 6 108,188 108,188
113,930 114,943

CURRENT ASSETS
Receivables: amounts falling due within one year 7 4,640 4,640
Cash at bank 39,487 32,856
44,127 37,496
PAYABLES
Amounts falling due within one year 8 (132,365 ) (132,457 )
NET CURRENT LIABILITIES (88,238 ) (94,961 )
TOTAL ASSETS LESS CURRENT LIABILITIES 25,692 19,982

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 25,592 19,882
25,692 19,982

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 July 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 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 25 October 2024 and were signed on its behalf by:





Vincent Quinn - Director


VQ PROPERTY LTD (REGISTERED NUMBER: NI670690)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

VQ Property Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% reducing balance

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Share capital
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£
COST
At 1 August 2023
and 31 July 2024 11,000
DEPRECIATION
At 1 August 2023 4,245
Charge for year 1,013
At 31 July 2024 5,258
NET BOOK VALUE
At 31 July 2024 5,742
At 31 July 2023 6,755

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 August 2023
and 31 July 2024 108,188
NET BOOK VALUE
At 31 July 2024 108,188
At 31 July 2023 108,188

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 4,640 4,640

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed to group undertakings 130,000 130,000
Taxation and social security 1,577 1,707
Other payables 788 750
132,365 132,457