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REGISTERED NUMBER: 12166479 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

QIG LIMITED

QIG LIMITED (REGISTERED NUMBER: 12166479)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QIG LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: M Quigley





REGISTERED OFFICE: Windover House
St Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 12166479 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

QIG LIMITED (REGISTERED NUMBER: 12166479)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 109,860 -
Investment property 5 1,640,779 1,870,779
1,750,639 1,870,779

CURRENT ASSETS
Debtors 6 4,633 9,448
Cash at bank 501,322 91,249
505,955 100,697
CREDITORS
Amounts falling due within one year 7 39,552 41,548
NET CURRENT ASSETS 466,403 59,149
TOTAL ASSETS LESS CURRENT LIABILITIES 2,217,042 1,929,928

CREDITORS
Amounts falling due after more than one
year

8

1,990,552

1,732,615
NET ASSETS 226,490 197,313

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 226,390 197,213
SHAREHOLDERS' FUNDS 226,490 197,313

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 director acknowledges his 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.

QIG LIMITED (REGISTERED NUMBER: 12166479)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2025 and were signed by:





M Quigley - Director


QIG LIMITED (REGISTERED NUMBER: 12166479)

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


1. STATUTORY INFORMATION

QIG Limited 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.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebate and value added tax.

Investment property
Investment property is initially recognised at cost, which includes purchase cost and any directly attributable expenditure.

Investment property whose fair value can be measured reliably without undue cost or effort is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


QIG LIMITED (REGISTERED NUMBER: 12166479)

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


2. ACCOUNTING POLICIES - continued
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.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions policy
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 109,860
At 31 August 2024 109,860
NET BOOK VALUE
At 31 August 2024 109,860

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 1,870,779
Disposals (230,000 )
At 31 August 2024 1,640,779
NET BOOK VALUE
At 31 August 2024 1,640,779
At 31 August 2023 1,870,779

QIG LIMITED (REGISTERED NUMBER: 12166479)

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


5. INVESTMENT PROPERTY - continued

The director is of the opinion that the valuation of investment property remains unchanged at 31 August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 4,423
Other debtors 4,633 5,025
4,633 9,448

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 8,280 3,799
Other creditors 11,272 17,749
39,552 41,548

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 745,000 750,000
Other creditors 1,245,552 982,615
1,990,552 1,732,615

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 765,000 770,000

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

QIG LIMITED (REGISTERED NUMBER: 12166479)

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


11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end the director was owed £nil (2023 - £4,760).

12. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Martin Quigley Limited.