Company registration number 12335080 (England and Wales)
Q H (London Colney) Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Pages For Filing With Registrar
Pinnick Lewis LLP
Chartered Certified Accountants
Handel House
95 High Street
Edgware
HA8 7DB
Q H (London Colney) Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Q H (London Colney) Limited
BALANCE SHEET
As At 31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
216,052
190,447
Current assets
Debtors
4
2,848,827
2,218,877
Cash at bank and in hand
94,629
242,500
2,943,456
2,461,377
Creditors: amounts falling due within one year
5
(3,286,422)
(2,791,939)
Net current liabilities
(342,966)
(330,562)
Total assets less current liabilities
(126,914)
(140,115)
Creditors: amounts falling due after more than one year
6
(67,139)
(72,576)
Net liabilities
(194,053)
(212,691)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(194,153)
(212,791)
Total equity
(194,053)
(212,691)
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 May 2025 and are signed on its behalf by:
Mr N Herbert
Director
Company registration number 12335080 (England and Wales)
Q H (London Colney) Limited
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2024
- 2 -
1
Accounting policies
Company information
Q H (London Colney) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Handel House, 95 High Street, Edgware, HA8 7DB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% Straight line
Motor vehicles
20% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Q H (London Colney) Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 31 August 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
9
Q H (London Colney) Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 31 August 2024
- 4 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 September 2023
57,537
210,951
268,488
Additions
63,461
30,750
94,211
Disposals
(21,368)
(21,368)
At 31 August 2024
120,998
220,333
341,331
Depreciation and impairment
At 1 September 2023
11,710
66,331
78,041
Depreciation charged in the year
17,043
39,454
56,497
Eliminated in respect of disposals
(9,259)
(9,259)
At 31 August 2024
28,753
96,526
125,279
Carrying amount
At 31 August 2024
92,245
123,807
216,052
At 31 August 2023
45,827
144,620
190,447
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,848,827
2,218,877
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
46,108
32,100
Trade creditors
399,580
299,205
Taxation and social security
25,172
13,911
Other creditors
2,791,826
2,424,987
Accruals and deferred income
23,736
21,736
3,286,422
2,791,939
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
67,139
72,576
Q H (London Colney) Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 31 August 2024
- 5 -
7
Related party transactions
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Herbert Developments Limited
1,320,474
1,095,274
Nick Herbert Limited
15,566
Nuland Building Limited
253,359
27,921
Nuland Property Limited
1,014,500
1,194,500
QH (Chartridge) Limited
1,089,971
869,207
QH (Langley) Limited
10,800
QH (NorthChurch) Limited
200
195,470
QH (Potten End) Limited
1,052,272
1,053,572
QH (Stevenage ) Limited
138,368
QH Nuland Bramingham Limited
2,500
QWH Holdings Limited
78,000
46,000
8
Parent company
The parent company and ultimate controlling party of QH (London Colney) Limited is QWH Holdings Limited and its registered office is Handel House 95 High Street Edgware HA8 7DB.