Silverfin false false 31/12/2024 01/01/2024 31/12/2024 M Greene 28/05/1991 13 June 2025 The principal activity of the company is the management of it's subsidiaries and property development. 02709541 2024-12-31 02709541 bus:Director1 2024-12-31 02709541 2023-12-31 02709541 core:CurrentFinancialInstruments 2024-12-31 02709541 core:CurrentFinancialInstruments 2023-12-31 02709541 core:ShareCapital 2024-12-31 02709541 core:ShareCapital 2023-12-31 02709541 core:RetainedEarningsAccumulatedLosses 2024-12-31 02709541 core:RetainedEarningsAccumulatedLosses 2023-12-31 02709541 core:Vehicles 2023-12-31 02709541 core:FurnitureFittings 2023-12-31 02709541 core:Vehicles 2024-12-31 02709541 core:FurnitureFittings 2024-12-31 02709541 core:CostValuation 2023-12-31 02709541 core:CostValuation 2024-12-31 02709541 2024-01-01 2024-12-31 02709541 bus:FilletedAccounts 2024-01-01 2024-12-31 02709541 bus:SmallEntities 2024-01-01 2024-12-31 02709541 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02709541 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02709541 bus:Director1 2024-01-01 2024-12-31 02709541 core:Vehicles core:TopRangeValue 2024-01-01 2024-12-31 02709541 core:FurnitureFittings 2024-01-01 2024-12-31 02709541 2023-01-01 2023-12-31 02709541 core:Vehicles 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 02709541 (England and Wales)

THE QUALITY PROPERTY COMPANY LIMITED

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

THE QUALITY PROPERTY COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

THE QUALITY PROPERTY COMPANY LIMITED

BALANCE SHEET

As at 31 December 2024
THE QUALITY PROPERTY COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 28,788 31,239
Investments 5 50 50
28,838 31,289
Current assets
Debtors 6 1,395,338 1,571,055
Cash at bank and in hand 2,336,831 1,929,295
3,732,169 3,500,350
Creditors: amounts falling due within one year 7 ( 124,153) ( 105,563)
Net current assets 3,608,016 3,394,787
Total assets less current liabilities 3,636,854 3,426,076
Net assets 3,636,854 3,426,076
Capital and reserves
Called-up share capital 2 2
Profit and loss account 3,636,852 3,426,074
Total shareholder's funds 3,636,854 3,426,076

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:

The financial statements of The Quality Property Company Limited (registered number: 02709541) were approved and authorised for issue by the Director. They were signed on its behalf by:

M Greene
Director

13 June 2025

THE QUALITY PROPERTY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
THE QUALITY PROPERTY COMPANY 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 year, unless otherwise stated.

General information and basis of accounting

The Quality Property Company 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover represents amounts receivable for services provided in the year net of value added tax, together with profit shares on property dealing activities.


Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

4. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 January 2024 25,000 30,559 55,559
Additions 26,000 0 26,000
Disposals ( 25,000) 0 ( 25,000)
At 31 December 2024 26,000 30,559 56,559
Accumulated depreciation
At 01 January 2024 4,688 19,632 24,320
Charge for the financial year 6,500 1,639 8,139
Disposals ( 4,688) 0 ( 4,688)
At 31 December 2024 6,500 21,271 27,771
Net book value
At 31 December 2024 19,500 9,288 28,788
At 31 December 2023 20,312 10,927 31,239

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 50 50
At 31 December 2024 50 50
Carrying value at 31 December 2024 50 50
Carrying value at 31 December 2023 50 50

6. Debtors

2024 2023
£ £
Other debtors 1,395,338 1,571,055

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 37,711 19,223
Other creditors 86,442 86,340
124,153 105,563

8. Related party transactions

Transactions with owners holding a participating interest in the entity

Included within debtors is a balance of £27,987 owed by the director to the company (2023: £54,027). Interest of £1,028 ( 2023: £1,009) was charged on the loan. The balance will be repaid within 9 months of the year end.

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

Management fees of £120,000 (2023: £120,000) were charged to an entity over which this company has control, joint control or significant influence.

Dividends of £105,000 (2023: £250,000) were received from an entity over which this company has control, joint control or significant influence.

Other related party transactions

2024 2023
£ £
Amounts owed to other related parties 1,192,177 1,220,740

9. Ultimate controlling party

The company is controlled by M Greene.