Company registration number 08047530 (England and Wales)
QWEST PROPERTY SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
QWEST PROPERTY SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
QWEST PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 08047530)
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,921
4,606
Investment property
4
202,641
203,992
Investments
5
2,400
2,400
207,962
210,998
Current assets
Debtors
6
39,276
41,047
Cash at bank and in hand
838
1,405
40,114
42,452
Creditors: amounts falling due within one year
7
(84,578)
(84,385)
Net current liabilities
(44,464)
(41,933)
Total assets less current liabilities
163,498
169,065
Creditors: amounts falling due after more than one year
8
(138,659)
(138,667)
Net assets
24,839
30,398
Capital and reserves
Called up share capital
2
2
Non-distributable profits reserve
9
1,350
Distributable profit and loss reserves
24,837
29,046
Total equity
24,839
30,398
QWEST PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 08047530)
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
For the financial year ended 30 April 2025 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 27 June 2025
Mr A Sworn
Director
QWEST PROPERTY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information
Qwest Property Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 50 Huntingdon Close, Mitcham, Surrey, CR4 2XJ.
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 £1.
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
Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.
1.3
Turnover
Turnover represents rental income received during the period which relates to current accounting period.
1.4
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% on cost
Fixtures and fittings
25% Straight line
Computers
25% reducing balance
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.
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently is is measure at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Investment property is not subject to depreciation.
1.6
Fixed asset investments
Investment is initially recognised at cost, changes in fair value are recognised in profit or loss.
QWEST PROPERTY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 May 2024 and 30 April 2025
4,075
6,599
779
11,453
Depreciation and impairment
At 1 May 2024
4,075
2,131
641
6,847
Depreciation charged in the year
1,650
35
1,685
At 30 April 2025
4,075
3,781
676
8,532
Carrying amount
At 30 April 2025
2,818
103
2,921
At 30 April 2024
4,468
138
4,606
4
Investment property
2025
£
Fair value
At 1 May 2024
203,991
Revaluations
(1,350)
At 30 April 2025
202,641
Investment property comprises properties at far value £202,641. The fair value of the investment property has been arrived at by the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties and the directors' best estimate.
QWEST PROPERTY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
2,400
2,400
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
39,276
41,047
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,249
2,360
Other creditors
82,329
82,025
84,578
84,385
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
138,659
138,667
Creditors which fall due after five years are payable as follows:
Payable by instalments
138,659
138,667
The bank loans are secured by way of a fixed charge and also contain a negative pledge.
9
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
1,350
-
Non distributable profits in the year
(1,350)
1,350
At the end of the year
-
1,350