Acorah Software Products - Accounts Production 16.4.675 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 12529018 George Alexander Lentell Gosling Henry Thomas Lentell Gosling Jake Lewis Pickering iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12529018 2024-03-31 12529018 2025-03-31 12529018 2024-04-01 2025-03-31 12529018 frs-core:CurrentFinancialInstruments 2025-03-31 12529018 frs-core:Non-currentFinancialInstruments 2025-03-31 12529018 frs-core:ShareCapital 2025-03-31 12529018 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 12529018 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12529018 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 12529018 frs-bus:SmallEntities 2024-04-01 2025-03-31 12529018 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 12529018 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12529018 frs-bus:Director1 2024-04-01 2025-03-31 12529018 frs-bus:Director2 2024-04-01 2025-03-31 12529018 frs-bus:Director3 2024-04-01 2025-03-31 12529018 frs-countries:EnglandWales 2024-04-01 2025-03-31 12529018 2023-03-31 12529018 2024-03-31 12529018 2023-04-01 2024-03-31 12529018 frs-core:CurrentFinancialInstruments 2024-03-31 12529018 frs-core:Non-currentFinancialInstruments 2024-03-31 12529018 frs-core:ShareCapital 2024-03-31 12529018 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 12529018
Quartette Properties Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12529018
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 502,616 502,616
502,616 502,616
CURRENT ASSETS
Cash at bank and in hand 2,808 5,667
2,808 5,667
Creditors: Amounts Falling Due Within One Year 5 (206,874 ) (222,155 )
NET CURRENT ASSETS (LIABILITIES) (204,066 ) (216,488 )
TOTAL ASSETS LESS CURRENT LIABILITIES 298,550 286,128
Creditors: Amounts Falling Due After More Than One Year 6 (280,000 ) (280,000 )
NET ASSETS 18,550 6,128
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 18,450 6,028
SHAREHOLDERS' FUNDS 18,550 6,128
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For the year ending 31 March 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Jake Lewis Pickering
Director
28 May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Quartette Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12529018 . The registered office is Leonard House, 5-7 Newman Road, Kent, BR1 1RJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties

Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.

Service charge income is recognised as revenue in the period to which it relates.

Sale of trading properties

Turnover from the sale of trading properties is recognised in the income statement when the significant risks and rewards of ownership have been transferred to the buyer, which is usually at the completion.

Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Interest income

Revenue is recognised as interest accrues using the effective interest method.

Dividends income

Revenue is recognised when the right to receive payment is established.
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2.3. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.

Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, excluding directors, during the year was: NIL (2024: NIL)
- -
4. Investment Property
2025
£
Fair Value
As at 1 April 2024 and 31 March 2025 502,616
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5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors 203,960 220,741
Taxation and social security 2,914 1,414
206,874 222,155
6. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other loans 280,000 280,000
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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