| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| Q Ball Lease Company Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| Q Ball Lease Company Limited |
| Q Ball Lease Company Limited (Registered number: 03845686) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Q Ball Lease Company Limited |
| Company Information |
| for the Year Ended 31 January 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Statutory Auditor |
| Chartered Accountants |
| Lakeview House |
| 4 Woodbrook Crescent |
| Billerciay |
| Essex |
| CM12 0EQ |
| Q Ball Lease Company Limited (Registered number: 03845686) |
| Balance Sheet |
| 31 January 2025 |
| 31.1.25 | 31.1.24 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Fair value reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Q Ball Lease Company Limited (Registered number: 03845686) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2025 |
| 1. | STATUTORY INFORMATION |
| Q Ball Lease Company Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the rents received or receivable during the year net of VAT and trade discounts. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Q Ball Lease Company Limited (Registered number: 03845686) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 February 2024 |
| and 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| Fair value at 31 January 2025 is represented by: |
| £ |
| Valuation in 2025 | 350,000 |
| If had not been revalued would have been included at the following historical cost: |
| 31.1.25 | 31.1.24 |
| £ | £ |
| Cost | 250,000 | 250,000 |
| The investment properties were revalued on a fair value basis by Countrywide, Chartered Surveyors. Approximately one third of properties are revalued as at each balance sheet date. Thus all investment properties are revalued at least once in any three year period. At the year end the director assesses those properties valued in prior years to ensure the value shown has not materially changed. |
| Revaluation gains of £Nil (2024: £Nil) have been included in profit and loss for the year and subsequently transferred to the fair value reserve. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.25 | 31.1.24 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.25 | 31.1.24 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.1.25 | 31.1.24 |
| value: | £ | £ |
| Ordinary | £1 | 4 | 4 |
| Q Ball Lease Company Limited (Registered number: 03845686) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 8. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 February 2024 |
| and 31 January 2025 |
| Fair value reserve relates to investment property revaluations, shown net of deferred tax. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | PARENT UNDERTAKING |
| The parent undertaking is Elizabeth Holdings Plc. The parent undertaking shares its registered office with Q Ball Lease Company Limited. |
| Copies of the group accounts can be obtained at Companies House, Cardiff, CF14 3UZ. |