Registered number
01840481
Quakehart Limited
Unaudited Filleted Accounts
31 March 2025
Quakehart Limited
Registered number: 01840481
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 616,016 300,000
Current assets
Debtors 4 1,511 2,056
Investments held as current assets 5 184 249,927
Cash at bank and in hand 23,031 4,858
24,726 256,841
Creditors: amounts falling due within one year 6 (87,525) (8,278)
Net current assets (62,799) 248,563
Net assets 553,217 548,563
Capital and reserves
Called up share capital 520 520
Fair value reserve 7 179,875 179,875
Profit and loss account 372,822 368,168
Shareholder's funds 553,217 548,563
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
…...............................................................................................
Mr P.R. Willsher
Director
Approved by the board on 2 June 2025
Quakehart Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
These accounts have been prepared under the historical cost convention, as modified by the revaluation of the Freehold and Long leasehold investment properties, and in accordance with FRS 102 section 1A small entities, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the rents receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than Freehold and Long leasehold investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Freehold and Long Leasehold investment properties
Freehold and Long Leasehold investment property is included at fair value. Gains are recognised through the Profit and loss account on the statement of changes in equity and deferred tax is also provided on these gains at the rate expected to apply when the property is sold. As these net gains are not available for distribution, a transfer is then made from the Profit and loss account so that they are held separately on a fair value reserve.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Fair value
At 1 April 2024 300,000 - 300,000
Additions 314,618 1,748 316,366
At 31 March 2025 614,618 1,748 616,366
Depreciation
Charge for the year - 350 350
At 31 March 2025 - 350 350
Net book value
At 31 March 2025 614,618 1,398 616,016
At 31 March 2024 300,000 - 300,000
Freehold and Long leasehold investment properties 2025 2024
£ £
Historical cost 434,743 120,125
Cumulative depreciation based on historical cost - -
434,743 120,125
The freehold and Long leasehold investment properties were revalued by the director during the year at fair value.
4 Debtors 2025 2024
£ £
Other debtors 1,511 2,056
5 Investments held as current assets 2025 2024
£ £
Cost
Listed investments 184 249,927
6 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 2,922 1,446
Other creditors 84,603 6,832
87,525 8,278
7 Fair value reserve 2025 2024
£ £
At 1 April 2024 179,875 179,875
At 31 March 2025 179,875 179,875
8 Related party transactions
Mr P.R. Willsher
Mr P.R. Willsher is the company director and controlling party
The company owed monies to the related party on directors loan account
Amount owed to the related party (75,245) (4,337)
9 Controlling party
The company was under the control of Mr P.R. Willsher throughout the current and previous year.
10 Other information
Quakehart Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Steeple Point
Ascot
Berks
SL5 7TZ
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