Registration number: 00551022

Queensmere Properties Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

Queensmere Properties Limited

(Registration number: 00551022)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	10,791	16,174
Investment property	5	3,971,128	5,321,128
Investments	6	90,000	90,000
		4,071,919	5,427,302
Current assets
Debtors	7	444,937	341,345
Cash at bank and in hand		7,866	9,130
		452,803	350,475
Creditors: Amounts falling due within one year	8	(573,534)	(961,935)
Net current liabilities		(120,731)	(611,460)
Total assets less current liabilities		3,951,188	4,815,842
Creditors: Amounts falling due after more than one year	8	(807,203)	(1,905,509)
Provisions for liabilities		(26,569)	(8,225)
Net assets		3,117,416	2,902,108
Capital and reserves
Called up share capital		2,100	2,100
Share premium reserve		321,292	321,292
Revaluation reserve		375,856	871,196
Retained earnings		2,418,168	1,707,520
Shareholders' funds		3,117,416	2,902,108

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Queensmere Properties Limited

(Registration number: 00551022)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 12 September 2025 and signed on its behalf by:
 

......................................... C N Kirby Director

Queensmere Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rents and service charges from tenants in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Queensmere Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Asset class	Depreciation method and rate
Plant and machinery	20% straight line basis
Fixtures and fittings	20% straight line basis
Land and buildings	not depreciated as immaterial

Investment property

Investment properties are carried at directors' valuation. There has been no valuation by an independent professional valuer in the period.

Any excess of directors' valuation over original cost is taken to a revaluation reserve, less a provision for deferred tax where appropriate.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Queensmere Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 8).

Queensmere Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Other tangible assets  £	Total £
Cost or valuation
At 1 April 2024	78,371	-	23,387	101,758
Additions	-	292	-	292
Disposals	(7,494)	-	-	(7,494)
At 31 March 2025	70,877	292	23,387	94,556
Depreciation
At 1 April 2024	62,197	-	23,387	85,584
Charge for the year	5,610	14	-	5,624
Eliminated on disposal	(7,443)	-	-	(7,443)
At 31 March 2025	60,364	14	23,387	83,765
Carrying amount
At 31 March 2025	10,513	278	-	10,791
At 31 March 2024	16,174	-	-	16,174

5	Investment properties

	2025 £
At 1 April	5,321,128
Disposals	(1,350,000)
At 31 March	3,971,128

Investment properties have been included at directors' valuation of market value supported by an Eddisons valuation report.

Queensmere Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6	Investments

	2025 £	2024 £
Investments in subsidiaries	90,000	90,000