ACCOUNTS - Final Accounts preparation

Company registration number: 04233045

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 JUNE 2025

	QUEENSGATE CORPORATION LIMITED


QUEENSGATE CORPORATION LIMITED

COMPANY INFORMATION

Directors	N. K. Reay
	A. L. Reay


Company secretary	A. L. Reay


Registered number	04233045


Registered office	4th Floor, 95 Gresham Street
	London
	EC2V 7AB


Accountants	Menzies LLP
	Chartered Accountants
	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


QUEENSGATE CORPORATION LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 5


QUEENSGATE CORPORATION LIMITED REGISTERED NUMBER:04233045

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		5,625		8,911
			5,625		8,911
Current assets
Stocks		-		962,406
Debtors: amounts falling due within one year	5	175,533		280,440
Cash at bank and in hand		1,173,352		424,209
		1,348,885		1,667,055
Creditors: amounts falling due within one year	6	(14,450)		(33,871)
Net current assets			1,334,435		1,633,184
Total assets less current liabilities			1,340,060		1,642,095

Net assets			1,340,060		1,642,095

Capital and reserves
Called up share capital	7	402,800	652,800
Profit and loss account		937,260	989,295
		1,340,060	1,642,095

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

N. K. Reay

Director

Date: 29 September 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1


QUEENSGATE CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1.	General information

Queensgate Corporation Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

The turnover shown in the profit and loss account represents the invoiced value of sales of land and property, exclusive of Value Added Tax. Sales are recognised on completion of contracts.

2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 2


QUEENSGATE CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Motor vehicles	-	Straight line over five years
				Equipment	-	Straight line over five years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.6

Work in progress

Work in progress is valued on the basis of direct costs incurred and included within stocks. No element of profit is included in the valuation of the work in progress.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 -2).

Page 3


QUEENSGATE CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

4.	Tangible fixed assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost or valuation
At 1 July 2024	16,428	6,395	22,823
At 30 June 2025	16,428	6,395	22,823
Depreciation
At 1 July 2024	7,517	6,395	13,912
Charge for the year	3,286	-	3,286
At 30 June 2025	10,803	6,395	17,198
Net book value
At 30 June 2025	5,625	-	5,625
At 30 June 2024	8,911	-	8,911

Debtors

					2025	2024
					£	£


Other debtors	174,148	279,350
Deferred taxation	1,385	1,090
	175,533	280,440

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Accruals and deferred income	14,450	33,871
	14,450	33,871

Page 4


QUEENSGATE CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

2,800 (2024 -2,800) Ordinary shares of £1.00 each	2,800	2,800
400,000 (2024 -650,000) Preference shares of £1.00 each	400,000	650,000

	402,800	652,800

The redeemable preference shares are capable of being redeemed at any time at the option of the directors. The company is not obliged to redeem these shares. Upon cancellation the company shall pay the holder the nominal value with no premium to be paid.
During the year ended 30 June 2025, the company redeemed 250,000 preference shares at their par value (2024: none).

8.	Directors transactions

		2025	2024
		£	£

Outstanding at the start of the year	(278,853)	(103,610)
Amounts repaid	288,090	101,419
Amounts advanced	(174,800)	(275,000)
Interest charged	(7,770)	(1,661)
Outstanding at the year end	(173,333)	(278,852)

Interest has been charged at a rate of 2.25% per annum, and is repayable on demand.

Page 5