Registration number: 13093764

Quartz Student Properties Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Abridged Balance Sheet	3 to 4
Notes to the Unaudited Abridged Financial Statements	5 to 8

Quartz Student Properties Limited

Company Information

Directors

Mr R C Joffe Mrs JM Joffe

Registered office

4 Cedar Park Cobham Road Wimborne Dorset BH21 7SF

Accountants

Ward Goodman Accountancy Services Ltd Chartered Certified Accountants4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF

Quartz Student Properties Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Quartz Student Properties Limited

(Registration number: 13093764)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	25,363	31,705
Investment property		880,088	880,088
		905,451	911,793
Current assets
Debtors		14,703	2,556
Cash at bank and in hand		4,504	9,613
		19,207	12,169
Prepayments and accrued income		3,062	1,115
Creditors: Amounts falling due within one year		(336,567)	(338,233)
Net current liabilities		(314,298)	(324,949)
Total assets less current liabilities		591,153	586,844
Creditors: Amounts falling due after more than one year		(602,656)	(607,114)
Accruals and deferred income		(2,430)	(2,025)
Net liabilities		(13,933)	(22,295)
Capital and reserves
Called up share capital		300	300
Retained earnings		(14,233)	(22,595)
Shareholders' deficit		(13,933)	(22,295)

For the financial year ending 31 December 2024 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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.

Quartz Student Properties Limited

(Registration number: 13093764)
Abridged Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Mrs JM Joffe Director

Quartz Student Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

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:
4 Cedar Park
Cobham Road
Wimborne
Dorset
BH21 7SF
United Kingdom

These financial statements were authorised for issue by the Board on 30 September 2025.

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 abridged 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 abridged 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.

The presentation currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £1.

Reclassification of comparative amounts

The prior year balance sheet has been adjusted as property with a cost of £880,088 has been re-stated as investment property. Internal fixtures & fittings with a cost of £23,412 have also been re-stated as fixtures & fittings. Subsequently, total depreciation on the fixtures & fittings of £6,381 has been included and so brought forward reserves have reduced by this amount.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Quartz Student Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

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:

Asset class	Depreciation method and rate
Plant & machinery	20% reducing balance
Fixtures & fittings	20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Quartz Student Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	40,640	299	40,939
At 31 December 2024	40,640	299	40,939
Depreciation
At 1 January 2024	9,088	146	9,234
Charge for the year	6,311	31	6,342
At 31 December 2024	15,399	177	15,576
Carrying amount
At 31 December 2024	25,241	122	25,363
At 31 December 2023	31,552	153	31,705

Included within fixtures & fittings are assets held under hire purchase agreement with a net book value of £12,971 (2023: £16,214).

Quartz Student Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Investment properties

	2024 £
At 1 January	880,088

The properties have not been revalued during the year as the directors do not see that there has been any material change in value since they were purchased for their original cos of £880,088. The properties have been undergoing a period of renovation in order to bring them to the desired standards. Once this process has been completed an independent valuation will be carried out.

5	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £607,114 (2023 - £613,802). Included within the aforementioned financial commitments are total mortgages owing to Onesavings Bank PLC (charge numbers 1309 3764 001 and 1309 3764 0002) of £602,656 (2023: £602,656) and hire purchase commitments of £4,458 (2023: £11,146).

There were no other commitments, guarantees or contingencies entered into on behalf of the directors.

6	Related party transactions

Loans to related parties

2024	Other related parties £	Total £
Advanced	12,152	12,152
At end of period	12,152	12,152

Terms of loans to related parties

This loan has been made to Mr E Joffe and they are related due to their beneficial interest in the company as a shareholder. This loan has has been provided interest free and is repayable on demand.