COMPANY REGISTRATION NUMBER:
05581666
|
Quealy & Co. Residential Lettings Limited |
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|
Filleted Unaudited Financial Statements |
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Quealy & Co. Residential Lettings Limited |
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|
Statement of Financial Position |
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31 March 2025
Fixed assets
|
Tangible assets |
5 |
2,269 |
6,063 |
|
|
|
|
Current assets
|
Debtors |
6 |
40,925 |
7,744 |
|
Cash at bank and in hand |
121,964 |
166,378 |
|
--------- |
--------- |
|
162,889 |
174,122 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
163,958 |
114,879 |
|
--------- |
--------- |
|
Net current (liabilities)/assets |
(
1,069) |
59,243 |
|
------- |
-------- |
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Total assets less current liabilities |
1,200 |
65,306 |
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------- |
-------- |
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Net assets |
1,200 |
65,306 |
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------- |
-------- |
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|
|
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Capital and reserves
|
Called up share capital |
200 |
200 |
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Profit and loss account |
1,000 |
65,106 |
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------- |
-------- |
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Shareholders funds |
1,200 |
65,306 |
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------- |
-------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Quealy & Co. Residential Lettings Limited |
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Statement of Financial Position (continued) |
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31 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
10 November 2025
, and are signed on behalf of the board by:
Company registration number:
05581666
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Quealy & Co. Residential Lettings Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Times Chambers, 2 Park Road, Sittingbourne, Kent, ME10 1DR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Equipment - 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2024:
6
).
5.
Tangible assets
|
Equipment |
|
£ |
|
Cost |
|
|
At 1 April 2024 and 31 March 2025 |
16,815 |
|
-------- |
|
Depreciation |
|
|
At 1 April 2024 |
10,752 |
|
Charge for the year |
3,794 |
|
-------- |
|
At 31 March 2025 |
14,546 |
|
-------- |
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Carrying amount |
|
|
At 31 March 2025 |
2,269 |
|
-------- |
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At 31 March 2024 |
6,063 |
|
-------- |
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6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
34,174 |
– |
|
Other debtors |
6,751 |
7,744 |
|
-------- |
------- |
|
40,925 |
7,744 |
|
-------- |
------- |
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|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
13,136 |
14,936 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
69,030 |
– |
|
Corporation tax |
37,120 |
51,682 |
|
Social security and other taxes |
33,331 |
29,712 |
|
Other creditors |
11,341 |
18,549 |
|
--------- |
--------- |
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163,958 |
114,879 |
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--------- |
--------- |
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Bank loans and overdrafts are secured by way of fixed and floating charges over the company's assets.
8.
Related party transactions
At the year end the company owed £69,030 (2024: £Nil) to group companies. At the year end the company was owed £34,174 (2024: £Nil) by companies associated under common control.
9.
Controlling party
The ultimate controlling party is
Quealy & Co Holdings Limited
via their share holding in Quealy & Co Residential Lettings Limited. The registered office of Quealy & Co Holdings Limited is T he Oast House Wrens Road, Borden, Sittingbourne, Kent, United Kingdom, ME9 8JE
.