Company Registration No. 10661526 (England and Wales)
Quaint Holdings Limited
Unaudited accounts
for the year ended 31 March 2025
Quaint Holdings Limited
Unaudited accounts
Contents
Quaint Holdings Limited
Company Information
for the year ended 31 March 2025
Directors
Giuseppe Viggiani
Guido Viggiani D'Avalos
Pietro Viggiani D'Avalos
Company Number
10661526 (England and Wales)
Registered Office
20 Kensington Church Walk
London
London
W8 4NB
England
Accountants
Giovanni Bosio GB & CO Accountants
9 Princes Avenue
Surbiton
Surrey
KT6 7JJ
Quaint Holdings Limited
Statement of financial position
as at 31 March 2025
Tangible assets
3,361
4,034
Investment property
4,052,159
4,052,159
Cash at bank and in hand
2,041
16,244
Creditors: amounts falling due within one year
(3,693,313)
(3,797,305)
Net current liabilities
(3,690,972)
(3,778,531)
Net assets
364,548
277,662
Called up share capital
100,000
100,000
Profit and loss account
264,548
177,662
Shareholders' funds
364,548
277,662
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by
Giuseppe Viggiani
Director
Company Registration No. 10661526
Quaint Holdings Limited
Notes to the Accounts
for the year ended 31 March 2025
Quaint Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 10661526. The registered office is 20 Kensington Church Walk, London, London, W8 4NB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Revenue comprises rental income, service charges and other recoveries from tenants of the company’s investment properties. Rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease.
3.4 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.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is provided on the following basis:
Plant & Machinery - 25%
Fixtures & Fittings - 10%
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 profit or loss.
Quaint Holdings Limited
Notes to the Accounts
for the year ended 31 March 2025
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
3.6 Financial instruments
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Quaint Holdings Limited
Notes to the Accounts
for the year ended 31 March 2025
Ordinary shares are classified as equity.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
3.10 Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
The accounts are presented in £ sterling.
3.11 Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.
Quaint Holdings Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2024
669
4,919
5,588
At 31 March 2025
669
4,919
5,588
At 1 April 2024
488
1,066
1,554
Charge for the year
181
492
673
At 31 March 2025
669
1,558
2,227
At 31 March 2025
-
3,361
3,361
At 31 March 2024
181
3,853
4,034
Fair value at 1 April 2024
4,052,159
At 31 March 2025
4,052,159
The 2025 valuations were made by the directors, on an open market value for existing use basis.
Amounts falling due after more than one year
Accrued income and prepayments
300
2,530
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
44,482
44,000
Amounts owed to group undertakings and other participating interests
19,000
20,000
Taxes and social security
29,187
20,896
Loans from directors
3,486,993
3,606,827
Deferred income
26,000
25,629
Quaint Holdings Limited
Notes to the Accounts
for the year ended 31 March 2025
8
Transactions with related parties
At the year end date the company owed £3,486,993 (2024: £3,606,827) to the director. This loan is unsecured and and with interest being accrued at a rate of 0.4% per annum. This amount is repayable in 7 years.
At the year end date the company owed £19,000 (2024: £20,000) to Quaint Services Limited, a related party. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan. During the year the company paid £41,010 (2024: £40,000) in management fees to Quaint Holdings Limited.
During the year the company paid £44,000 (2024: £44,000) in management fees to Gedarte AG, a company with common directors.
9
Average number of employees
During the year the average number of employees was 3 (2024: 3).