Queens Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11233628

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		373,895		77,742

			373,895		77,742
CURRENT ASSETS
Debtors	5	841,547		687,976
Cash at bank and in hand		101,867		137,821

		943,414		825,797
Creditors: Amounts Falling Due Within One Year	6	(1,374,741 )		(1,022,397 )

NET CURRENT ASSETS (LIABILITIES)			(431,327 )		(196,600 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(57,432 )		(118,858 )

Creditors: Amounts Falling Due After More Than One Year	7		(442,051 )		(371,357 )

NET LIABILITIES			(499,483 )		(490,215 )

CAPITAL AND RESERVES
Called up share capital	9		622,872		622,872
Other reserves			373		-
Profit and Loss Account			(1,122,728 )		(1,113,087 )

SHAREHOLDERS' FUNDS			(499,483)		(490,215)

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Queens Limited

Balance Sheet (continued)

As At 31 March 2025

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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

M Quail

Director

11 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Queens Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11233628 . The registered office is Unit 2, 54 Jeffreys Road, Enfield, Middlesex, EN3 7UA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold Improvements	6.67% straight line
Motor Vehicles	Over estimated useful lives, between 3 and 8 years
Fixtures & Fittings	33% straight line
Computer Equipment	33% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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Queens Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Share options

The fair value of employee share options is calculated when they are granted using a Black-Scholes model . The resulting cost is charged in the Income Statement, as an employee benefit expense, over the vesting period of the option together with a corresponding increase in equity. The cumulative expense recognised is the company's best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the Income Statement for a period represents the movement in cumulative expense recognised as at the beginning and end of that period.

Service and non-service performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the company's best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 25 (2024: 20)

4. Tangible Assets

	Land & Property
	Leasehold Improvements	Computer & Office equipment	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 April 2024	132,505	28,006	105,980	23,794	290,285
Additions	125,725	7,761	119,355	33,413	286,254
Disposals	-	(6,676 )	-	(11,182 )	(17,858 )

As at 31 March 2025	258,230	29,091	225,335	46,025	558,681

Depreciation
As at 1 April 2024	77,451	23,205	90,861	21,026	212,543
Provided during the period	11,595	5,944	(28,830 )	1,392	(9,899 )
Disposals	-	(6,676 )	-	(11,182 )	(17,858 )

As at 31 March 2025	89,046	22,473	62,031	11,236	184,786

Net Book Value
As at 31 March 2025	169,184	6,618	163,304	34,789	373,895

As at 1 April 2024	55,054	4,801	15,119	2,768	77,742

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	548,425	402,256
Other debtors	293,122	285,720

	841,547	687,976

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Queens Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	52,093	-
Trade creditors	670,702	414,604
Bank loans and overdrafts	16,485	-
Other creditors	516,775	465,557
Taxation and social security	118,686	142,236

	1,374,741	1,022,397

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	75,640	-
Bank loans	3,509	13,409
Other creditors	362,902	357,948

	442,051	371,357

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	52,093	-
Later than one year and not later than five years	75,640	-

	127,733	-

	127,733	-

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	622,872	622,872

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	309,861	309,861
Later than one year and not later than five years	1,239,444	1,549,306

	1,549,305	1,859,167

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