REGISTERED NUMBER: 08074536 (England and Wales)

Unaudited Financial Statements for the Year Ended 5 April 2025

for

Quest Property (Holly Street) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J L Brook

REGISTERED OFFICE:

Lower Plaza 1

Gateway Plaza

Fitzwilliam Street

Barnsley

S70 2RF

REGISTERED NUMBER:

08074536 (England and Wales)

ACCOUNTANTS:

Harris & Co Limited

Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

FIXED ASSETS

Investments

5

100

100

Investment property

6

6,000,000

6,000,000

6,000,100

6,000,100

CURRENT ASSETS

Debtors

7

331,143

447,410

Cash at bank and in hand

181,597

130,992

512,740

578,402

CREDITORS

Amounts falling due within one year

8

3,844,835

3,605,129

NET CURRENT LIABILITIES

(3,332,095

)

(3,026,727

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,668,005

2,973,373

CREDITORS

Amounts falling due after more than one year

9

3,248,680

3,565,750

NET LIABILITIES

(580,675

)

(592,377

)

CAPITAL AND RESERVES

Called up share capital

100

-

Retained earnings

(580,775

)

(592,377

)

(580,675

)

(592,377

)

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

Mr J L Brook - Director

1.	STATUTORY INFORMATION

Quest Property (Holly Street) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis under the historical cost convention.

Going concern

The accounts have been prepared on the going concern basis which is dependent upon the continued support of the company's bank, shareholders and related parties.

At 5 April 2025, the company had a balance sheet deficit of £580,675 (2024: £592,377) which included an outstanding loan of £1,276,089 (2024: 1,389,089) owing to Vintage Finance LLP. This loan is not repayable until 2026 and Vintage Finance LLP is a related party.

At the balance sheet date, the company has external bank lending of £2,162,590 (2024: £2,366,660), of which £1,972,591 (2024: £2,176,660) is due greater than one year. £2,160,924 of this balance is secured against the assets of the company and the director is comfortable that with the strength of covenant from the existing tenants this debt is comfortably serviceable.

The director is confident that due to ongoing support of the creditors the company will continue to be able to pay its liabilities as they fall due for the foreseeable future. On this basis the director believes it to be appropriate to prepare the accounts on a going concern basis.

Significant judgements and estimates

The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 6 April 2024

and 5 April 2025

100

NET BOOK VALUE

At 5 April 2025

100

At 5 April 2024

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2024

and 5 April 2025

6,000,000

NET BOOK VALUE

At 5 April 2025

6,000,000

At 5 April 2024

6,000,000

In the director's opinion the above value shown in investment property represents the market value of the property.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

60,901

Other debtors

331,143

386,509

331,143

447,410

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

190,000

190,000

Trade creditors

168,403

58,776

Taxation and social security

39,736

19,485

Other creditors

3,446,696

3,336,868

3,844,835

3,605,129

Bank loans and overdrafts of £180,000 (2024: £180,000) falling due within one year are secured against the assets of the company.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,972,591

2,176,661

Other creditors

1,276,089

1,389,089

3,248,680

3,565,750

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

1,250,924

1,444,993

1,250,924

1,444,993

Bank loans and overdrafts of £1,970,924 (2024: £2,164,994) falling due within one year are secured against the assets of the company.

10.	RELATED PARTY DISCLOSURES

Companies under common control

The company was charged no interest (2024: £3,377) and management charges of £210,000 (2024: £110,000) by companies under common control. At 5 April 2025 the balance due to those companies was as follows:

2025

2024

£

£

Amount due to related party at the balance sheet date

2,807,440

2,575,139

Long term loans from companies under common control

The company was charged no interest (2024: £NIL) on a long term loan to a company under common control. At 30 April 2025 the balance outstanding on that loan was as follows:

2025

2024

£

£

Amount due to related party at the balance sheet date

1,276,089

1,389,089

Management charge from company under common control

2025

2024

£

£

Management charges

210,000

110,000

In previous years interest has been charged on balances with related parties. From the year ended 30 April 2024 interest is no longer charged.