REGISTERED NUMBER: 10053886 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

QUALITAS PROPERTY DEVELOPMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Woodcock

N W Woodworth

REGISTERED OFFICE:

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

BUSINESS ADDRESS:

The Warehouse

12 Ravensbury Terrace

London

SW18 4RL

REGISTERED NUMBER:

10053886 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

FIXED ASSETS

Tangible assets

4

110

269

CURRENT ASSETS

Stocks

2,254,189

1,862,269

Debtors

5

926,624

1,010,693

Cash at bank

-

1,295

3,180,813

2,874,257

CREDITORS

Amounts falling due within one year

6

3,178,561

2,700,757

NET CURRENT ASSETS

2,252

173,500

TOTAL ASSETS LESS CURRENT LIABILITIES

2,362

173,769

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,262

173,669

2,362

173,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2026 and were signed on its behalf by:

J Woodcock - Director

1.	STATUTORY INFORMATION

Qualitas Property Development 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 currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

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

Revenue from the sale of real estate is recognised when the significant risks and rewards of ownership or control is transferred to the buyer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivables or payables 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 classified as debt instruments are initially measured at transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

482

DEPRECIATION

At 1 April 2024

213

Charge for year

159

At 31 March 2025

372

NET BOOK VALUE

At 31 March 2025

110

At 31 March 2024

269

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

218,769

218,873

Amounts owed by group undertakings

644,232

719,802

Other debtors

63,623

72,018

926,624

1,010,693

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

1,672

-

Trade creditors

169,560

306,458

Amounts owed to group undertakings

1,591,598

1,121,038

Taxation and social security

5,004

-

Other creditors

1,410,727

1,273,261

3,178,561

2,700,757

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the directors owed the company £20,843 (2024: £11,386) and £18,830 (2024: £13,459). The balances are unsecured, interest bearing and have no repayment terms.

8.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by the directors.