QUEBEC FOUR EIGHTY LTD


Director	JEFFREY, Scott Munro


Registered Address	31 Fairfield Place
	East Kilbride
	Glasgow
	G74 5LP


Registered Number	SC740741 (Scotland)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Investment property	3		699,444		699,444
			699,444		699,444
Current assets
Cash at bank and on hand		223,381		9,995
		223,381		9,995
Creditors amounts falling due within one year	4	(877,243)		(694,473)
Net current assets (liabilities)			(653,862)		(684,478)
Total assets less current liabilities			45,582		14,966
Net assets			45,582		14,966
Capital and reserves
Called up share capital			100		100
Profit and loss account			45,482		14,866
Shareholders' funds			45,582		14,966

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 3 August 2026, and are signed on its behalf by:

JEFFREY, Scott Munro
Director
Registered Company No. SC740741

QUEBEC FOUR EIGHTY LTD

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page. The principal activity of the company in the year under review was that of letting of investment properties.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. These financial statements for the year ended 31 March 2026 are the first financial statements that comply with FRS 102 Section 1A. The company previously prepared its financial statements under FRS 105 (Micro-Entities Regime). The date of transition to FRS 102 was 1 April 2025. The transaction has been accounted for in accordance with Section 35 of FRS 102. In preparing these financial statements, the company has applied the recognition and measurement principles of FRS 102 retrospectively, subject to certain exemptions. No adjustments or restatements were required on transition.

Basis of preparation

The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

These financial statements for the year ended 31 March 2026 are the first financial statements that comply with FRS 102 Section 1A. The company previously prepared its financial statements under FRS 105 (Micro-Entities Regime).

The date of transition to FRS 102 was 1 April 2025. The transaction has been accounted for in accordance with Section 35 of FRS 102.

In preparing these financial statements, the company has applied the recognition and measurement principles of FRS 102 retrospectively, subject to certain exemptions. No adjustments or restatements were required on transition.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover being rental income recoverable from tenants of the investment properties.

	Current taxation
	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.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are 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 the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	0		0

3.	Investment property
	The investment properties are carried at an open market value of £699,444. This valuation represents the Director's opinion of fair value as at 31 March 2026.


		£
	Fair value at 01 April 25	699,444
	At 31 March 26	699,444

4.	Creditors: amounts due within one year

	2026	2025
	£	£
Bank borrowings and overdrafts	430,055	229,480
Taxation and social security	7,181	3,487
Other creditors	438,108	460,006
Accrued liabilities and deferred income	1,899	1,500
Total	877,243	694,473


	The bank loan included in creditors is secured by a standard security over the company's assets.