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Registered number: 15911805
Quillet Properties Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2026
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 15911805
31 March 2026 31 March 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 249 -
Investment Properties 5 2,171,650 2,160,000
2,171,899 2,160,000
CURRENT ASSETS
Debtors 16,727 18,573
Cash at bank and in hand 194,377 174,285
211,104 192,858
Creditors: Amounts Falling Due Within One Year (19,370 ) (1,393,874 )
NET CURRENT ASSETS (LIABILITIES) 191,734 (1,201,016 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,363,633 958,984
NET ASSETS 2,363,633 958,984
CAPITAL AND RESERVES
Called up share capital 6 1 1
Capital contribution reserve 1,373,049 -
Fair value reserve 966,237 966,237
Profit and Loss Account 24,346 (7,254 )
SHAREHOLDERS' FUNDS 2,363,633 958,984
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For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2026 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Ms A H Williams
Director
5th October 2026
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Quillet Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15911805 . The registered office is Percy Williams (Builders) Ltd, Falmouth Road, Redruth, Cornwall, TR15 2QX.
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 represents the value of amounts receivable by the company in respect of property lettings, net of Value Added Tax. Turnover is recognised as follows:
Commercial and Residential Lettings: Rental income is recognised on a straight-line basis over the period of the lease term. Lease incentives (such as rent-free periods) are spread evenly over the full duration of the lease term.
Furnished Holiday Lets: Revenue from holiday lets is recognised on an accruals basis over the period of the guest's occupancy when the service is fully delivered. Booking deposits and advance payments are deferred on the balance sheet within creditors until the commencement of the holiday stay.
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:
Computer equipment 33% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2025: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 1 April 2025 -
Additions 374
As at 31 March 2026 374
Depreciation
As at 1 April 2025 -
Provided during the period 125
As at 31 March 2026 125
Net Book Value
As at 31 March 2026 249
As at 1 April 2025 -
5. Investment Property
31 March 2026
£
Fair Value
As at 1 April 2025 2,160,000
Additions 11,650
As at 31 March 2026 2,171,650
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
31 March 2026 31 March 2025
£ £
Cost 1,193,763 1,193,763
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2026 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6. Share Capital
31 March 2026 31 March 2025
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
7. Exceptional Items
Following the Liquidation Demerger of Percy Williams & Sons Limited, the debt due from Quillet Properties Limited to Percy Williams & Sons Limited, of £1,373,049, was waived on 1 April 2025.
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8. Ultimate Parent Undertaking and Controlling Party
From 1 April 2025, the parent undertaking was Quillet Properties Holdings Ltd, a company registered in England and Wales.
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