Company No: 13705109 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Stocks		1,462,600		4,378,472
Debtors	4	195,833		272,823
Cash at bank and in hand		542,981		1,931
		2,201,414		4,653,226
Creditors: amounts falling due within one year	5	( 2,113,873)		( 2,213,406)
Net current assets		87,541		2,439,820
Total assets less current liabilities		87,541		2,439,820
Creditors: amounts falling due after more than one year	6	( 816,995)		( 2,456,141)
Net liabilities		( 729,454)		( 16,321)
Capital and reserves
Called-up share capital		1		1
Profit and loss account		( 729,455 )		( 16,322 )
Total shareholder's deficit		( 729,454)		( 16,321)

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Quad 400 Limited (registered number: 13705109) were approved and authorised for issue by the Director on 30 October 2026. They were signed on its behalf by:

L Lianos Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Quad 400 Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5th Floor 16 Great Queen Street, Covent Garden,, London, WC2B 5DG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue from the sale of properties is recognised when control of the property has transferred to the purchaser, which is generally the point at which legal completion of the sale occurs and the significant risks and rewards of ownership have passed to the buyer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Work in progress, being property development, is valued at the lower of cost and net realisable value. The company capitalises interest on specific finance raised once development commences and until practical completion, based on the total actual finance cost incurred on borrowings during the year. Any interest costs not directly attributable to the development are expensed to the profit and loss account.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

4. Debtors

	2025		2024
	£		£
Amounts owed by Group undertakings	168,912		260,047
Other debtors	26,921		12,776
	195,833		272,823

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	70,178		215,426
Amounts owed to Group undertakings	491,173		402,126
Other creditors	1,552,522		1,595,854
	2,113,873		2,213,406

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	816,995		2,456,141

The company's bank borrowings are secured by a legal charge over the property at 84 Broad Lane, Hampton, TW12 3BW.

In the prior year, borrowings were also secured by a fixed and floating charge over the company's assets. This security was released during the year following the disposal of the related property.

7. Related party transactions

Other related party transactions

As at the year end, the company was owed £68,962 (2025: £159,447) by a connected company, Quad Architects Ltd. The loan is interest free and repayable on demand.

As at the year end, the company was owed £94,950 (2025: £95,000) by a connected company, Quad 500 Ltd. The loan is interest free and repayable on demand.

As at the year end, the company was owed £5,000 (2025: £5,000) by a connected company, Quad 101 Ltd. The loan is interest free and repayable on demand.

As at the year end, the company owed £150,086 (2025: £70,716) to a connected company, Quad Adapt Ltd. The loan is interest free and repayable on demand.

As at the year end, the company owed £3,200 (2025: £7,000 debtor) to a connected company, Quad Projects (Notting Hill) Ltd. The loan is interest free and repayable on demand.

As at the year end, the company owed £337,510 (2025: £338,410) to a connected company, Drayton Kirk Ltd. The loan is interest free and repayable on demand.