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REGISTERED NUMBER: SC348734 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

QUEST PUMPS LIMITED

QUEST PUMPS LIMITED (REGISTERED NUMBER: SC348734)

Contents of the Financial Statements
for the Year Ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUEST PUMPS LIMITED

Company Information
for the Year Ended 31 December 2022







DIRECTOR: A D Cooke





SECRETARY: Infinity Secretaries Limited





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC348734 (Scotland)






QUEST PUMPS LIMITED (REGISTERED NUMBER: SC348734)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 221,116 120,524

CURRENT ASSETS
Stocks 664,602 562,078
Debtors 5 2,323,206 675,547
Cash at bank 514,315 1,458,093
3,502,123 2,695,718
CREDITORS
Amounts falling due within one year 6 577,600 403,553
NET CURRENT ASSETS 2,924,523 2,292,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,145,639

2,412,689

CREDITORS
Amounts falling due after more than one
year

7

55,526

63,753
NET ASSETS 3,090,113 2,348,936

CAPITAL AND RESERVES
Called up share capital 7,000 7,000
Capital redemption reserve 3,000 3,000
Retained earnings 3,080,113 2,338,936
SHAREHOLDERS' FUNDS 3,090,113 2,348,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

QUEST PUMPS LIMITED (REGISTERED NUMBER: SC348734)

Balance Sheet - continued
31 December 2022


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 director and authorised for issue on 28 September 2023 and were signed by:





A D Cooke - Director


QUEST PUMPS LIMITED (REGISTERED NUMBER: SC348734)

Notes to the Financial Statements
for the Year Ended 31 December 2022


1. STATUTORY INFORMATION

Quest Pumps Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 20% on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

QUEST PUMPS LIMITED (REGISTERED NUMBER: SC348734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2022 141,128 169,562 73,406 152,600 536,696
Additions 3,808 122,117 800 34,585 161,310
Disposals - - - (47,346 ) (47,346 )
Reclassification/transfer (4,000 ) 4,000 - - -
At 31 December 2022 140,936 295,679 74,206 139,839 650,660
DEPRECIATION
At 1 January 2022 127,729 158,477 64,575 65,391 416,172
Charge for year 6,085 8,446 4,472 22,715 41,718
Eliminated on disposal - - - (28,346 ) (28,346 )
Reclassification/transfer (577 ) 577 - - -
At 31 December 2022 133,237 167,500 69,047 59,760 429,544
NET BOOK VALUE
At 31 December 2022 7,699 128,179 5,159 80,079 221,116
At 31 December 2021 13,399 11,085 8,831 87,209 120,524

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 1,197,032 246,443
Amounts owed by participating interests 253,780 3,600
Other debtors 872,394 425,504
2,323,206 675,547

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 20,982 14,414
Trade creditors 207,985 65,568
Taxation and social security 251,953 149,248
Other creditors 96,680 174,323
577,600 403,553

QUEST PUMPS LIMITED (REGISTERED NUMBER: SC348734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Hire purchase contracts 30,545 28,538
Other creditors 24,981 35,215
55,526 63,753

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A D Cooke.