IRIS Accounts Production v23.3.1.45 02857040 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure028570402022-03-31028570402023-03-31028570402022-04-012023-03-31028570402021-03-31028570402021-04-012022-03-31028570402022-03-3102857040ns16:EnglandWales2022-04-012023-03-3102857040ns15:PoundSterling2022-04-012023-03-3102857040ns11:Director12022-04-012023-03-3102857040ns11:Director22022-04-012023-03-3102857040ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3102857040ns11:SmallEntities2022-04-012023-03-3102857040ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3102857040ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3102857040ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3102857040ns11:FullAccounts2022-04-012023-03-3102857040ns11:Director32022-04-012023-03-3102857040ns11:RegisteredOffice2022-04-012023-03-3102857040ns6:CurrentFinancialInstruments2023-03-3102857040ns6:CurrentFinancialInstruments2022-03-3102857040ns6:Non-currentFinancialInstruments2023-03-3102857040ns6:Non-currentFinancialInstruments2022-03-3102857040ns6:ShareCapital2023-03-3102857040ns6:ShareCapital2022-03-3102857040ns6:RetainedEarningsAccumulatedLosses2023-03-3102857040ns6:RetainedEarningsAccumulatedLosses2022-03-3102857040ns6:LeaseholdImprovements2022-04-012023-03-3102857040ns6:PlantMachinery2022-04-012023-03-3102857040ns6:FurnitureFittings2022-04-012023-03-3102857040ns6:MotorVehicles2022-04-012023-03-3102857040ns6:LeaseholdImprovements2022-03-3102857040ns6:PlantMachinery2022-03-3102857040ns6:FurnitureFittings2022-03-3102857040ns6:MotorVehicles2022-03-3102857040ns6:LeaseholdImprovements2023-03-3102857040ns6:PlantMachinery2023-03-3102857040ns6:FurnitureFittings2023-03-3102857040ns6:MotorVehicles2023-03-3102857040ns6:LeaseholdImprovements2022-03-3102857040ns6:PlantMachinery2022-03-3102857040ns6:FurnitureFittings2022-03-3102857040ns6:MotorVehicles2022-03-3102857040ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3102857040ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3102857040ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2023-03-3102857040ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2022-03-3102857040ns6:Secured2023-03-3102857040ns6:Secured2022-03-3102857040ns6:DeferredTaxation2022-03-3102857040ns6:DeferredTaxation2022-04-012023-03-3102857040ns6:DeferredTaxation2023-03-31
REGISTERED NUMBER: 02857040 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

QUEST 4 ALLOYS LIMITED

QUEST 4 ALLOYS LIMITED (REGISTERED NUMBER: 02857040)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUEST 4 ALLOYS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: A R Jones
D J Smith





REGISTERED OFFICE: Fusion House
The Crescent
Willenhall
West Midlands
WV13 2QR





REGISTERED NUMBER: 02857040 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

QUEST 4 ALLOYS LIMITED (REGISTERED NUMBER: 02857040)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 452,066 467,217

CURRENT ASSETS
Stocks 828,424 696,729
Debtors 5 1,114,994 1,086,443
Cash at bank and in hand 24,038 68,993
1,967,456 1,852,165
CREDITORS
Amounts falling due within one year 6 1,296,770 1,313,440
NET CURRENT ASSETS 670,686 538,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,122,752

1,005,942

CREDITORS
Amounts falling due after more than
one year

7

(145,955

)

(163,258

)

PROVISIONS FOR LIABILITIES 10 (14,293 ) (14,650 )
NET ASSETS 962,504 828,034

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 962,502 828,032
SHAREHOLDERS' FUNDS 962,504 828,034

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

QUEST 4 ALLOYS LIMITED (REGISTERED NUMBER: 02857040)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:




A R Jones - Director



D J Smith - Director


QUEST 4 ALLOYS LIMITED (REGISTERED NUMBER: 02857040)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Quest 4 Alloys Limited 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.

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.
Freehold property and improvements - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% 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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

QUEST 4 ALLOYS LIMITED (REGISTERED NUMBER: 02857040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Freehold
property Fixtures
and Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 574,391 91,011 13,107 42,334 720,843
Additions 3,584 - 594 - 4,178
At 31 March 2023 577,975 91,011 13,701 42,334 725,021
DEPRECIATION
At 1 April 2022 120,780 89,943 6,797 36,106 253,626
Charge for year 11,561 287 1,253 6,228 19,329
At 31 March 2023 132,341 90,230 8,050 42,334 272,955
NET BOOK VALUE
At 31 March 2023 445,634 781 5,651 - 452,066
At 31 March 2022 453,611 1,068 6,310 6,228 467,217

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 706,759 708,650
Amounts owed by participating interests 336,047 312,353
Other debtors 72,188 65,440
1,114,994 1,086,443

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 660,423 691,439
Hire purchase contracts (see note 8)
-

5,385
Trade creditors 474,767 503,578
Taxation and social security 134,356 96,301
Other creditors 27,224 16,737
1,296,770 1,313,440

QUEST 4 ALLOYS LIMITED (REGISTERED NUMBER: 02857040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 145,955 163,258

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
payable by instalments 79,189 91,214
79,189 91,214

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year - 5,385

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 642,271 673,495
Bank loans 164,107 181,202
Hire purchase contracts - 5,385
806,378 860,082

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 14,293 14,650

QUEST 4 ALLOYS LIMITED (REGISTERED NUMBER: 02857040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 14,650
Utilised during year (357 )
Balance at 31 March 2023 14,293