REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
DATAQUEST (TECHNOLOGY) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
DATAQUEST (TECHNOLOGY) LIMITED |
DATAQUEST (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 05060096) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
DATAQUEST (TECHNOLOGY) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and |
Statutory Auditors |
50 Seymour Street |
London |
W1H 7JG |
DATAQUEST (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 05060096) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Capital redemption reserve | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DATAQUEST (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 05060096) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Dataquest (Technology) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared on a going concern basis, under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value. |
Going concern |
The company is part of the Group headed by Dataquest Group Limited ("The Group") and its trading subsidiary is party to a cross guarantee over the Group's funding facilities. The directors have therefore completed an assessment of the going concern based on the Group's position which is considered necessary as a result of the cross guarantee for a period of at least twelve months following the approval of each Group entity's financial statements (the going concern assessment period). |
In carrying out their duties in respect of going concern, the directors have reviewed the Group's cashflow forecasts, liquidity, borrowing facilities and related covenant requirements and the operational activities of the company and the Group. The company and the Group continue to have the backing of their shareholders and major stakeholders. The Group, due to the unexpected rises in interest rates, has breached its bank loan covenants, however, the bank continues to be supportive and as a consequence have not taken any action at present. However, the bank has stated that it reserves its rights to take any action in the future that it deems appropriate in respect of any relevant defaults. |
Subsequent to the year end, the bank has agreed to extend the current loan facilities to 29 October 2025. |
As such the directors anticipate that the company and the Group will have sufficient funds to meet its liabilities without compromising its working capital requirements for a period of 12 months from the date of signing these financial statements. |
The directors, therefore, consider that it is appropriate to prepare the accounts on a going concern basis. |
DATAQUEST (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 05060096) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
3. | ACCOUNTING POLICIES - continued |
Preparation of consolidated financial statements |
The financial statements contain information about Dataquest (Technology) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Dataquest Group Limited, 24 Chiswell Street, London EC1Y 4TY, England. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
The company has one class of ordinary shares. Ordinary shares have full rights in the company with respect to voting, dividend and capital distribution. |
DATAQUEST (TECHNOLOGY) LIMITED (REGISTERED NUMBER: 05060096) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
8. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2022 | 3,042,017 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 March 2023 | 3,042,017 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | POST BALANCE SHEET EVENTS |
No other significant events have happened between 31 March 2022 and the date of signing the financial statements. |
11. | ULTIMATE CONTROLLING PARTY |
The parent undertaking and the smallest and largest group to consolidate these financial statements is Dataquest Group Limited. Copies of the Dataquest Group Limited consolidated financial statements can be obtained from Companies House. |
The ultimate controlling party is Mr G Young, by virtue of his majority shareholding in Dataquest Group Limited. |