Bright AccountsProduction v1.0.0 v1.0.0 2022-07-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of vessel charter,equipment hire and marine-related operational support. 19 December 2023 1 1 01997417 2023-06-30 01997417 2022-06-30 01997417 2021-06-30 01997417 2022-07-01 2023-06-30 01997417 2021-07-01 2022-06-30 01997417 uk-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01997417 uk-curr:PoundSterling 2022-07-01 2023-06-30 01997417 uk-bus:AbridgedAccounts 2022-07-01 2023-06-30 01997417 uk-core:ShareCapital 2023-06-30 01997417 uk-core:ShareCapital 2022-06-30 01997417 uk-core:RevaluationReserve 2023-06-30 01997417 uk-core:RevaluationReserve 2022-06-30 01997417 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 01997417 uk-core:RetainedEarningsAccumulatedLosses 2022-06-30 01997417 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 01997417 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-06-30 01997417 uk-bus:FRS102 2022-07-01 2023-06-30 01997417 uk-core:Buildings 2022-07-01 2023-06-30 01997417 uk-core:PlantMachinery 2022-07-01 2023-06-30 01997417 uk-core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 01997417 uk-core:MotorVehicles 2022-07-01 2023-06-30 01997417 2022-07-01 2023-06-30 01997417 uk-bus:Director1 2022-07-01 2023-06-30 01997417 uk-bus:Director2 2022-07-01 2023-06-30 01997417 uk-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
Quest Holdings Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 June 2023



Quest Holdings Ltd
Company Registration Number: 01997417
ABRIDGED BALANCE SHEET
as at 30 June 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 169,669 169,546
───────── ─────────
 
Current Assets
Debtors 42,511 13,553
Cash at bank and in hand 74,822 76,314
───────── ─────────
117,333 89,867
───────── ─────────
Creditors: amounts falling due within one year (1,786) (21,590)
───────── ─────────
Net Current Assets 115,547 68,277
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Total Assets less Current Liabilities 285,216 237,823
 
Creditors:
amounts falling due after more than one year (117,082) -
───────── ─────────
Net Assets 168,134 237,823
═════════ ═════════
 
Capital and Reserves
Called up share capital 1,000 1,000
Revaluation reserve 29,842 29,842
Retained earnings 137,292 206,981
───────── ─────────
Shareholders' Funds 168,134 237,823
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 19 December 2023 and signed on its behalf by
           
           
________________________________     ________________________________
Mr. H J Wiltshire     Mrs. T M Wiltshire
Director     Director
           



Quest Holdings Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 June 2023

   
1. General Information
 
Quest Holdings Ltd is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 01997417. The registered office of the company is The Old Farmhouse, Hethfelton Hollow, East Stoke, Wareham, Dorset, BH20 6HJ, England which is also the principal place of business of the company. The principal activity of the company is that of vessel charter,equipment hire and marine-related operational support. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 June 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Boats - 0% Straight line
  Plant and machinery - 25% Reducing balance
  Fixtures, fittings and equipment - 25% Reducing balance
  Motor vehicles - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
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.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 1, (2022 - 1).
 
  2023 2022
  Number Number
 
Director 1 1
  ═════════ ═════════
             
4. Tangible assets
  Boats Plant and Fixtures, Motor Total
    machinery fittings and vehicles  
      equipment    
  £ £ £ £ £
Cost
At 1 July 2022 168,329 10,372 630 14,552 193,883
Additions - 1,269 - - 1,269
  ───────── ───────── ───────── ───────── ─────────
At 30 June 2023 168,329 11,641 630 14,552 195,152
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 July 2022 - 9,548 431 14,358 24,337
Charge for the financial year - 1,047 50 49 1,146
  ───────── ───────── ───────── ───────── ─────────
At 30 June 2023 - 10,595 481 14,407 25,483
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 30 June 2023 168,329 1,046 149 145 169,669
  ═════════ ═════════ ═════════ ═════════ ═════════
At 30 June 2022 168,329 824 199 194 169,546
  ═════════ ═════════ ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 June 2023.
   
6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.