Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01No description of principal activity109falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05308465 2023-01-01 2023-12-31 05308465 2022-01-01 2022-12-31 05308465 2023-12-31 05308465 2022-12-31 05308465 c:Director1 2023-01-01 2023-12-31 05308465 d:MotorVehicles 2023-01-01 2023-12-31 05308465 d:MotorVehicles 2023-12-31 05308465 d:MotorVehicles 2022-12-31 05308465 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05308465 d:FurnitureFittings 2023-01-01 2023-12-31 05308465 d:OfficeEquipment 2023-01-01 2023-12-31 05308465 d:OfficeEquipment 2023-12-31 05308465 d:OfficeEquipment 2022-12-31 05308465 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05308465 d:ComputerEquipment 2023-01-01 2023-12-31 05308465 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05308465 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 05308465 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 05308465 d:CurrentFinancialInstruments 2023-12-31 05308465 d:CurrentFinancialInstruments 2022-12-31 05308465 d:Non-currentFinancialInstruments 2023-12-31 05308465 d:Non-currentFinancialInstruments 2022-12-31 05308465 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05308465 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05308465 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05308465 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05308465 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 05308465 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 05308465 d:ShareCapital 2023-12-31 05308465 d:ShareCapital 2022-12-31 05308465 d:RetainedEarningsAccumulatedLosses 2023-12-31 05308465 d:RetainedEarningsAccumulatedLosses 2022-12-31 05308465 c:OrdinaryShareClass1 2023-01-01 2023-12-31 05308465 c:OrdinaryShareClass1 2023-12-31 05308465 c:OrdinaryShareClass1 2022-12-31 05308465 c:FRS102 2023-01-01 2023-12-31 05308465 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05308465 c:FullAccounts 2023-01-01 2023-12-31 05308465 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05308465 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 05308465 2 2023-01-01 2023-12-31 05308465 6 2023-01-01 2023-12-31 05308465 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 05308465 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 05308465














QUEST AGENCY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
QUEST AGENCY LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
QUEST AGENCY LIMITED
REGISTERED NUMBER:05308465

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,342,298
1,188,250

Tangible assets
 5 
23,893
37,034

Investments
 6 
1
1

  
1,366,192
1,225,285

Current assets
  

Debtors: amounts falling due within one year
 7 
416,544
540,917

Bank and cash balances
  
871,718
527,209

  
1,288,262
1,068,126

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(1,370,311)
(1,075,371)

Net current liabilities
  
 
 
(82,049)
 
 
(7,245)

Creditors: amounts falling due after more than one year
 9 
-
(63,256)

  

Net assets
  
1,284,143
1,154,784


Capital and reserves
  

Called up share capital 
 11 
101
101

Profit and loss account
  
1,284,042
1,154,683

  
1,284,143
1,154,784


Page 1

 
QUEST AGENCY LIMITED
REGISTERED NUMBER:05308465
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2024.




M Stephens
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
QUEST AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Quest Agency Limited is a limited liability company registered in England and Wales. Its registered office address is at 15 West Common Grove, Harpenden, Hertfordshire, AL5 2LL
The principal activity of the Company during the year was that of management consultancy.
The financial statements are presented in £ sterling, which is the functional currency of the Company.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

 
2.3

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
QUEST AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
33%
Fixtures, fittings & equipment
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
QUEST AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 9).

Page 5

 
QUEST AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2023
1,655,602


Additions
336,933



At 31 December 2023

1,992,535



Amortisation


At 1 January 2023
467,352


Charge for the year on owned assets
182,885



At 31 December 2023

650,237



Net book value



At 31 December 2023
1,342,298



At 31 December 2022
1,188,250



Page 6

 
QUEST AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures, fittings and computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
36,000
39,316
75,316


Disposals
-
(10,515)
(10,515)



At 31 December 2023

36,000
28,801
64,801



Depreciation


At 1 January 2023
990
37,291
38,281


Charge for the year on owned assets
11,880
1,044
12,924


Disposals
-
(10,297)
(10,297)



At 31 December 2023

12,870
28,038
40,908



Net book value



At 31 December 2023
23,130
763
23,893



At 31 December 2022
35,010
2,025
37,035


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1



At 31 December 2023
1




Page 7

 
QUEST AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
398,704
533,581

Other debtors
1,500
2,000

Prepayments and accrued income
16,340
5,336

416,544
540,917



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
-
14,396

Trade creditors
600
-

Amounts owed to group undertakings
8,096
-

Other taxation and social security
366,385
315,623

Other creditors
14,360
4,866

Accruals and deferred income
980,870
740,486

1,370,311
1,075,371



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
-
63,256



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
-
14,396


Amounts falling due 2-5 years

Other loans
-
63,256


-
77,652


Page 8

 
QUEST AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,100 (2022 - 10,100) Ordinary shares of £0.01 each
101
101



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £8,326 (2022 - £7,630). Contributions totaling £623 (2022 - £541) were payable to the fund at the reporting date and are included in creditors.


13.


Related party transactions

The Company forms part of a wholly-owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.

 
Page 9