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REGISTERED NUMBER: 07588822 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Quest Joinery Ltd

Quest Joinery Ltd (Registered number: 07588822)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quest Joinery Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J Theakston
A Jackson
B Algate





REGISTERED OFFICE: 4-8 Maxted Park
Maxted Road
Hemel Hempstead
Hertfordshire
HP2 7EP





REGISTERED NUMBER: 07588822 (England and Wales)





ACCOUNTANTS: Pace Accountants
Noble House
Eaton Road
Hemel Hempstead
Hertfordshire
HP2 7UB

Quest Joinery Ltd (Registered number: 07588822)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 702,370 787,690

CURRENT ASSETS
Stocks 74,349 848,561
Debtors 5 1,602,855 1,161,588
Cash in hand 192,636 201,272
1,869,840 2,211,421
CREDITORS
Amounts falling due within one year 6 1,065,601 1,576,209
NET CURRENT ASSETS 804,239 635,212
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,506,609

1,422,902

CREDITORS
Amounts falling due after more than one
year

7

(228,244

)

(342,456

)

PROVISIONS FOR LIABILITIES (145,891 ) (60,612 )
NET ASSETS 1,132,474 1,019,834

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,132,374 1,019,734
1,132,474 1,019,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 Joinery Ltd (Registered number: 07588822)

Balance Sheet - continued
30 April 2024


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 Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





J Theakston - Director


Quest Joinery Ltd (Registered number: 07588822)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Quest Joinery Ltd 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.

Preparation of consolidated financial statements
The financial statements contain information about Quest Joinery Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 10% on cost and 10% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Quest Joinery Ltd (Registered number: 07588822)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 42 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 93,572 783,616 149,520
Additions - 1,542 2,004
At 30 April 2024 93,572 785,158 151,524
DEPRECIATION
At 1 May 2023 28,072 218,804 38,436
Charge for year 9,357 56,635 11,309
At 30 April 2024 37,429 275,439 49,745
NET BOOK VALUE
At 30 April 2024 56,143 509,719 101,779
At 30 April 2023 65,500 564,812 111,084

Quest Joinery Ltd (Registered number: 07588822)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 35,641 113,857 1,176,206
Additions - - 3,546
At 30 April 2024 35,641 113,857 1,179,752
DEPRECIATION
At 1 May 2023 3,564 99,640 388,516
Charge for year 3,208 8,357 88,866
At 30 April 2024 6,772 107,997 477,382
NET BOOK VALUE
At 30 April 2024 28,869 5,860 702,370
At 30 April 2023 32,077 14,217 787,690

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 571,300 35,641 606,941
Transfer to ownership (145,500 ) - (145,500 )
At 30 April 2024 425,800 35,641 461,441
DEPRECIATION
At 1 May 2023 140,485 3,564 144,049
Charge for year 34,490 3,208 37,698
Transfer to ownership (59,584 ) - (59,584 )
At 30 April 2024 115,391 6,772 122,163
NET BOOK VALUE
At 30 April 2024 310,409 28,869 339,278
At 30 April 2023 430,815 32,077 462,892

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,107,625 867,920
Amounts owed by group undertakings 186,711 11
Other debtors 308,519 293,657
1,602,855 1,161,588

Quest Joinery Ltd (Registered number: 07588822)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 43,636 43,636
Hire purchase contracts (see note 8) 70,576 112,049
Trade creditors 532,526 705,931
Taxation and social security 186,822 231,110
Other creditors 232,041 483,483
1,065,601 1,576,209

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 87,273 130,909
Hire purchase contracts (see note 8) 140,971 211,547
228,244 342,456

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 70,576 112,049
Between one and five years 140,971 211,547
211,547 323,596

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 364,131 348,728
Between one and five years 310,128 600,859
674,259 949,587

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 211,547 323,596

10. RELATED PARTY DISCLOSURES

Loans from Directors outstanding at the year end amounted to £303 [2023 £303].

Quest Joinery Ltd (Registered number: 07588822)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. ULTIMATE CONTROLLING PARTY

The controlling party is Quest Group Companies Ltd.