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QUEST VENTURES LIMITED

Registered Number
05305978
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

QUEST VENTURES LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

BROTCHIE, Jonathan, Dr

Registered Address

2 Europe Way
Cockermouth
CA13 0RJ

Registered Number

05305978 (England and Wales)
QUEST VENTURES LIMITED
Statement of Financial Position
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets114,632114,632
114,632114,632
Current assets
Debtors24,11122,372
Cash at bank and on hand134134
24,24522,506
Creditors amounts falling due within one year4(2,035)(1,885)
Net current assets (liabilities)22,21020,621
Total assets less current liabilities136,842135,253
Net assets136,842135,253
Capital and reserves
Called up share capital11
Profit and loss account136,841135,252
Shareholders' funds136,842135,253
The financial statements were approved and authorised for issue by the Director on 22 August 2024, and are signed on its behalf by:
BROTCHIE, Jonathan, Dr
Director
Registered Company No. 05305978
QUEST VENTURES LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Statement of Income.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20232022
Average number of employees during the year11
3.Fixed asset investments
4.Creditors: amounts due within one year

2023

2022

££
Accrued liabilities and deferred income2,0351,885
Total2,0351,885
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Parent-subsidiary relationships
As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company's parent undertaking is Atuka Limited, a company registered in England and Wales, company number 04322675.