Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity5false2023-04-015truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01527006 2023-04-01 2024-03-31 01527006 2022-04-01 2023-03-31 01527006 2024-03-31 01527006 2023-03-31 01527006 c:Director1 2023-04-01 2024-03-31 01527006 d:FurnitureFittings 2023-04-01 2024-03-31 01527006 d:FurnitureFittings 2024-03-31 01527006 d:FurnitureFittings 2023-03-31 01527006 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01527006 d:Goodwill 2023-04-01 2024-03-31 01527006 d:Goodwill 2024-03-31 01527006 d:Goodwill 2023-03-31 01527006 d:ComputerSoftware 2024-03-31 01527006 d:ComputerSoftware 2023-03-31 01527006 d:CurrentFinancialInstruments 2024-03-31 01527006 d:CurrentFinancialInstruments 2023-03-31 01527006 d:Non-currentFinancialInstruments 2024-03-31 01527006 d:Non-currentFinancialInstruments 2023-03-31 01527006 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01527006 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01527006 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01527006 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01527006 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 01527006 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 01527006 d:ShareCapital 2024-03-31 01527006 d:ShareCapital 2023-03-31 01527006 d:RetainedEarningsAccumulatedLosses 2024-03-31 01527006 d:RetainedEarningsAccumulatedLosses 2023-03-31 01527006 c:OrdinaryShareClass1 2023-04-01 2024-03-31 01527006 c:OrdinaryShareClass1 2024-03-31 01527006 c:OrdinaryShareClass1 2023-03-31 01527006 c:FRS102 2023-04-01 2024-03-31 01527006 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01527006 c:FullAccounts 2023-04-01 2024-03-31 01527006 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01527006 2 2023-04-01 2024-03-31 01527006 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 01527006 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 01527006 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01527006










QUENELLES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
QUENELLES LIMITED
REGISTERED NUMBER: 01527006

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
154,623
172,008

Tangible assets
 5 
1,489
12,099

  
156,112
184,107

Current assets
  

Debtors: amounts falling due within one year
 6 
81,500
113,389

Cash at bank and in hand
 7 
126,209
94,817

  
207,709
208,206

Creditors: amounts falling due within one year
 8 
(201,914)
(158,915)

Net current assets
  
 
 
5,795
 
 
49,291

Total assets less current liabilities
  
161,907
233,398

Creditors: amounts falling due after more than one year
 9 
(12,490)
(22,684)

Provisions for liabilities
  

Deferred tax
  
(2,816)
(2,299)

  
 
 
(2,816)
 
 
(2,299)

Net assets
  
146,601
208,415


Capital and reserves
  

Called up share capital 
 11 
201
201

Profit and loss account
  
146,400
208,214

  
146,601
208,415

Page 1

 
QUENELLES LIMITED
REGISTERED NUMBER: 01527006
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 profit and loss account 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 by: 




P J Wright
Director

Date: 23 August 2024

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
QUENELLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Quenelles Limited, 01527006, is a private limited company registered in England and Wales with a registered and principal place of business is 1 Bagely House, Bagley, Ellesmere, Shropshire, SY12 9BY.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

Page 3

 
QUENELLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
QUENELLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life.

Other 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.

 
2.8

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
reducing balance

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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
QUENELLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 6

 
QUENELLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 April 2023
286,371
180,000
466,371



At 31 March 2024

286,371
180,000
466,371



Amortisation


At 1 April 2023
114,362
180,000
294,362


Charge for the year on owned assets
17,386
-
17,386



At 31 March 2024

131,748
180,000
311,748



Net book value



At 31 March 2024
154,623
-
154,623



At 31 March 2023
172,008
-
172,008



Page 7

 
QUENELLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
120,429


Additions
919


Disposals
(119,224)



At 31 March 2024

2,124



Depreciation


At 1 April 2023
108,331


Charge for the year on owned assets
210


Disposals
(107,906)



At 31 March 2024

635



Net book value



At 31 March 2024
1,489



At 31 March 2023
12,099


6.


Debtors

2024
2023
£
£


Trade debtors
47,788
62,344

Amounts owed by group undertakings
-
14,586

Other debtors
33,287
34,112

Prepayments and accrued income
425
2,347

81,500
113,389


Page 8

 
QUENELLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
126,209
94,817

126,209
94,817



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,950
9,705

Trade creditors
7,087
-

Amounts owed to group undertakings
7,253
-

Corporation tax
41,264
30,014

Other taxation and social security
13,685
4,575

Other creditors
382
648

Accruals and deferred income
122,293
113,973

201,914
158,915



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,490
22,684

12,490
22,684


Page 9

 
QUENELLES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,950
9,705


9,950
9,705


Amounts falling due 2-5 years

Bank loans
12,490
22,684


12,490
22,684


22,440
32,389



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



201 (2023 - 201) Ordinary shares of £1.00 each
201
201


 
Page 10