Company Registration No. 09096422 (England and Wales)
QUEST GLOBAL HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
QUEST GLOBAL HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
QUEST GLOBAL HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1,137,653
1,137,653
Current assets
Debtors
5
2,474
2,474
Cash at bank and in hand
523
693
Net current assets
2,997
3,167
Total assets less current liabilities
1,140,650
1,140,820
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,140,550
1,140,720
Total equity
1,140,650
1,140,820

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 5 September 2024 and are signed on its behalf by:
2024-09-05
Colin Fox
Director
Company Registration No. 09096422
QUEST GLOBAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Quest Global Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 118 Pall Mall, London, United Kingdom, SW1Y 5EA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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.

Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

QUEST GLOBAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

There were no employees in the current year or in the previous year.

3
Fixed asset investments
2023
2022
£
£
Investments
1,137,653
1,137,653
Movements in fixed asset investments
Shares in group undertakings
£
Cost
At 1 January 2023 & 31 December 2023
1,137,653
Carrying amount
At 31 December 2023
1,137,653
At 31 December 2022
1,137,653
QUEST GLOBAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Subsidiaries

These financial statements are separate company financial statements for Quest Global Holdings Limited.

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Quest Global Limited
1
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

1
118 Pall Mall, London, SW1Y 5EA
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,474
2,474
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Mandy Janes.
The auditor was HW Fisher LLP.
2023-12-312023-01-01false05 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedMartin SmithLord Stevens of KirkwhelpingtonEdward MarshbaumColin FoxRoss  SmithMr Martin SmithMr Edward MarshbaumMr Colin FoxMr Ross SmithMr Colin Foxfalsefalse0090964222023-01-012023-12-31090964222023-12-31090964222022-12-3109096422core:ShareCapital2023-12-3109096422core:ShareCapital2022-12-3109096422core:RetainedEarningsAccumulatedLosses2023-12-3109096422core:RetainedEarningsAccumulatedLosses2022-12-3109096422bus:Director42023-01-012023-12-3109096422core:Subsidiary12023-01-012023-12-3109096422core:Subsidiary112023-01-012023-12-3109096422core:CurrentFinancialInstruments2022-12-3109096422bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109096422bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109096422bus:FRS1022023-01-012023-12-3109096422bus:Audited2023-01-012023-12-3109096422bus:Director12023-01-012023-12-3109096422bus:Director22023-01-012023-12-3109096422bus:Director32023-01-012023-12-3109096422bus:Director52023-01-012023-12-3109096422bus:Director62023-01-012023-12-3109096422bus:Director72023-01-012023-12-3109096422bus:Director82023-01-012023-12-3109096422bus:Director92023-01-012023-12-3109096422bus:CompanySecretary12023-01-012023-12-3109096422bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP