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REGISTERED NUMBER: 02332480 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ADDQUEST LIMITED

ADDQUEST LIMITED (REGISTERED NUMBER: 02332480)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ADDQUEST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr I Heard





SECRETARY: Mr I Heard





REGISTERED OFFICE: North Lodge East
Wynyard
Billingham
TS22 5NQ





REGISTERED NUMBER: 02332480 (England and Wales)





ACCOUNTANTS: Lyons & Co Ltd
23 Yarm Road
Stockton on Tees
TS18 3NJ

ADDQUEST LIMITED (REGISTERED NUMBER: 02332480)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 150,000 150,000

CURRENT ASSETS
Debtors 28,470 28,431
Cash at bank 99,134 89,274
127,604 117,705
CREDITORS
Amounts falling due within one year 27,241 24,294
NET CURRENT ASSETS 100,363 93,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

250,363

243,411

PROVISIONS FOR LIABILITIES 16,463 16,463
NET ASSETS 233,900 226,948

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 5 70,182 70,182
Retained earnings 163,618 156,666
SHAREHOLDERS' FUNDS 233,900 226,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ADDQUEST LIMITED (REGISTERED NUMBER: 02332480)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 September 2024 and were signed by:





Mr I Heard - Director


ADDQUEST LIMITED (REGISTERED NUMBER: 02332480)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Addquest Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment properties
No depreciation is provided in respect of investment properties. Although the Companies Act 2006 would normally require the systematic depreciation of fixed assets, it is believed that this policy of not providing depreciation is necessary in order for the accounts to give a true and fair view, since the current value of investment properties and changes in that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the annual valuation, and the amount which might otherwise have been shown cannot be separately identified or quantified.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

ADDQUEST LIMITED (REGISTERED NUMBER: 02332480)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 150,000
NET BOOK VALUE
At 31 December 2023 150,000
At 31 December 2022 150,000

Investment properties are valued annually by the directors. Their original cost was £63,355.

5. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 70,182

6. RELATED PARTY DISCLOSURES

The loan shown in these accounts is in respect of £28,470 (2022 £28,431) owed by a company controlled by the shareholders. During the year, the company received interest of £829 (2022 £828) on this loan.

7. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and preceding year by Mr I Heard and Mr J Richardson.