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REGISTERED NUMBER: 08229255 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

QUABBALA LTD

QUABBALA LTD (REGISTERED NUMBER: 08229255)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


QUABBALA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: R Garcia-Quismondo





REGISTERED OFFICE: Warwick House
65-66 Queen Street
Second Floor
London
EC4R 1EB





REGISTERED NUMBER: 08229255 (England and Wales)





ACCOUNTANTS: Jamieson Stone LLP
Windsor House
40/41 Great Castle Street
London
W1W 8LU

QUABBALA LTD (REGISTERED NUMBER: 08229255)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 750 1,000

CURRENT ASSETS
Debtors 5 25,191 18,966
Cash at bank and in hand 19,125 23,370
44,316 42,336
CREDITORS
Amounts falling due within one year 6 (650,878 ) (626,477 )
NET CURRENT LIABILITIES (606,562 ) (584,141 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(605,812

)

(583,141

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (605,813 ) (583,142 )
SHAREHOLDERS' FUNDS (605,812 ) (583,141 )

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.

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 director and authorised for issue on 5 September 2024 and were signed by:





R Garcia-Quismondo - Director


QUABBALA LTD (REGISTERED NUMBER: 08229255)

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

1. STATUTORY INFORMATION

Quabbala 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.

Turnover
Turnover is the total amount receivable by the company excluding value added tax, in the ordinary course of its business for goods supplied and services provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 January 2023
and 31 December 2023 4,281
DEPRECIATION
At 1 January 2023 3,281
Charge for year 250
At 31 December 2023 3,531
NET BOOK VALUE
At 31 December 2023 750
At 31 December 2022 1,000

QUABBALA LTD (REGISTERED NUMBER: 08229255)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,330 3,060
Other debtors 12,615 12,615
VAT 8,509 895
Prepayments and accrued income 1,737 2,396
25,191 18,966

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 51,034 15,052
Social security and other taxes 1,188 723
Other creditors 578 2,392
Amounts due to associated
undertakings 519,791 528,852
Director's current account 74,842 74,842
Accruals & deferred income 3,445 4,616
650,878 626,477

7. RELATED PARTY DISCLOSURES

Quabbala Abogados & Economistas,SLP
A limited liability partnership
At 31 December 2023 the company has received loans totalling £519,791 (2022: £528,852) from Quabbala Abogados & Economistas,SLP a limited liability partnership in which the director is a member. Quabbala Abogados & Economistas SLP has agreed to defer repayment of the loans and to continue to provide ongoing financial support to the company.