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REGISTERED NUMBER: 02169570 (England and Wales)















QUASTEL ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






QUASTEL ASSOCIATES LIMITED (REGISTERED NUMBER: 02169570)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


QUASTEL ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr M Smith





REGISTERED OFFICE: 1 Brookmans Avenue
Brookmans Park
Hatfield
Hertfordshire
AL9 7QH





BUSINESS ADDRESS: 28 Queen Square
Bristol
BS1 4ND





REGISTERED NUMBER: 02169570 (England and Wales)





ACCOUNTANTS: P G ASSOCIATES
Accountants
1 Brookmans Avenue
Brookmans Park
Hatfield
Hertfordshire
AL9 7QH

QUASTEL ASSOCIATES LIMITED (REGISTERED NUMBER: 02169570)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 4,256 4,729
Investments 5 33,758 6,940
38,014 11,669

CURRENT ASSETS
Debtors 6 55,384 42,196
Cash at bank 9 43,081
55,393 85,277
CREDITORS
Amounts falling due within one year 7 53,328 47,822
NET CURRENT ASSETS 2,065 37,455
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,079

49,124

CREDITORS
Amounts falling due after more than one
year

8

-

37,910
NET ASSETS 40,079 11,214

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 39,979 11,114
SHAREHOLDERS' FUNDS 40,079 11,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

QUASTEL ASSOCIATES LIMITED (REGISTERED NUMBER: 02169570)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





Mr M Smith - Director


QUASTEL ASSOCIATES LIMITED (REGISTERED NUMBER: 02169570)

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


1. STATUTORY INFORMATION

Quastel Associates 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.

The financial statements are presented in sterling (£) which is also the functional currency for the company.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

QUASTEL ASSOCIATES LIMITED (REGISTERED NUMBER: 02169570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 25,394
DEPRECIATION
At 1 April 2023 20,665
Charge for year 473
At 31 March 2024 21,138
NET BOOK VALUE
At 31 March 2024 4,256
At 31 March 2023 4,729

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 6,940
Additions 26,818
At 31 March 2024 33,758
NET BOOK VALUE
At 31 March 2024 33,758
At 31 March 2023 6,940

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 31,240 20,950
Other debtors 24,144 21,246
55,384 42,196

QUASTEL ASSOCIATES LIMITED (REGISTERED NUMBER: 02169570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 13,971 16,306
Trade creditors 1 -
Taxation and social security 27,985 24,284
Other creditors 11,371 7,232
53,328 47,822

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 37,910

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £2,859 to the director (2023 - £3,650). This amount is repayable on demand and is included in Creditors due within one year.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Smith.