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REGISTERED NUMBER: 03336374 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Quest The Great Outdoors Limited

Quest The Great Outdoors Limited (Registered number: 03336374)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Quest The Great Outdoors Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M A Ward
R H Ward





SECRETARY: M A Ward





REGISTERED OFFICE: Brickfield Cottage
Stokes Marsh Lane
Coulston
Wiltshire
BA13 4NZ





REGISTERED NUMBER: 03336374 (England and Wales)





ACCOUNTANTS: Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF

Quest The Great Outdoors Limited (Registered number: 03336374)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,942 1,661

CURRENT ASSETS
Stocks 350 350
Debtors 5 31,127 54,114
Investments 6 99,827 85,452
Cash at bank 49,671 66,602
180,975 206,518
CREDITORS
Amounts falling due within one year 7 99,160 115,929
NET CURRENT ASSETS 81,815 90,589
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,757

92,250

CREDITORS
Amounts falling due after more than one
year

8

(12,516

)

(12,516

)

PROVISIONS FOR LIABILITIES (2,649 ) (315 )
NET ASSETS 80,592 79,419

CAPITAL AND RESERVES
Called up share capital 9 104 104
Share premium 10 8,488 8,488
Retained earnings 10 72,000 70,827
SHAREHOLDERS' FUNDS 80,592 79,419

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 directors acknowledge their 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.

Quest The Great Outdoors Limited (Registered number: 03336374)

Balance Sheet - 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 Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





M A Ward - Director


Quest The Great Outdoors Limited (Registered number: 03336374)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Quest The Great Outdoors 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Revenue from the rendering of services is only recognised when the outcome of a transaction can be estimated reliably and is then recognised according to the stage of completion of the transaction at the end of the reporting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Current asset investments
When listed investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are recognised initially, they are measured at the transaction price.

These investments are subsequently measured at fair value with changes in fair value recognised in profit or loss.

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 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.

Quest The Great Outdoors Limited (Registered number: 03336374)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classed as basic financial instruments and are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term deposits with an original maturity date of three months or less.

Loans and borrowings are classified as basic financial instruments and are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument, unless exempt from such treatment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 17,189
Additions 16,750
At 31 March 2024 33,939
DEPRECIATION
At 1 April 2023 15,528
Charge for year 4,469
At 31 March 2024 19,997
NET BOOK VALUE
At 31 March 2024 13,942
At 31 March 2023 1,661

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 30,000 48,750
Other debtors 1,127 5,364
31,127 54,114

6. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Listed investments 99,827 85,452

Quest The Great Outdoors Limited (Registered number: 03336374)

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
£    £   
Trade creditors 1,021 497
Taxation and social security 5,241 11,815
Other creditors 92,898 103,617
99,160 115,929

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 12,516 12,516

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
104 Ordinary £1 104 104

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 70,827 8,488 79,315
Profit for the year 8,173 8,173
Dividends (7,000 ) (7,000 )
At 31 March 2024 72,000 8,488 80,488

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Quest The Great Outdoors Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quest The Great Outdoors Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Quest The Great Outdoors Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quest The Great Outdoors Limited and state those matters that we have agreed to state to the Board of Directors of Quest The Great Outdoors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quest The Great Outdoors Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Quest The Great Outdoors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quest The Great Outdoors Limited. You consider that Quest The Great Outdoors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Quest The Great Outdoors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF


27 November 2024