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Company Registration No. 9428248 (England and Wales)
QUAST LTD Unaudited accounts for filing with The Registrar for the year ended 29 February 2024
QUAST LTD Unaudited accounts for filing with The Registrar Contents
Page
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QUAST LTD Company Information for the year ended 29 February 2024
Director
Gordon Baisley
Company Number
9428248 (England and Wales)
Registered Office
98 Fishpool Street St Albans Herts AL3 4RX United Kingdom
Accountants
Andrew Yaras & Co. 2 Fishpool Street St Albans Herts AL3 4RT
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QUAST LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
265,892 
326,334 
Tangible assets
711 
343 
Investments
6,042 
69 
272,645 
326,746 
Current assets
Debtors
246,943 
311,143 
Cash at bank and in hand
39,486 
66,380 
286,429 
377,523 
Creditors: amounts falling due within one year
(209,581)
(292,059)
Net current assets
76,848 
85,464 
Net assets
349,493 
412,210 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
348,493 
411,210 
Shareholders' funds
349,493 
412,210 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Gordon Baisley Director Company Registration No. 9428248
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QUAST LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
QUAST LTD is a private company, limited by shares, registered in England and Wales, registration number 9428248. The registered office is 98 Fishpool Street, St Albans, Herts, AL3 4RX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling which is the functional currency of the business.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Taxation
Taxation represents the sum of tax currently payable. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Intangible fixed assets
Intangible fixed assets, which include cryptocurrency investments held on recognised exchanges, are included in the accounts at cost less impairment.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Computer equipment
33.33% - 50% straight line
Investments in quoted shares
Investments in quoted shares are included at fair market value. Gains or losses are recognised in the income statement.
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QUAST LTD Notes to the Accounts for the year ended 29 February 2024
Trade and other debtors
Trade and other debtors are recognised at the transaction value, less any impairment.
Creditors and provisions
Trade creditors are recognised at their transaction value. Other creditors are included at fair value.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 March 2023
326,334 
Disposals
(60,318)
At 29 February 2024
266,016 
Amortisation
At 1 March 2023
- 
Charge for the year
124 
At 29 February 2024
124 
Net book value
At 29 February 2024
265,892 
At 28 February 2023
326,334 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 March 2023
2,682 
Additions
984 
At 29 February 2024
3,666 
Depreciation
At 1 March 2023
2,339 
Charge for the year
616 
At 29 February 2024
2,955 
Net book value
At 29 February 2024
711 
At 28 February 2023
343 
6
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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