Company Registration No. 04671015 (England and Wales)
Quest Technologies (London) Limited
Unaudited accounts
for the year ended 31 March 2024
Quest Technologies (London) Limited
Unaudited accounts
Contents
Quest Technologies (London) Limited
Company Information
for the year ended 31 March 2024
Company Number
04671015 (England and Wales)
Registered Office
195 Whitecross Street
London
EC1Y 8QP
Accountants
Tuite Tang Wong
Chartered Certified Accountants
15 The Broadway
Woodford Green
Essex
IG8 0HL
Quest Technologies (London) Limited
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
69,498
30,554
Creditors: amounts falling due within one year
(121,607)
(82,584)
Net current (liabilities)/assets
(3,862)
10,767
Total assets less current liabilities
291
10,767
Creditors: amounts falling due after more than one year
-
(5,220)
Called up share capital
2
2
Profit and loss account
289
5,545
Shareholders' funds
291
5,547
For the year ending 31 March 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.
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 29 January 2025 and were signed on its behalf by
Riccardo Deiana
Director
Company Registration No. 04671015
Quest Technologies (London) Limited
Notes to the Accounts
for the year ended 31 March 2024
Quest Technologies (London) Limited is a private company, limited by shares, registered in England and Wales, registration number 04671015. The registered office is 195 Whitecross Street, London, EC1Y 8QP.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
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:
Computer equipment
25% on written down value
Quest Technologies (London) Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
39,585
48,789
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,634
2,580
Trade creditors
10,863
6,185
Taxes and social security
35,807
22,490
Other creditors
47,437
32,706
7
Creditors: amounts falling due after more than one year
2024
2023
8
Transactions with related parties
At the year end, the outstanding amount due to the director was £11,362 (2023: £3,414) and the outstanding amount due to a shareholder was £35,645 (2023: £29,026).
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).