Acorah Software Products - Accounts Production 16.0.110 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 03864190 Mrs Brenda Davis Mr Abraham Hochshteadt ELG Management Ltd 21 Wingate Road Gosport PO12 4DR false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03864190 2023-06-30 03864190 2024-06-30 03864190 2023-07-01 2024-06-30 03864190 frs-core:CurrentFinancialInstruments 2024-06-30 03864190 frs-core:Non-currentFinancialInstruments 2024-06-30 03864190 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 03864190 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 03864190 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03864190 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 03864190 frs-core:MotorVehicles 2023-07-01 2024-06-30 03864190 frs-core:PlantMachinery 2024-06-30 03864190 frs-core:PlantMachinery 2023-07-01 2024-06-30 03864190 frs-core:PlantMachinery 2023-06-30 03864190 frs-core:SharePremium 2024-06-30 03864190 frs-core:ShareCapital 2024-06-30 03864190 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 03864190 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03864190 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 03864190 frs-bus:SmallEntities 2023-07-01 2024-06-30 03864190 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03864190 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03864190 1 2023-07-01 2024-06-30 03864190 frs-core:UnlistedNon-exchangeTraded 2024-06-30 03864190 frs-core:UnlistedNon-exchangeTraded 2023-06-30 03864190 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-06-30 03864190 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 03864190 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-06-30 03864190 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-06-30 03864190 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 03864190 frs-bus:Director1 2023-07-01 2024-06-30 03864190 frs-bus:Director2 2023-07-01 2024-06-30 03864190 frs-countries:EnglandWales 2023-07-01 2024-06-30 03864190 2022-06-30 03864190 2023-06-30 03864190 2022-07-01 2023-06-30 03864190 frs-core:CurrentFinancialInstruments 2023-06-30 03864190 frs-core:Non-currentFinancialInstruments 2023-06-30 03864190 frs-core:SharePremium 2023-06-30 03864190 frs-core:ShareCapital 2023-06-30 03864190 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 03864190
Quaestus Yachts Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03864190
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,560,908 800,382
Investments 5 2,638,850 3,900,000
6,199,758 4,700,382
CURRENT ASSETS
Stocks 6 870,000 1,170,000
Debtors 7 30,453 208,668
Cash at bank and in hand 254 254
900,707 1,378,922
Creditors: Amounts Falling Due Within One Year 8 (110,691 ) (433,380 )
NET CURRENT ASSETS (LIABILITIES) 790,016 945,542
TOTAL ASSETS LESS CURRENT LIABILITIES 6,989,774 5,645,924
Creditors: Amounts Falling Due After More Than One Year 9 (3,329,643 ) (2,089,571 )
NET ASSETS 3,660,131 3,556,353
CAPITAL AND RESERVES
Called up share capital 10 1,059,137 1,059,137
Share premium account 1,116,485 1,116,485
Profit and Loss Account 1,484,509 1,380,731
SHAREHOLDERS' FUNDS 3,660,131 3,556,353
Page 1
Page 2
For the year ending 30 June 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Brenda Davis
Director
18 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Quaestus Yachts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03864190 . The registered office is 4-5 Firefly Road, Hamble Point Marina, School Lane, Hamble, SO31 4JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% reducing balance basis
Leasehold 2% reducing balance basis
Plant & Machinery 10% Reducing balance basis
Motor Vehicles 5% Reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 July 2023 130,000 670,382 800,382
Additions - 2,760,526 2,760,526
As at 30 June 2024 130,000 3,430,908 3,560,908
Net Book Value
As at 30 June 2024 130,000 3,430,908 3,560,908
As at 1 July 2023 130,000 670,382 800,382
5. Investments
Unlisted
£
Cost
As at 1 July 2023 3,900,000
Disposals (1,261,150 )
As at 30 June 2024 2,638,850
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 2,638,850
As at 1 July 2023 3,900,000
6. Stocks
2024 2023
£ £
Materials 20,000 20,000
Work in progress 850,000 1,150,000
870,000 1,170,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 120,000
Prepayments and accrued income 30,427 30,427
Other debtors 26 26
Corporation tax recoverable assets - 58,215
30,453 208,668
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) 190,801
Bank loans and overdrafts 96,780 100,925
Other taxes and social security - 28,370
VAT 13,912 113,284
110,691 433,380
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 255,184 332,075
Other creditors 1,871,001 722,038
Directors loan account 265,609 265,609
Amounts owed to subsidiaries 937,849 769,849
3,329,643 2,089,571
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,059,137 1,059,137
11. Parent Undertaking and Controlling Party
The company's immediate and parent undertaking is ELG Management Ltd . ELG Management Ltd was incorporated in England and Wales. Copies of the group accounts may be obtained from the secretary, 21 Wingate Road Gosport PO12 4DR . The controlling party is ELG Management Ltd who controls 94% of the shares of Quaestus Yachts Ltd .
Page 5