Caseware UK (AP4) 2024.0.164 2024.0.164 22falsetrue2023-07-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13159050 2023-07-01 2024-06-30 13159050 2022-07-01 2023-06-30 13159050 2024-06-30 13159050 2023-06-30 13159050 c:Director1 2023-07-01 2024-06-30 13159050 d:CurrentFinancialInstruments 2024-06-30 13159050 d:CurrentFinancialInstruments 2023-06-30 13159050 d:ShareCapital 2024-06-30 13159050 d:ShareCapital 2023-06-30 13159050 d:RetainedEarningsAccumulatedLosses 2024-06-30 13159050 d:RetainedEarningsAccumulatedLosses 2023-06-30 13159050 c:OrdinaryShareClass1 2023-07-01 2024-06-30 13159050 c:OrdinaryShareClass1 2024-06-30 13159050 c:OrdinaryShareClass1 2023-06-30 13159050 c:FRS102 2023-07-01 2024-06-30 13159050 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13159050 c:FullAccounts 2023-07-01 2024-06-30 13159050 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13159050 6 2023-07-01 2024-06-30 13159050 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13159050










Quortune Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2024

 
Quortune Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Quortune Limited for the year ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quortune Limited for the year ended 30 June 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Quortune Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Quortune Limited and state those matters that we have agreed to state to the Board of directors of Quortune Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quortune Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Quortune 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 Quortune Limited. You consider that Quortune Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Quortune 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ
26 March 2025
Page 1

 
Quortune Limited
Registered number: 13159050

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,002
1,002

  
1,002
1,002

Current assets
  

Debtors: amounts falling due within one year
 5 
1,450,000
-

Cash at bank and in hand
  
2
2

  
1,450,002
2

Total assets less current liabilities
  
 
 
1,451,004
 
 
1,004

  

Net assets
  
1,451,004
1,004


Capital and reserves
  

Called up share capital 
 6 
1,004
1,004

Profit and loss account
  
1,450,000
-

  
1,451,004
1,004


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 March 2025.




James Adebayo
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
Quortune Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

Quortune Limited is a private company limited by shares and is incorporated in England with the registration number 13159050. The address of the registered office is The Engine House Bexley Studio 52, 2 Veridion Way, Erith, Kent, DA18 4AL. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3

 
Quortune Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
1,002



At 30 June 2024
1,002





5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
1,450,000
-



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,004 (2023 - 1,004) Ordinary shares of £1.00 each
1,004
1,004



7.


Contingent liabilities

The company is party to a composite cross guarantee fixed charge and negative pledge given to Lloyds Bank Plc, covering the bank loan of the companies within the Quortune Limited group of companies. The potential liability at the balance sheet date was £979,012 (2023: £1,100,817).
The company also has a debenture given to Lloyds Bank Plc, secured by fixed and floating charge, and negative pledge over all of the assets and undertakings of the company. 


8.


Related party transaction

During the year the company paid dividends to those directors who were also shareholders in the company totalling £25,000 (2023: £74,834). All other transactions with related parties that arose during the current and prior years were done so under normal market conditions. 


Page 4