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REGISTERED NUMBER: 02775165 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Remotequest Projects Limited

Remotequest Projects Limited (Registered number: 02775165)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Remotequest Projects Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: N D Morgan
S J Smith





SECRETARY: N D Morgan





REGISTERED OFFICE: Woodside Industrial Estate
Usk
Monmouthshire
NP15 1SS





REGISTERED NUMBER: 02775165 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Remotequest Projects Limited (Registered number: 02775165)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,378,025 1,286,513

CURRENT ASSETS
Debtors 6 672,603 630,342
Cash at bank 46,764 36,399
719,367 666,741
CREDITORS
Amounts falling due within one year 7 384,559 315,153
NET CURRENT ASSETS 334,808 351,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,712,833

1,638,101

PROVISIONS FOR LIABILITIES 130,977 116,389
NET ASSETS 1,581,856 1,521,712

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,581,756 1,521,612
SHAREHOLDERS' FUNDS 1,581,856 1,521,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Remotequest Projects Limited (Registered number: 02775165)

Balance Sheet - continued
30 June 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 and authorised for issue by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:




N D Morgan - Director



S J Smith - Director


Remotequest Projects Limited (Registered number: 02775165)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Remotequest Projects Limited is a private company, limited by shares and is incorporated in England and Wales. The company's registered number is 02775165. The address of its registered office and its principal place of business is Woodside Works, Usk, Mon., NP15 1SS.

These financial statements are the company's separate financial statements, covering the year to 30 June 2024 and are presented in Sterling (£), the company's functional currency, rounded to the nearest pound.

The accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

2. STATEMENT OF COMPLIANCE

The individual financial statements of Remotequest Projects Limited have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Non derivative financial instrument
Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and interest free loans.

Debtors and creditors with no stated interest rate are receivable or payable within one year and are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents comprise cash at bank and in hand.

Loans and borrowings and concessionary loans are initially recognised at 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 finance transaction it is measured at present value. Loans and borrowings receivable within one year are not discounted.


Remotequest Projects Limited (Registered number: 02775165)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 342,036 2,228,873 2,570,909
Additions 5,746 319,243 324,989
Disposals - (297,036 ) (297,036 )
At 30 June 2024 347,782 2,251,080 2,598,862
DEPRECIATION
At 1 July 2023 - 1,284,396 1,284,396
Charge for year - 186,294 186,294
Eliminated on disposal - (249,853 ) (249,853 )
At 30 June 2024 - 1,220,837 1,220,837
NET BOOK VALUE
At 30 June 2024 347,782 1,030,243 1,378,025
At 30 June 2023 342,036 944,477 1,286,513

Remotequest Projects Limited (Registered number: 02775165)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 672,603 630,342

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 6,575 910
Taxation and social security 38,802 36,811
Other creditors 339,182 277,432
384,559 315,153

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

At the year end, included in creditors is the sum of £3,000 (2023: £3,000) owed to key management personnel. No interest has been charged on this outstanding amount.

During the year, transactions were entered into with entities under the common control of key management personnel as follows:

Expenditure includes costs of £42,605 (2023: £42,395).
Sales includes £302,617 (2023: £298,146).

At the year end, included in debtors is £665,741 (2023: £604,510) and included in creditors is the sum of £332,902 (2023: £272,342) owed by and to entities under the common control of key management personnel. There is no fixed repayment date on these amounts and no interest has been charged.