0 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 2435038 2023-04-01 2024-03-31 2435038 2024-03-31 2435038 2023-03-31 2435038 2022-04-01 2023-03-31 2435038 2023-03-31 2435038 2022-03-31 2435038 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 2435038 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 2435038 bus:Director1 2023-04-01 2024-03-31 2435038 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 2435038 core:FurnitureFittingsToolsEquipment 2024-03-31 2435038 core:WithinOneYear 2024-03-31 2435038 core:WithinOneYear 2023-03-31 2435038 core:ShareCapital 2024-03-31 2435038 core:ShareCapital 2023-03-31 2435038 core:RevaluationReserve 2024-03-31 2435038 core:RevaluationReserve 2023-03-31 2435038 core:RetainedEarningsAccumulatedLosses 2024-03-31 2435038 core:RetainedEarningsAccumulatedLosses 2023-03-31 2435038 bus:OrdinaryShareClass1 core:ShareCapital 2024-03-31 2435038 bus:OrdinaryShareClass1 core:ShareCapital 2023-03-31 2435038 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 2435038 bus:SmallEntities 2023-04-01 2024-03-31 2435038 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 2435038 bus:FullAccounts 2023-04-01 2024-03-31 2435038 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 2435038 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 2435038 bus:OrdinaryShareClass1 2024-03-31 2435038 bus:OrdinaryShareClass1 2023-03-31
Company registration number: 2435038
Questa Securities Limited
Unaudited filleted financial statements
31 March 2024
Questa Securities Limited
Contents
Balance sheet
Notes to the financial statements
Questa Securities Limited
Balance sheet
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 194,000 194,000
_______ _______
194,000 194,000
Current assets
Debtors 6 100 100
Cash at bank and in hand 198,361 198,256
_______ _______
198,461 198,356
Creditors: amounts falling due
within one year 7 ( 41,756) ( 40,187)
_______ _______
Net current assets 156,705 158,169
_______ _______
Total assets less current liabilities 350,705 352,169
Provisions for liabilities ( 13,605) ( 13,605)
_______ _______
Net assets 337,100 338,564
_______ _______
Capital and reserves
Called up share capital 8 100 100
Revaluation reserve 107,774 107,774
Profit and loss account 229,226 230,690
_______ _______
Shareholders funds 337,100 338,564
_______ _______
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr J.N. Powell
Director
Company registration number: 2435038
Questa Securities Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Brynawelon, Tregaer, Monmouth, Monmouthshire, NP25 4DT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. All of the financial instruments applying to the company are basic as defined in the Accounting Standard, and as such are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2023 and 31 March 2024 194,000 2,451 196,451
_______ _______ _______
Depreciation
At 1 April 2023 and 31 March 2024 - 2,451 2,451
_______ _______ _______
Carrying amount
At 31 March 2024 194,000 - 194,000
_______ _______ _______
At 31 March 2023 194,000 - 194,000
_______ _______ _______
Investment property
The investment properties were valued by the director based on his knowledge of the property market as at 31 March 2024.
6. Debtors
2024 2023
£ £
Other debtors 100 100
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Loan 36,193 36,193
Director loan accounts 4,891 3,322
Other creditors 672 672
_______ _______
41,756 40,187
_______ _______
8. Called up share capital
Issued and called up
2024 2023
No £ No £
Ordinary shares shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
Issued and partly paid
2024 2023
No £ No £
Ordinary shares shares of £ 1.00 each - £ - paid 100 - 100 -
_______ _______ _______ _______