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Registered number: 02530437









QUEST VITAMINS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
QUEST VITAMINS LIMITED
REGISTERED NUMBER: 02530437

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
27,901
34,362

Tangible assets
 5 
27,795
43,090

Investments
 6 
50,000
50,000

  
105,696
127,452

Current assets
  

Stocks
 7 
614,231
707,048

Debtors: amounts falling due within one year
 8 
360,161
231,696

Cash at bank and in hand
 9 
328,973
179,392

  
1,303,365
1,118,136

Creditors: amounts falling due within one year
 10 
(349,223)
(220,362)

Net current assets
  
 
 
954,142
 
 
897,774

Total assets less current liabilities
  
1,059,838
1,025,226

Creditors: amounts falling due after more than one year
 11 
(50,000)
(50,000)

Provisions for liabilities
  

Deferred tax
 12 
(6,949)
(10,780)

  
 
 
(6,949)
 
 
(10,780)

Net assets
  
1,002,889
964,446


Capital and reserves
  

Called up share capital 
 13 
10,000
10,000

Profit and loss account
  
992,889
954,446

  
1,002,889
964,446


Page 1

 
QUEST VITAMINS LIMITED
REGISTERED NUMBER: 02530437
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 27 March 2025.




M G Cook
Director

The notes on pages 5 to 14 form part of these financial statements.

Page 2

 
QUEST VITAMINS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2024
10,000
954,446
964,446


Comprehensive income for the year

Profit for the year
-
38,443
38,443
Total comprehensive income for the year
-
38,443
38,443


At 31 December 2024
10,000
992,889
1,002,889


The notes on pages 5 to 14 form part of these financial statements.

Page 3

 
QUEST VITAMINS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
10,000
1,321,483
1,331,483


Comprehensive income for the year

Profit for the year
-
32,963
32,963
Total comprehensive income for the year
-
32,963
32,963


Contributions by and distributions to owners

Dividends: Equity capital
-
(400,000)
(400,000)


Total transactions with owners
-
(400,000)
(400,000)


At 31 December 2023
10,000
954,446
964,446


The notes on pages 5 to 14 form part of these financial statements.

Page 4

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Quest Vitamins Limited is a private company limited by shares and incorporated in England.
The company's registered office is 3 Waterfront Business Park, Dudley Road, Brierley Hill, DY5 1LX.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving these financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 5

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


  
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives at a rate of 10% on cost for trademarks.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 7

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Warehouse equipment
-
Over the life of the lease
Computer licences
-
33%
Plant, machinery and computers
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

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.

 
2.14

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.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 8

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

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 the directors, during the year was as follows:


        2024
        2023
            No.
            No.







11
11

Page 9

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Trademarks

£



Cost


At 1 January 2024
62,620



At 31 December 2024

62,620



Amortisation


At 1 January 2024
28,258


Charge for the year on owned assets
6,461



At 31 December 2024

34,719



Net book value



At 31 December 2024
27,901



At 31 December 2023
34,362



Page 10

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Warehouse equipment
Plant, machinery and computers
Total

£
£
£



Cost or valuation


At 1 January 2024
5,176
77,149
82,325


Additions
-
5,990
5,990



At 31 December 2024

5,176
83,139
88,315



Depreciation


At 1 January 2024
2,071
37,164
39,235


Charge for the year on owned assets
1,348
19,937
21,285



At 31 December 2024

3,419
57,101
60,520



Net book value



At 31 December 2024
1,757
26,038
27,795



At 31 December 2023
3,105
39,985
43,090


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
50,000



At 31 December 2024
50,000




Page 11

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024



The subsidiary company detailed below is a dormant company.


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Quest Nutra Pharma Limited
3 Waterfront Business Park, Dudley Road, Brierley Hill, DY5 1LX
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Quest Nutra Pharma Limited
50,000
-


7.


Stocks

2024
2023
£
£

Finished goods
614,231
707,048

614,231
707,048



8.


Debtors

2024
2023
£
£


Trade debtors
291,348
171,836

Amounts owed by group undertakings
8,080
-

Other debtors
6,628
6,250

Prepayments and accrued income
54,105
53,610

360,161
231,696


Page 12

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
328,973
179,392

328,973
179,392



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
104,927
44,668

Corporation tax
15,672
12,003

Other taxation and social security
46,295
31,683

Other creditors
2,005
4,289

Accruals and deferred income
180,324
127,719

349,223
220,362



11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
50,000
50,000

50,000
50,000



12.


Deferred taxation




2024


£






At beginning of year
(10,780)


Utilised in year
3,831



At end of year
(6,949)

Page 13

 
QUEST VITAMINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
12.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(10,780)
(12,003)

Movement in year
3,831
1,223

(6,949)
(10,780)


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000  Ordinary shares of £1.00 each
10,000
10,000



14.


Pension commitments

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
Charge to profit or loss in respect of defined contribution schemes £9,232 (2023 - £8,770).


15.


Controlling party

At the balance sheet date the parent company of Quest Vitamins Limited is Aliya Pharmaceutical Limited and its registered office is Sea Meadow House, Blackburne Highway, PO Box 116, Road Town, Tortola, British Virgin Islands.
Aliya Pharmaceutical Limited is ultimately controlled by M A Hassam, Dr A G Hassam and Dr Z Hassam.

 
Page 14