Company Registration No. 11872191 (England and Wales)
QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
St Matthews House
Haugh Lane
Hexham
Northumberland
NE46 3PU
QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
CONTENTS
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
12,500
Tangible assets
5
224,896
188,165
224,896
200,665
Current assets
Work in progress
41,726
12,045
Debtors
6
506,495
504,325
Cash at bank and in hand
723,064
805,789
1,271,285
1,322,159
Creditors: amounts falling due within one year
7
(604,073)
(694,991)
Net current assets
667,212
627,168
Total assets less current liabilities
892,108
827,833
Creditors: amounts falling due after more than one year
8
(7,212)
(21,600)
Provisions for liabilities
(37,011)
(26,125)
Net assets
847,885
780,108
Capital and reserves
Called up share capital
9
12
12
Profit and loss reserves
847,873
780,096
Total equity
847,885
780,108
QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 7 May 2025 and are signed on its behalf by:
Mr C A Firth
Director
Company registration number 11872191 (England and Wales)
QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Quora Group Service Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Hedley Court, Orion Business Park, North Shields, Tyne & Wear, NE29 7ST.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

 

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line
Plant and equipment
25% reducing balance
Fixtures and fittings
33% straight line
Computers
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
15
QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
150,000
Amortisation and impairment
At 1 January 2024
137,500
Amortisation charged for the year
12,500
At 31 December 2024
150,000
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
12,500
5
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2024
84,385
7,643
30,399
9,851
93,097
225,375
Additions
-
0
-
0
3,892
1,583
70,986
76,461
At 31 December 2024
84,385
7,643
34,291
11,434
164,083
301,836
Depreciation and impairment
At 1 January 2024
720
4,399
2,607
2,837
26,647
37,210
Depreciation charged in the year
8,643
1,619
10,024
2,933
16,511
39,730
At 31 December 2024
9,363
6,018
12,631
5,770
43,158
76,940
Carrying amount
At 31 December 2024
75,022
1,625
21,660
5,664
120,925
224,896
At 31 December 2023
83,665
3,244
27,792
7,014
66,450
188,165
QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
446,638
398,805
Amounts owed by group undertakings
46,022
-
0
Other debtors
13,835
105,520
506,495
504,325
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
14,400
14,400
Trade creditors
357,869
375,713
Amounts owed to group undertakings
1,747
8,594
Corporation tax
73,673
109,397
Other taxation and social security
130,269
165,071
Other creditors
26,115
21,816
604,073
694,991
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,212
21,600
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
114
114
11
11
'A' Ordinary shares of 10p each
6
6
1
1
120
120
12
12
QUORA GROUP SERVICE LIMITED
(FORMERLY GFA GASTECH SERVICE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
94,415
66,736
11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

At the balance sheet date the company was owed £46,022 (2023 - £6,847 owed to) from GFA Gastech Limited and owed £1,747 (2023 - £1,747) to Energytech Limited, companies which are under the joint control of the director Mr C A Firth and his wife Mrs N Firth.

12
Parent company

The parent company, Jack Jacobs Holdings Limited is under the joint control of the director Mr C A Firth and his wife Mrs N Firth, Dividends of £116,154 were paid to Jack Jacobs Holdings Limited during the year (2023 - £36,000).

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