Silverfin false 07 May 2025 07 May 2025 Timothy Lannin BSc FCA PKF Francis Clark 35,112 36,936 false true 31/12/2024 01/01/2024 31/12/2024 Mr A R H Brans 03/12/2020 Mr W E Low 27/11/2020 Mr S De Jong 07 May 2025 The principal activity of the company is wholesale of electrical household appliances. 13047829 2024-12-31 13047829 bus:Director1 2024-12-31 13047829 bus:Director2 2024-12-31 13047829 2023-12-31 13047829 core:CurrentFinancialInstruments 2024-12-31 13047829 core:CurrentFinancialInstruments 2023-12-31 13047829 core:ShareCapital 2024-12-31 13047829 core:ShareCapital 2023-12-31 13047829 core:RetainedEarningsAccumulatedLosses 2024-12-31 13047829 core:RetainedEarningsAccumulatedLosses 2023-12-31 13047829 core:OfficeEquipment 2023-12-31 13047829 core:OfficeEquipment 2024-12-31 13047829 bus:OrdinaryShareClass1 2024-12-31 13047829 core:WithinOneYear 2024-12-31 13047829 core:WithinOneYear 2023-12-31 13047829 core:BetweenOneFiveYears 2024-12-31 13047829 core:BetweenOneFiveYears 2023-12-31 13047829 2024-01-01 2024-12-31 13047829 bus:FilletedAccounts 2024-01-01 2024-12-31 13047829 bus:SmallEntities 2024-01-01 2024-12-31 13047829 bus:Audited 2024-01-01 2024-12-31 13047829 2023-01-01 2023-12-31 13047829 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13047829 bus:Director1 2024-01-01 2024-12-31 13047829 bus:Director2 2024-01-01 2024-12-31 13047829 bus:CompanySecretary1 2024-01-01 2024-12-31 13047829 core:OfficeEquipment 2024-01-01 2024-12-31 13047829 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 13047829 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13047829 (England and Wales)

THE QUEST GROUP AV LIMITED

Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

THE QUEST GROUP AV LIMITED

Financial Statements

For the financial year ended 31 December 2024

Contents

THE QUEST GROUP AV LIMITED

BALANCE SHEET

As at 31 December 2024
THE QUEST GROUP AV LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,003 3,756
3,003 3,756
Current assets
Debtors 4 155,386 132,085
Cash at bank and in hand 158,724 84,940
314,110 217,025
Creditors: amounts falling due within one year 5 ( 180,238) ( 119,018)
Net current assets 133,872 98,007
Total assets less current liabilities 136,875 101,763
Net assets 136,875 101,763
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 136,775 101,663
Total shareholder's funds 136,875 101,763

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The Quest Group AV Limited (registered number: 13047829) were approved and authorised for issue by the Board of Directors on 07 May 2025. They were signed on its behalf by:

Mr A R H Brans
Director
THE QUEST GROUP AV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
THE QUEST GROUP AV LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Quest Group AV Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2024 5,277 5,277
At 31 December 2024 5,277 5,277
Accumulated depreciation
At 01 January 2024 1,521 1,521
Charge for the financial year 753 753
At 31 December 2024 2,274 2,274
Net book value
At 31 December 2024 3,003 3,003
At 31 December 2023 3,756 3,756

4. Debtors

2024 2023
£ £
Trade debtors 148,742 113,729
Amounts owed by Group undertakings 0 15,106
Prepayments 6,493 3,099
Other debtors 151 151
155,386 132,085

Included within trade debtors is an amount of £5,000 paid on account as a refundable deposit for services provided by UPS.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,200 9,040
Amounts owed to Group undertakings 74,428 0
Accruals 40,938 47,521
Corporation tax 11,190 11,643
Other taxation and social security 50,225 50,557
Other creditors 257 257
180,238 119,018

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 9,600 9,600
between one and five years 5,600 15,200
15,200 24,800

8. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Timothy Lannin BSc FCA on behalf of PKF Francis Clark.

9. Ultimate controlling party

Parent Company:

The Quest Group
2621 White Road
Irvine
California
92614
United States