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Registration number: 13061854

Cuesz Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2024 to 30 September 2024

 

Cuesz Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Cuesz Limited

Company Information

Directors

Mr M R Beveridge

Mr G J Moore

Registered office

Berkeley Suite
35 Berkeley Square
Mayfair
London
W1J 5BF

Accountants

Rotherham Taylor Limited 21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Cuesz Limited

(Registration number: 13061854)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

279,531

Tangible assets

5

-

682

 

-

280,213

Current assets

 

Debtors

6

-

130,438

Cash at bank and in hand

 

3,548

4,004

 

3,548

134,442

Creditors: Amounts falling due within one year

7

(21,845)

(318,761)

Net current liabilities

 

(18,297)

(184,319)

Net (liabilities)/assets

 

(18,297)

95,894

Capital and reserves

 

Called up share capital

20

20

Share premium reserve

199,407

199,407

Retained earnings

(217,724)

(103,533)

Shareholders' (deficit)/funds

 

(18,297)

95,894

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 

.........................................
Mr M R Beveridge
Director

   
     
 

Cuesz Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Berkeley Suite
35 Berkeley Square
Mayfair
London
W1J 5BF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Cuesz Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Cuesz Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

Cuesz Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

4

Intangible assets

Development costs
£

Total
£

Cost or valuation

At 1 January 2024

347,427

347,427

Additions

131,653

131,653

Disposals

(479,080)

(479,080)

At 30 September 2024

-

-

Amortisation

At 1 January 2024

67,896

67,896

Amortisation eliminated on disposals

(67,896)

(67,896)

At 30 September 2024

-

-

Carrying amount

At 30 September 2024

-

-

At 31 December 2023

279,531

279,531

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

4,025

4,025

Disposals

(4,025)

(4,025)

At 30 September 2024

-

-

Depreciation

At 1 January 2024

3,343

3,343

Eliminated on disposal

(3,343)

(3,343)

At 30 September 2024

-

-

Carrying amount

At 30 September 2024

-

-

At 31 December 2023

682

682

 

Cuesz Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

6

Debtors

Current

2024
£

2023
£

Prepayments

-

957

Other debtors

-

129,481

 

-

130,438

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

266,467

Accruals and deferred income

 

9,601

30,655

Other creditors

 

12,244

21,639

 

21,845

318,761

 

Cuesz Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 September 2024

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Directors' loan accounts

-

266,467