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REGISTERED NUMBER: 11030525 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Qvest Media Limited

Qvest Media Limited (Registered number: 11030525)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Qvest Media Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: P Nothen





REGISTERED OFFICE: Boston House
Henley-on-Thames
RG9 1DY





REGISTERED NUMBER: 11030525 (England and Wales)





ACCOUNTANTS: Villars Hayward LLP
Chartered Accountants,
Chartered Tax Advisers and Registered Auditors
Boston House
Henley-on-Thames
RG9 1DY

Qvest Media Limited (Registered number: 11030525)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,559 5,845

CURRENT ASSETS
Debtors 5 739,191 433,835
Cash at bank 42,405 95,876
781,596 529,711
CREDITORS
Amounts falling due within one year 6 372,329 279,943
NET CURRENT ASSETS 409,267 249,768
TOTAL ASSETS LESS CURRENT LIABILITIES 417,826 255,613

CREDITORS
Amounts falling due after more than one year 7 949,888 944,387
NET LIABILITIES (532,062 ) (688,774 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (532,063 ) (688,775 )
SHAREHOLDERS' FUNDS (532,062 ) (688,774 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2025 and were signed by:





P Nothen - Director


Qvest Media Limited (Registered number: 11030525)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Qvest Media Limited is a private company, limited by shares incorporated in England and Wales and has its registered office at Boston House, Henley-On-Thames, RG9 1DY.

The principal activity of the company was that of designing, implementing and providing operational support of media technology infrastructures.

The financial statements are presented in Sterling (£), which is also the functional currency of the company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue (described as Turnover) is the amount receivable for services rendered, net of returns, discounts and value added tax. Revenue is measured at the fair value of consideration received or receivable and is recognised at the point the service is delivered.

Tangible fixed assets
Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives as below:

Office equipment - 20% on reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes towards a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. The assets of the scheme are held separately from those of the company in an independent administered fund.

Qvest Media Limited (Registered number: 11030525)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method, less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Going concern
The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern which the directors consider appropriate having regard to the circumstances outlined in the notes to the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 10,778
Additions 5,225
At 31 December 2024 16,003
DEPRECIATION
At 1 January 2024 4,933
Charge for year 2,511
At 31 December 2024 7,444
NET BOOK VALUE
At 31 December 2024 8,559
At 31 December 2023 5,845

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by group undertakings 735,197 361,557
Other debtors 3,994 72,278
739,191 433,835

Qvest Media Limited (Registered number: 11030525)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed to group undertakings 106,089 78,612
Taxation and social security 43,466 30,368
Other creditors 222,774 170,963
372,329 279,943

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed to group undertakings 949,888 944,387

8. GOING CONCERN

The financial statements have been prepared on the basis that the company is a going concern. The director acknowledges the fact that significant losses were made in previous financial years and that future years with the same trading results would bring the going concern assumption into question.

In order to bring Qvest Media Limited back to profitability a transfer pricing agreement was effected during the year ended 31 December 2023. This transfer pricing agreement has been entered into by Qvest Media Limited and other Qvest group companies.

As a result of this agreement Qvest Media Limited is expected to continue to make profits in future years as has been the case in the two years ending 31 December 2024.