Registered number
02911298
Marquest Limited
Filleted Accounts
31 March 2025
Marquest Limited
Registered number: 02911298
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 120,729 142,152
Investments 4 460,000 460,000
580,729 602,152
Current assets
Debtors 5 115,061 1,009,224
Cash at bank and in hand 1,188,640 404,485
1,303,701 1,413,709
Creditors: amounts falling due within one year 6 (670,698) (852,525)
Net current assets 633,003 561,184
Total assets less current liabilities 1,213,732 1,163,336
Provisions for liabilities (22,443) (26,431)
Net assets 1,191,289 1,136,905
Capital and reserves
Called up share capital 892 892
Profit and loss account 1,190,397 1,136,013
Shareholders' funds 1,191,289 1,136,905
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P A Quinn
Director
Approved by the board on 28 May 2025
Marquest Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 15% on written down value
Fixtures & fittings 10% on written down value
Motor vehicles 25% on written down value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 11 10
3 Tangible fixed assets
Office equipment & fixtures Motor vehicles Total
£ £ £
Cost
At 1 April 2024 140,101 164,198 304,299
Additions 8,484 - 8,484
Disposals (3,529) - (3,529)
At 31 March 2025 145,056 164,198 309,254
Depreciation
At 1 April 2024 70,904 91,243 162,147
Charge for the year 10,642 18,239 28,881
On disposals (2,503) - (2,503)
At 31 March 2025 79,043 109,482 188,525
Net book value
At 31 March 2025 66,013 54,716 120,729
At 31 March 2024 69,197 72,955 142,152
4 Investments
Other
investments
£
Cost
At 1 April 2024 460,000
At 31 March 2025 460,000
Historical cost
At 1 April 2024 390,375
At 31 March 2025 390,375
5 Debtors 2025 2024
£ £
Trade debtors 96,129 996,686
Other debtors 18,932 12,538
115,061 1,009,224
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 525,955 793,804
Corporation tax 81,798 45,897
Other taxes and social security costs 61,171 11,699
Other creditors 1,774 1,125
670,698 852,525
7 Other information
Marquest Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Trinity Lane
Station Square
Beverley
East Yorkshire
HU17 0AS
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