Acorah Software Products - Accounts Production 16.4.660 false true 31 December 2023 1 January 2023 false 22 July 2025 1 January 2024 31 December 2024 31 December 2024 12852069 Miss Ipek Aydin true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12852069 2023-12-31 12852069 2024-12-31 12852069 2024-01-01 2024-12-31 12852069 frs-core:CurrentFinancialInstruments 2024-12-31 12852069 frs-core:ShareCapital 2024-12-31 12852069 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 12852069 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12852069 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 12852069 frs-bus:SmallEntities 2024-01-01 2024-12-31 12852069 frs-bus:Audited 2024-01-01 2024-12-31 12852069 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12852069 1 2024-01-01 2024-12-31 12852069 frs-bus:Director1 2024-01-01 2024-12-31 12852069 frs-countries:EnglandWales 2024-01-01 2024-12-31 12852069 2022-12-31 12852069 2023-12-31 12852069 2023-01-01 2023-12-31 12852069 frs-core:CurrentFinancialInstruments 2023-12-31 12852069 frs-core:ShareCapital 2023-12-31 12852069 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 12852069
Quabaq Limited
Financial Statements
For The Year Ended 31 December 2024
Porte Consulting Corporate Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 12852069
2024 2023
Notes $ $ $ $
CURRENT ASSETS
Debtors 4 6,492 -
Cash at bank and in hand 3,481,363 3,474,892
3,487,855 3,474,892
Creditors: Amounts Falling Due Within One Year 5 (7,200 ) (6,000 )
NET CURRENT ASSETS (LIABILITIES) 3,480,655 3,468,892
TOTAL ASSETS LESS CURRENT LIABILITIES 3,480,655 3,468,892
NET ASSETS 3,480,655 3,468,892
CAPITAL AND RESERVES
Called up share capital 6 3,500,000 3,500,000
Profit and Loss Account (19,345 ) (31,108 )
SHAREHOLDERS' FUNDS 3,480,655 3,468,892
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Ipek Aydin
Director
22/07/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
2.1.0 Company information
Quabaq Limited (the “Company”) is a private company limited by shares incorporated in England and Wales. The registered office is Kemp House, 124 City Road, London, England, United Kingdom, EC1V 2NX.
2.1.1 Reporting period
The period of reporting is from the  01 January 2024 to 31 December 2024.
2.1.2 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 lA 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 US Dollars, 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. The principal accounting policies adopted are set out below. adopted are set out below.
2.1.3 Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, the Director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.1.4 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.
2.1.5 Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial  assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
...CONTINUED
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2.1. Basis of Preparation of Financial Statements - continued
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
$ $
Due within one year
Prepayments and accrued income 6,492 -
5. Creditors: Amounts Falling Due Within One Year
2024 2023
$ $
Accruals and deferred income 7,200 6,000
6. Share Capital
2024 2023
$ $
Allotted, Called up and fully paid 3,500,000 3,500,000
7. Value at Risk sensitivity Analysis
    7.1. Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is 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.
In the opinion of the director, there are no areas involving a high degree of judgements of estimates made.
8. Related Party Transactions
During the year there was no related party transactions took place.
9. Ultimate Parent Undertaking and Controlling Party
The Company is a wholly owned subsidiary of GUVEN HASTANESI A.S. (2023: GUVEN HASTANESI A.S.), a company incorporated in Turkey, address Paris Street No:58 Kavaklidere, Cankaya/Ankara.
The shareholders of GUVEN HASTANESI A.S. are: 50% NUKET KÜÇÜKEL EZBERCI, 50% BANU KÜÇÜKEL (2023: 50% NUKET 
KÜÇÜKEL EZBERCI, 50% BANU KÜÇÜKEL).
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10. Audit Information
The auditor's report on the accounts of Quabaq Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Paul Mattei (Senior Statutory Auditor) for and on behalf of Leaman Mattei Limited , Statutory Auditor.
Leaman Mattei Limited
Suite 1
First floor
1 Duchess Street
London
W1W 6AN
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