REGISTERED NUMBER: 06013589 (England and Wales)

QUEST BUSINESS SERVICES LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M A Walker

Ms H Mistry

REGISTERED OFFICE:

Windsor House

Troon Way Business Centre

Humberstone Lane

Leicester

LE4 9HA

REGISTERED NUMBER:

06013589 (England and Wales)

ACCOUNTANTS:

QACCOUNTING LTD

Windsor House,

Troon Way Business Centre,

Thurmaston, Leicestershire

LE4 9HA

FIXED ASSETS

Intangible assets

4

11,825

18,391

Tangible assets

5

8,692

8,158

20,517

26,549

CURRENT ASSETS

Debtors

6

1,669,855

996,288

Prepayments and accrued income

63,224

63,378

Cash at bank

20,758

39,914

1,753,837

1,099,580

CREDITORS

Amounts falling due within one year

7

1,565,957

1,385,302

NET CURRENT ASSETS/(LIABILITIES)

187,880

(285,722

)

TOTAL ASSETS LESS CURRENT LIABILITIES

208,397

(259,173

)

CREDITORS

Amounts falling due after more than one year

8

(550

)

-

NET ASSETS/(LIABILITIES)

208,947

(259,173

)

CAPITAL AND RESERVES

Called up share capital

1,010

1,010

Share premium

32,940

32,940

Capital redemption reserve

50

50

Retained earnings

174,947

(293,173

)

208,947

(259,173

)

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 directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr M A Walker - Director

1.	STATUTORY INFORMATION

Quest Business Services Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is Windsor House, Troon Way Business Centre, Humberstone Lane, Leicester, LE4 9HA and the registered number is 06013589.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Group relief

It is the group' policy in certain situations to change for tax losses surrendered by the way of group relief at the rate of prevailing at the end of the financial period in respect of which relief is given

Rendering of services

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the costs incurred and the costs to complete the contract can be measured reliably, and;

- the cost incurred and the costs to complete the contract can be measured reliably.

Annual support service fees are accounted for within the first month of the inception of the contract.

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax, Insurance Premium Tax and trade discounts. The following criteria must also be met before revenue is recognised:

Intangible assets

Software development costs are recognised as an intangible asset when all of the following criteria are demonstrated:

The technical feasibility of completing the software so that it will be available for use or sale.

- The intention to complete the software and use or sell it.

The ability to use software or sell it.

How the software will generate probable future economic benefits.

- The availability of adequate technical, financial and other resources to complete the development and to use or sell the software.

- The ability to measure reliably the expenditure attributable to the software during its development.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method.

Amortisation is provided on the following bases:

Software development costs 25•/o on cost

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

Fixtures and fittings - 20% straight line

Computer equipment - 25% straight line

Financial instruments

The Company only enters into basic financial instrument 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.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases

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

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments 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 operates 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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Going concern

The company has continued to receive financial support from companies related by virtue of common control through the use of current accounts.

With this information, and based on a review of forecast trading 12 months from the signing of the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

207,148

Additions

2,200

At 31 December 2024

209,348

AMORTISATION

At 1 January 2024

188,757

Amortisation for year

8,766

At 31 December 2024

197,523

NET BOOK VALUE

At 31 December 2024

11,825

At 31 December 2023

18,391

5.	TANGIBLE FIXED ASSETS

Fixtures

and

IT

fittings

Equipment

Totals

£

£

£

COST

At 1 January 2024

2,517

24,272

26,789

Additions

-

5,128

5,128

At 31 December 2024

2,517

29,400

31,917

DEPRECIATION

At 1 January 2024

2,517

16,114

18,631

Charge for year

-

4,594

4,594

At 31 December 2024

2,517

20,708

23,225

NET BOOK VALUE

At 31 December 2024

-

8,692

8,692

At 31 December 2023

-

8,158

8,158

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

786,891

611,994

Amounts owed by group undertakings

659,246

384,294

Other debtors

223,718

-

1,669,855

996,288

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

343,706

330,650

Amounts owed to group undertakings

901,108

755,708

Taxation and social security

109,464

122,797

Other creditors

211,679

176,147

1,565,957

1,385,302

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

(550

)

-

9.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINENTS

The bank facilities with Lloyds Bank Plc are secured by an Omnibus guarantee and set-off agreement between this company, Rhino Protect Limited, Vantage Legal Services Limited, Vantage Legal Protect Limited, Rhino Protect Holdings Ltd, Contractor Weekly Limited, Rhino Resource Services Holdings Ltd, Rhino Resource Services Limited, Vantage Tax Fee Protection Limited, lR35 Buddy Limited and Vantage Tax Fee Protection (Global) Limited.

10.	RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence:

2024 2023

Amounts due from related parties 488,539 384,294

Amounts due to related parties (730,401) (755,708)