Registration number: 08810419

Quadbest Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Quadbest Ltd

Company Information

Directors

Simon Alexander Wanderer Michael Benjamin Lopian

Registered office

2nd Floor, Rico House George Street Prestwich Manchester M25 9WS

Accountants

Gordon Levy Limited Chartered Accountants Suite 5, 4th Floor 3 Universal Square Devonshire Street North Manchester, M12 6JH

Quadbest Ltd

(Registration number: 08810419)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investment property	4	140,500	195,523
Current assets
Debtors	5	72,027	73,939
Cash at bank and in hand		209	1,320
		72,236	75,259
Creditors: Amounts falling due within one year	6	(7,207)	(13,362)
Net current assets		65,029	61,897
Total assets less current liabilities		205,529	257,420
Provisions for liabilities		(23,537)	(37,293)
Net assets		181,992	220,127
Capital and reserves
Called up share capital	7	1	1
Retained earnings		181,991	220,126
Shareholders' funds		181,992	220,127

For the financial year ending 31 December 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 year 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

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

......................................... Simon Alexander Wanderer Director

Quadbest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
2nd Floor, Rico House
George Street
Prestwich
Manchester
M25 9WS

These financial statements were authorised for issue by the Board on 30 September 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable as rental income from the investment property, held in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in income statement, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Quadbest Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate assessed annually by the director of the company, Simon Alexander Wanderer. Mr Wanderer is a qualified chartered surveyor and the Royal Institution of Chartered Surveyors registered valuer. Where independent valuer is used, that information is disclosed in the relevant note. Fair value is determined using observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in income statement.

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4	Investment properties

	2024 £
At 1 January	195,523
Fair value adjustments	(55,023)
At 31 December	140,500

Some of the investment properties were valued by an independent valuer, Fisher German, during the year. At the end of each reporting period, the directors update their assessment of the fair value of each property, taking into account the most recent independent valuations. The directors consider the value presented above to be the fair value of investment properties as at the current reporting date.

Quadbest Ltd

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

5

Debtors

	Note	2024 £	2023 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest		68,933	71,387
Other debtors		3,094	2,552
		72,027	73,939

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	496	496
Taxation and social security	789	7,259
Accruals and deferred income	810	495
Other creditors	5,112	5,112
	7,207	13,362

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £1,275,000 (2023 - £872,249). This is in relation to the company having given a guarantee in respect of the bank borrowings of the fellow subsidiary companies (2023: Guarantee applied to the parent company's bank borrowings). The guarantee is secured by a charge on the company’s portfolio of investment property.