REGISTERED NUMBER: SC340824 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

QUVENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr U Qureshi

Mrs S M Qureshi

SECRETARY:

Mrs S M Qureshi

REGISTERED OFFICE:

31 Thorn Road

Bearsden

Glasgow

G61 4BS

REGISTERED NUMBER:

SC340824 (Scotland)

ACCOUNTANTS:

JF Accounting

Clyde Offices, 2nd Floor,

48 West George Street

Glasgow

G2 1BP

FIXED ASSETS

Tangible assets

4

57,038

20,727

CURRENT ASSETS

Stocks

3,350

4,375

Debtors

5

2,198,280

1,558,792

Cash at bank

14,969

51,917

2,216,599

1,615,084

CREDITORS

Amounts falling due within one year

6

435,312

461,620

NET CURRENT ASSETS

1,781,287

1,153,464

TOTAL ASSETS LESS CURRENT LIABILITIES

1,838,325

1,174,191

CREDITORS

Amounts falling due after more than one year

7

368,086

122,159

NET ASSETS

1,470,239

1,052,032

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

1,470,219

1,052,012

SHAREHOLDERS' FUNDS

1,470,239

1,052,032

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

Dr U Qureshi - Director

1.	STATUTORY INFORMATION

Quvent Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments 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 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 the Statement of Income and Retained Earnings.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

12,954

57,382

70,336

Additions

-

55,000

55,000

At 31 December 2024

12,954

112,382

125,336

DEPRECIATION

At 1 January 2024

9,889

39,720

49,609

Charge for year

459

18,230

18,689

At 31 December 2024

10,348

57,950

68,298

NET BOOK VALUE

At 31 December 2024

2,606

54,432

57,038

At 31 December 2023

3,065

17,662

20,727

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

2,192,981

1,553,493

Amounts owed by associates

5,299

5,299

2,198,280

1,558,792

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

103,130

102,667

Hire purchase contracts

20,156

12,053

Amounts owed to group undertakings

306,172

312,244

Amounts owed to associates

1,738

1,600

Tax

200

200

Other creditors

669

7,824

Directors' current accounts

-

11,232

Deferred income

-

11,800

Accrued expenses

3,247

2,000

435,312

461,620

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

119,742

30,926

Bank loans - 2-5 years

193,799

69,585

Hire purchase contracts

54,545

21,648

368,086

122,159

8.	RELATED PARTY DISCLOSURES

During the year the company operated accounts with other group companies which are included in the debtors and creditors. The amount due from them at the period end was £1,886,809 (2023 - £1,241,249). These loans are unsecured, interest free and repayable on demand.

During the year the company operated a loan account with a company under common control. The amount due from this company at the period end was £3,5,61 (2023 - £3,699). This loan is unsecured, interest free and payable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate Controlling Parent Undertaking is Qureshi Group Limited by virtue of its 100% controlling interest in the company.

the ultimate Controlling Parties are Dr. U. Qureshi and Mrs. S. Qureshi by virtue of their 100% shareholding in Qureshi Group Limited.