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Registered number: 08568342
| Quorum Fleet Solutions Limited Financial statements Information for filing with the registrar 30 June 2025 |
Quorum Fleet Solutions Limited
Balance sheet At 30 June 2025
|  | 2025 |  | Restated 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | - |  | 1,500
Tangible assets | 5 |  | 137,895 |  | 23,012
|  |  | 137,895 |  | 24,512
Current assets |  |  |  |  |
Stocks |  | 65,189 |  | 326,005 |
Debtors | 6 | 447,592 |  | 198,804 |
Cash at bank and in hand |  | 202,471 |  | 446,542 |
|  | 715,252 |  | 971,351 |
Creditors: amounts falling due within one year | 7 | (231,101) |  | (396,129) |
Net current assets |  |  | 484,151 |  | 575,222
Total assets less current liabilities |  |  | 622,046 |  | 599,734
Creditors: amounts falling due after more than one year | 8 |  | (103,683) |  | (70,633)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (10,469) |  | - |
|  |  | (10,469) |  | -
Net assets |  |  | 507,894 |  | 529,101
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 1
Profit and loss account |  |  | 507,794 |  | 529,100
Shareholders' funds |  |  | 507,894 |  | 529,101
1
Quorum Fleet Solutions Limited
Balance sheet (continued) At 30 June 2025 The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2025.
Mark Batey
Director
Company registered number: 08568342 The notes on pages 3 to 8 form part of these financial statements. 2
Quorum Fleet Solutions Limited
Notes to the financial statements Year ended 30 June 2025
1. | General information
Quorum Fleet Solutions Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Suite 2 Alexander House, Meadowfield Industrial Estate, Durham DH7 8XL. 2.Accounting policies
| 2.1 | Statement of compliance
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Revenue
The turnover in the profit and loss accounts represents commisisons receivable on car finance, and amounts on car sales.
| 2.3 | Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.4 | Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. 3
Quorum Fleet Solutions Limited
Notes to the financial statements Year ended 30 June 2025 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. 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. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.6 | Intangible assets
Intangible assets are intially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. 4
Quorum Fleet Solutions Limited
Notes to the financial statements Year ended 30 June 2025 2.Accounting policies (continued)
| 2.7 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the rates below. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 20% | reducing balance method
|  |  |  | Fixtures and fittings | - | 15% | reducing balance method
|  |  |  | Computer equipment | - | 15% | reducing balance method
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.9 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.10 | Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
| 2.11 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 5
Quorum Fleet Solutions Limited
Notes to the financial statements Year ended 30 June 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 19 (2024 - 16).
4. | Intangible assets
|  | Website
|  | £
| At 1 July 2024 | 1,500
| Disposals | (1,500)
| At 30 June 2025 | -
| Net book value |
| At 30 June 2025 | -
| At 30 June 2024 | 1,500
6
Quorum Fleet Solutions Limited
Notes to the financial statements Year ended 30 June 2025
5. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 July 2024 | - | 13,628 | 21,753 | 35,381
| Additions | 116,191 | 1,200 | 7,490 | 124,881
| At 30 June 2025 | 116,191 | 14,828 | 29,243 | 160,262
| Depreciation |  |  |  |
| At 1 July 2024 | - | 4,712 | 7,657 | 12,369
| Charge for the year | 5,818 | 1,472 | 2,708 | 9,998
| At 30 June 2025 | 5,818 | 6,184 | 10,365 | 22,367
| Net book value |  |  |  |
| At 30 June 2025 | 110,373 | 8,644 | 18,878 | 137,895
| At 30 June 2024 | - | 8,916 | 14,096 | 23,012
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 215,593 | 153,628
| Other debtors | 222,184 | 45,176
| Prepayments and accrued income | 9,815 | -
|  | 447,592 | 198,804
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Quorum Fleet Solutions Limited
Notes to the financial statements Year ended 30 June 2025
7. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,556 | -
| Trade creditors | 105,119 | 82,528
| Corporation tax | 48,003 | 165,735
| Other taxation and social security | 28,389 | 6,707
| Obligations under finance lease and hire purchase contracts | 10,483 | -
| Other creditors | 28,632 | 141,159
| Accruals and deferred income | 4,919 | -
|  | 231,101 | 396,129
8. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 21,759 | 6,799
| Other loans | 33,867 | 63,834
| Net obligations under finance leases and hire purchase contracts | 48,057 | -
|  | 103,683 | 70,633
9. | Transactions with directors
During the year M Batey used a current account with the company to record amounts due to him and drawn by him. The balance at the end of the year was £37,617 (2024: £386 due by) due to the company. The loan is unsecured, interest free and repayable on demand.
10. | Related party transactions
| Included within other debtors is a loan of £184,493 (2024: £37,451) to Q-Group (North East) Limited, a company in which the director owns 100% of the share capital and is sole director. The loan is unsecured, interest free and repayable on demand.
8