Qik Group Limited Company accounts

COMPANY REGISTRATION NUMBER: 04403066

Qik Group Limited

Financial Statements

31 March 2025

Qik Group Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Director's report	1

Independent auditor's report to the members	3

Statement of income and retained earnings	7

Statement of financial position	8

Notes to the financial statements	9

Qik Group Limited

Director's Report

Year ended 31 March 2025

The director presents her report and the financial statements of the company for the year ended 31 March 2025 .

Director

The director who served the company during the year was as follows:

M K Jones

Director's responsibilities statement

The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 22 December 2025 and signed on behalf of the board by:

M K Jones
Director

Registered office:

Unit 8

Brittania Court

The Green

West Drayton

Middlesex

UB7 7PN

Qik Group Limited

Independent Auditor's Report to the Members of Qik Group Limited

Year ended 31 March 2025

Opinion

We have audited the financial statements of Qik Group Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the director's report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the director's report and from the requirement to prepare a strategic report.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We designed our audit to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error. In doing so, we considered the potential for non-compliance with laws and regulations, including fraud, that could have a material impact on the financial statements. In identifying and assessing risks of material misstatement, we obtained an understanding of: - The nature of the company’s operations as a wholesale wine merchant; - The control environment, particularly in relation to purchasing, inventory management, and revenue recognition; - The legal and regulatory frameworks applicable to the company, which include UK company law, tax legislation, and alcohol licensing and excise duties. Our audit procedures included: Enquiries of management and those charged with governance regarding their assessment of the risk of irregularities; Review of internal controls and walkthroughs of key processes relevant to the audit; Testing the appropriateness of journal entries and accounting estimates; Analytical review of trading activity, gross margins, and stock movements; Review of minutes of meetings of the board of directors; Review of correspondence with HMRC and any relevant regulatory authorities. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Sanjay Anand FCCA

(Senior Statutory Auditor)

For and on behalf of

Waterfords Europe Limited t/a Jon Avol Waterfords

Chartered accountants & statutory auditor

204 Field End Road

Pinner

Middlesex

England

HA5 1RD

23 December 2025

Qik Group Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

		2025	2024
Note		£	£
Turnover	4	2,216,682	2,356,090

Cost of sales	992,213	1,091,636
	------------	------------
Gross profit	1,224,469	1,264,454

Administrative expenses	1,545,629	1,518,293
	------------	------------
Operating loss	( 321,160)	( 253,839)

Other interest receivable and similar income		5,509	5,947
Interest payable and similar expenses		4,064	4,539
		------------	------------
Loss before taxation	8	( 319,715)	( 252,431)

Tax on loss	–	–
	---------	---------
Loss for the financial year and total comprehensive income	( 319,715)	( 252,431)
	---------	---------

Dividends paid and payable	( 73,321)	( 73,271)

Retained earnings at the start of the year	945,368	1,271,070
	---------	------------
Retained earnings at the end of the year	552,332	945,368
	---------	------------

All the activities of the company are from continuing operations.

Qik Group Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	9	981,867	1,045,681

Current assets

Stocks		104,157	160,644
Debtors	10	325,188	360,306
Cash at bank and in hand		74,746	231,455
		---------	---------
		504,091	752,405

Creditors: amounts falling due within one year	11	395,804	314,896
		---------	---------
Net current assets		108,287	437,509
		------------	------------
Total assets less current liabilities		1,090,154	1,483,190

Provisions	96,729	96,729
	------------	------------
Net assets	993,425	1,386,461
	------------	------------

Capital and reserves

Called up share capital	6,789	6,789
Share premium account	434,304	434,304
Profit and loss account	552,332	945,368
	---------	------------
Shareholders funds	993,425	1,386,461
	---------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

M K Jones
Director

Company registration number: 04403066

Qik Group Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8, Brittania Court, The Green, West Drayton, UB7 7PN, Middlesex.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	Evenly over the lease period
Plant and machinery	-	Varying rates on cost
Motor vehicles	-	Varying rates on cost
Equipment	-	Varying rates on cost

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	2,216,682	2,356,090
	------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	5,500	5,500
	-------	-------

6. Employee numbers

The average number of persons employed by the company during the year amounted to 38 (2024: 42 ).

7. Director's remuneration

The director's aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	79,741	78,158
Company contributions to defined contribution pension plans	6,000	6,000
	--------	--------
	85,741	84,158
	--------	--------

8. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	99,384	104,125
	--------	---------

9. Tangible assets

	Short leasehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	131,686	115,756	304,421	1,651,283	2,203,146
Additions	–	10,625	65,200	18,509	94,334
Disposals	–	( 4,649)	( 43,385)	(93,509)	( 141,543)
	---------	---------	---------	------------	------------
At 31 March 2025	131,686	121,732	326,236	1,576,283	2,155,937
	---------	---------	---------	------------	------------
Depreciation
At 1 April 2024	131,684	29,875	129,050	866,856	1,157,465
Charge for the year	–	2,703	25,701	70,980	99,384
Disposals	–	(699)	( 31,904)	( 50,176)	( 82,779)
	---------	---------	---------	------------	------------
At 31 March 2025	131,684	31,879	122,847	887,660	1,174,070
	---------	---------	---------	------------	------------
Carrying amount
At 31 March 2025	2	89,853	203,389	688,623	981,867
	---------	---------	---------	------------	------------
At 31 March 2024	2	85,881	175,371	784,427	1,045,681
	---------	---------	---------	------------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Equipment
	£
At 31 March 2025	47,804
	--------
At 31 March 2024	56,203
	--------

10. Debtors

	2025	2024
	£	£
Trade debtors	286,162	306,220
Other debtors	39,026	54,086
	---------	---------
	325,188	360,306
	---------	---------

11. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	152,938	177,954
Social security and other taxes	65,960	72,222
Other creditors	176,906	64,720
	---------	---------
	395,804	314,896
	---------	---------

12. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	8,210	35,103
Later than 1 year and not later than 5 years	–	6,096
	-------	--------
	8,210	41,199
	-------	--------

13. Subsidiaries

The Company owns 100% of the issued share capital of the following dormant companies:

Qik Loo Limited

Qik Guard Limited

Qik Space Limited

Clifton Brothers Industries Limited

The cost of investment thereon was written off as at 31st March 2008 as a result of an impairment review at that date.

Page

14. Related party transactions

Included in administrative expenses is rent and service charges of £121,375 (2024: £98,989) paid to Lanhill Properties Limited. All transactions were at arms length. Mrs M Jones is a director of Lanhill properties Limited. At the year end the Company owed £155,966 (2024: £7000) to Lanhill Properties Limited.

15. Controlling party

The ultimate controlling party is Mr Richard Clifton.