Quest (Holly Street) LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC375713 (England and Wales)

Unaudited Financial Statements for the Year Ended 5 April 2025

for

Quest (Holly Street) LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

Mr J L Brook

Mr J M Brook

Quest Property (Holly Street) Ltd

REGISTERED OFFICE:

Lower

Plaza 1

Gateway Plaza

Fitzwilliam Street

Barnsley

S70 2RF

REGISTERED NUMBER:

OC375713 (England and Wales)

ACCOUNTANTS:

Harris & Co Limited

Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

CURRENT ASSETS

Debtors

5

280,300

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

280,300

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

280,000

MEMBERS' OTHER INTERESTS

Capital accounts

300

280,300

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

280,000

Members' other interests

300

Amounts due from members

5

(302

)

(302

)

279,998

The Llp is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 5 April 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the Llp keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Llp 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the Llp.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 22 December 2025 and were signed by:

Mr J L Brook - Designated member

1.	STATUTORY INFORMATION

Quest (Holly Street) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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

2.	STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis under the historical cost convention.

Going concern

The accounts have been prepared on a going concern basis which assumes that the LLP will continue in operational existence for the foreseeable future. This assumption is based on the continuing support from its Members. Such support has been maintained since the year end and will continue to be made available to the extent required to enable the LLP to meet its liabilities as and when they fall due during the course of the current year.

On the basis of the above the members consider it appropriate to prepare the financial statements on a going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of income and retained earnings in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of income and retained earnings and as equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are shown as either 'Amounts due from members' or as equity within 'Members' other interests', as appropriate. Amounts due that are classified as liabilities are shown within the statement of financial position within 'Other interests'.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amounts owed by group undertakings

279,798

Other debtors

502

280,300

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

Loans from members

280,000

Falling due within one year

280,000

7.	RELATED PARTY DISCLOSURES

Loans with companies under common control

2025

2024

£

Amount due from related party at the balance sheet date

279,798

Amounts owed from members

2025

2024

£

Amount due from related party at the balance sheet date

302

8.	ULTIMATE CONTROLLING PARTY

Due to the split of member's control, there is no single controlling party.