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Registered number: 05586650
QUINTESSENTIALLY & CO LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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QUINTESSENTIALLY & CO LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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QUINTESSENTIALLY & CO LIMITED
REGISTERED NUMBER:05586650
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STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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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 27 April 2026.
The notes on pages 2 to 7 form part of these financial statements.
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QUINTESSENTIALLY & CO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Quintessentially & Co Limited is a private limited liability company incorporated in England and Wales with its business and registered office address at 29 Portland Place, London, W1B 1QB.
The principal activity of the Company continues to be that of global event management and production services.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
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QUINTESSENTIALLY & CO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis.
The Company operates in the events sector and its revenues are subject to significant fluctuation depending on the timing and scale of events held in each financial year.
For the year ended 30 April 2025, the Company reported a loss after tax of £112,501 (2024 - loss £131,414), had net liabilities of £1,207,776 (2024: £1,095,275).
The directors have assessed the going concern position of the Group and Company with particular reference to a letter of support from World Fuel Services Europe Ltd, one of the principal shareholders and lenders. That letter states a current intention to provide financial support and to forbear from demanding repayment of existing loans for at least twelve months from the date of approval of these financial statements, subject to certain conditions which the directors believe will continue to be satisfied throughout the period under review.
The directors have also considered the receipt by the parent company of a further £2.6m from World Fuel Services Europe Ltd, as detailed in the after date events note of the Group's financial statements. Together with the letter of support, this demonstrates the continued willingness of the principal shareholder to provide financial backing to the Group.
In addition, the directors have prepared detailed cash flow projections and stress test scenarios covering a period of at least twelve months from the date of approval of these financial statements. Those projections take into account revenue growth supported by new business wins and a cost reduction programme implemented during the year, which the directors expect to return the Company to profitability in 2026/27. As a result, the directors have a reasonable expectation that the Company has adequate resources to continue in operation for the next 12 months.
Given the level of uncertainty which still exists there is a risk that the pace and level at which business returns could be materially less than forecast, requiring the Company to obtain external funding which may not be forthcoming and therefore this creates material uncertainty that may ultimately cast doubt about the Company's ability to continue as a going concern.
Nevertheless, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.
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QUINTESSENTIALLY & CO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is £ Sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Turnover comprises revenue recognised by the Company in respect of services supplied during the year, exclusive of Value Added Tax.
Events turnover is recognised upon the successful completion of hosted events. Revenue received in advance of future events is carried forward as deferred income.
Licence fees granted to franchise offices are recognised over the term for which the franchise agreement is granted. Minimum guarantees are recognised over the period to which they relate on a pro rata basis. Where minimum guarantees are exceeded on a contract period these are recognised as earned.
Turnover from international contracts, where service delivery is provided partially from the Company’s franchise partner offices, is recognised in its entirety upon delivery of the service, together with the associated turnover share applicable to the Group with the proportion of sales payable to the franchise partner is included in cost of sales, as per the underlying contract.
The Company contributes to 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Investments in subsidiaries are measured at cost less accumulated impairment.
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QUINTESSENTIALLY & CO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Short term debtors are measured at the transaction price.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 9 (2024 - 10).
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the Company:
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Quintessentially & Co (USA) Inc.
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QUINTESSENTIALLY & CO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to other participating interests
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary share of £25,000
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Capital contribution reserve
The capital contribution reserve represents amounts gifted to the company by the shareholders.
Profit and loss account
The profit and loss account reserve represents cumulative profits or losses, net of dividends paid and other adjustments.
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QUINTESSENTIALLY & CO LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
The company is party to an intercompany fixed and floating charge over the assets of the group. The potential liability under the terms of the guarantee at the Statement of Financial Position date was £12.5m (2024 - £12.5m).
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Related party transactions
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The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.
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The Company is majority owned by the immediate parent undertaking, Quintessentially Media Limited; a company registered in England and Wales.
The ultimate parent company is Quintessentially (UK) Limited, a company registered in England and Wales. Quintessentially (UK) Limited is the parent company of the largest and smallest group of which Quintessentially & Co Limited is a member and for which group financial statements are drawn up. The registered office of Quintessentially (UK) Limited is at 29 Portland Place, London, W1B 1QB. Copies of the consolidated financial statements are available from the Registrar of Companies. The directors regard A T Simpson, B W Elliot and WFS UK Holding Partnership LP as the ultimate controlling parties.
The auditors' report on the financial statements for the year ended 30 April 2025 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.3 in the financial statements, which indicates that the pace and level at which the events business returns could be materially less than forecast, requiring the Company, or its parent company, on whom the Company relies on for significant trading relationships and cash flow, to obtain external funding. As stated in note 2.3, these events or conditions, along with the other matters as set forth in note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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The audit report was signed on 27 April 2026 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.
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