REGISTERED NUMBER: SC561380 (Scotland)

Financial Statements For The Year Ended 31 March 2025

for

Kast Services Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

T Ramzan

S M Ramzan

REGISTERED OFFICE:

61 Hydepark Street

Glasgow

United Kingdom

G3 8BW

REGISTERED NUMBER:

SC561380 (Scotland)

INDEPENDENT AUDITORS:

Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

37,928

54,388

CURRENT ASSETS

Debtors

5

28,170

368,731

Cash at bank and in hand

9,983

8,384

38,153

377,115

CREDITORS

Amounts falling due within one year

6

16,852

45,070

NET CURRENT ASSETS

21,301

332,045

TOTAL ASSETS LESS CURRENT LIABILITIES

59,229

386,433

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

59,129

386,333

SHAREHOLDERS' FUNDS

59,229

386,433

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2026 and were signed on its behalf by:

T Ramzan - Director

1.	STATUTORY INFORMATION

Kast Services 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.

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

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern

The primary activity of the company is to own, develop and protect the Intellectual Property and Trademarks associated with the QUIZ clothing brand in the United Kingdom and worldwide. It is a wholly owned subsidiary of QUIZ Limited, a company based in Jersey.

Historically the company received payments for the use of the trademarks from the trading companies in the QUIZ Limited group. On 5 February 2026 two of these trading companies, Orion Retail Limited and Tarak International Limited, entered into administration. The third trading company, Tarak Retail Limited, continued to trade but at reduced trading activity levels.

At 31 March 2025, the company was owed £7,200 from Orion Retail Limited and £264,070 from Tarak International Limited. These balances have been fully provided for as irrecoverable in the financial statements for the year ended 31 March 2025.

Going forward QUIZ Limited will continue to review opportunities to utilise and generate revenues from the QUIZ trademarks and would anticipate that the company will continue to maintain the trademarks associated with the QUIZ clothing brand.

QUIZ Limited has confirmed that it will provide financial support as required by the company to ensure that it will continue as a going concern for a period of twelve months from the date of the signing of these financial statements.

Intangible assets

Intangible assets purchased are recognised when future economic benefits are probable and are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets are amortised to profit or loss on a straight-line basis over their useful lives, as follows:

Trademarks

10 years

Amortisation is revised prospectively for any significant change in useful life or residual value. On disposal, the difference between the net disposal proceeds and the carrying amount of the intangible asset is recognised in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102, in full, to all of its financial instruments.

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument, and are offset only when the company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets

Inter-company debtors

Inter-company debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Inter-company debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where the arrangement with a debtor constitutes a financing transaction, the debtor is initially measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument and subsequently measured at amortised cost.

A provision for impairment of inter-company debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Financial liabilities

Financial liabilities and equity

Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade, other and inter-company creditors

Trade, other and inter-company creditors payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Where the arrangement with a trade, other or inter-company creditor constitutes a financing transaction, the creditor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar instrument.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Dividends

Dividends are recognised as liabilities once they are no longer at the discretion of the Company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

164,602

AMORTISATION

At 1 April 2024

110,214

Charge for year

16,460

At 31 March 2025

126,674

NET BOOK VALUE

At 31 March 2025

37,928

At 31 March 2024

54,388

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

28,170

368,731

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,000

2,398

Amounts owed to group undertakings

-

39,132

VAT

11,352

3,540

Accrued expenses

4,500

-

16,852

45,070

7.	SECURED DEBTS

Zesta Ventures Limited, a company registered in the British Virgin Isles (registered number 1970357), holds a fixed and floating charge over the assets of the company. Zesta Ventures Limited is a major shareholder in the company's parent company, QUIZ Limited, a company incorporated in the Isle of Jersey.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary shares

£1

100

100

The Company's ordinary shares, which carry no fixed right to income, each carry the right to one vote at general meetings of the company.

9.

RESERVES

Retained

earnings

£

At 1 April 2024

386,333

Deficit for the year

(327,204

)

At 31 March 2025

59,129

Profit and loss account

The profit and loss account is the cumulative profit and loss, net of distributions to owners.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andy Logan (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

11.	RELATED PARTY DISCLOSURES

The company has granted a fixed and floating charge over its assets in favour of Zesta Ventures Limited, a company registered in the British Virgin Isles. Zesta Ventures Limited is a major shareholder in the company's parent company, Quiz Limited, a company incorporated in the Isle of Jersey. Zesta Ventures Limited is under the control of the directors of the company.

12.	POST BALANCE SHEET EVENTS

Fellow group companies, Tarak International Limited and Orion Retail Limited were placed into administration on 5th February 2026. Both entities have the same parent company as Kast Services Limited; Quiz Limited, a company registered in the Isle of Jersey. Provision has been made in full in respect of the sums due to the company by these fellow group companies.The sum provided amounts to £422,070.

The other companies within the QUIZ Group, including QUIZ Limited, Tarak Retail Limited, Zandra Services Limited & Shoar (Holdings) Limited, have not entered administration. Although trading activities within these companies have wound down post year-end, the Directors are seeking new opportunities for the companies post year-end.

13.	ULTIMATE CONTROLLING PARTY

The company's ultimate and immediate parent company is QUIZ Limited, a company registered in Jersey.