Quest Future New Solutions Limited - Period Ending 2014-12-31

Registration number: 07115281

Quest Future New Solutions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Elizabeth Eyre Limited
Chartered Accountants
112-114 West Malvern Road
Malvern
Worcestershire
WR14 4NB

Quest Future New Solutions Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Quest Future New Solutions Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Quest Future New Solutions Limited for the year ended 31 December 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Quest Future New Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Quest Future New Solutions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quest Future New Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Quest Future New Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Quest Future New Solutions Limited. You consider that Quest Future New Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Quest Future New Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Elizabeth Eyre Limited
Chartered Accountants
112-114 West Malvern Road
Malvern
Worcestershire
WR14 4NB

6 March 2015

Page 1

Quest Future New Solutions Limited
(Registration number: 07115281)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					896			279
Current assets
Debtors					11,168			19,789
Cash at bank and in hand					24,672			16,673
					35,840			36,462
Creditors: Amounts falling due within one year					(20,736)			(11,806)
Net current assets					15,104			24,656
Net assets					16,000			24,935
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					15,900			24,835
Shareholders' funds					16,000			24,935

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 6 March 2015 and signed on its behalf by:

.........................................
Mrs J Goodfellow-Smith
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Quest Future New Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of consultancy services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	4 years straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		953			953
Additions		1,141			1,141
At 31 December 2014		2,094			2,094
Depreciation
At 1 January 2014		674			674
Charge for the year		524			524
At 31 December 2014		1,198			1,198
Net book value
At 31 December 2014		896			896
At 31 December 2013		279			279

Page 3

Quest Future New Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 4