Quote Searcher Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05387593 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

QUOTE SEARCHER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

Directors:

R J Pietosi

K J Taylor

Secretary:

K J Taylor

Registered office:

8 Waldegrave Road

Teddington

Middlesex

TW11 8GT

Registered number:

05387593 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Fixed assets

Intangible assets

4

223,479

124,002

Tangible assets

5

4,395

5,298

227,874

129,300

Current assets

Debtors

6

322,725

303,014

Cash at bank

164,315

131,116

487,040

434,130

Creditors

Amounts falling due within one year

7

238,092

129,189

Net current assets

248,948

304,941

Total assets less current liabilities

476,822

434,241

Creditors

Amounts falling due after more than one year

8

-

(148

)

Provisions for liabilities

9

(28,370

)

(22,000

)

Net assets

448,452

412,093

Capital and reserves

Called up share capital

10

101,000

101,000

Share premium

11

20,200

20,200

Retained earnings

11

327,252

290,893

Shareholders' funds

448,452

412,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2021 and were signed on its behalf by:

R J Pietosi - Director

1.	Statutory information

Quote Searcher Limited is a private company, limited by shares , registered in England and Wales. 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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on cost

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 11 (2019 - 11 ) .

4.	Intangible fixed assets

Computer

software

£

Cost

At 1 April 2019

510,803

Additions

211,200

At 31 March 2020

722,003

Amortisation

At 1 April 2019

386,801

Amortisation for year

111,723

At 31 March 2020

498,524

Net book value

At 31 March 2020

223,479

At 31 March 2019

124,002

5.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 April 2019

12,962

Additions

368

At 31 March 2020

13,330

Depreciation

At 1 April 2019

7,664

Charge for year

1,271

At 31 March 2020

8,935

Net book value

At 31 March 2020

4,395

At 31 March 2019

5,298

6.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

274,521

289,352

Other debtors

8,132

-

Directors' current accounts

29,019

-

Prepayments

11,053

13,662

322,725

303,014

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Finance leases

148

1,674

Trade creditors

32,217

23,935

Corporation tax

(62,013

)

(32,860

)

Social security and other taxes

17,829

40,380

Other creditors

249,062

86,729

Accrued expenses

849

9,331

238,092

129,189

8.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Finance leases

-

148

9.	Provisions for liabilities

2020

2019

£

£

Deferred tax

28,370

22,000

Deferred tax

£

Balance at 1 April 2019

22,000

Charge to Profit and Loss Account during year

6,370

Balance at 31 March 2020

28,370

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

101,000

Ordinary

£1

101,000

101,000

11.

Reserves

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2019

290,893

20,200

311,093

Profit for the year

36,359

36,359

At 31 March 2020

327,252

20,200

347,452

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quote Searcher Limited for the year ended 31 March 2020 which comprise the Profit and Loss Account, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Quote Searcher Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quote Searcher Limited and state those matters that we have agreed to state to the Board of Directors of Quote Searcher Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quote Searcher Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Quote Searcher Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quote Searcher Limited. You consider that Quote Searcher 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 financial statements of Quote Searcher 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 financial statements.

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

10 March 2021