Quest2Energy Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09618353 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

FOR

QUEST2ENERGY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

H L de B Carvalho

REGISTERED OFFICE:

Suite A

Second Floor, Barry House

20-22 Worple Road

London

SW19 4DH

REGISTERED NUMBER:

09618353 (England and Wales)

ACCOUNTANTS:

William Evans & Partners

20 Harcourt Street

London

W1H 4HG

FIXED ASSETS

Investments

4

292,494

292,494

CURRENT ASSETS

Debtors

5

79,141

81,641

Cash at bank

1,932

5,375

81,073

87,016

CREDITORS

Amounts falling due within one year

6

(376,341

)

(380,887

)

NET CURRENT LIABILITIES

(295,268

)

(293,871

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,774

)

(1,377

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(2,784

)

(1,387

)

SHAREHOLDERS' FUNDS

(2,774

)

(1,377

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 March 2023 and were signed by:

H L de B Carvalho - Director

1.	STATUTORY INFORMATION

Quest2Energy 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.

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.

Investments in associates

Investments in associated companies are shown at the cost of that investment less any ,impairment provision. Directors assess the carrying value of each investment at every year end.

Income from associated companies is recognised when dividends are received. The company is not required to equity account for its share of profits and losses and assets and liabilities.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

The company owns a 17% stake in Virtual Power Solutions Limited, a private limited company registered in England and Wales, at a cost of £292,494. The directors consider this investment to be worth not less than cost.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

79,141

81,641

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

37,750

37,750

Trade creditors

(8,249

)

-

Other creditors

346,840

343,137

376,341

380,887

7.	ULTIMATE CONTROLLING PARTY

Quest JFM Investments Limited, a private limited company registered in England and Wales, is the holder of 6 ordinary shares and is therefore the parent company. As the group is a small group no consolidated accounts are available. Quest JFM Investments Limited is also the ultimate controlling party.