Quest Technical Recruitment Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03252192 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2018

for

Quest Technical Recruitment Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mrs H Spencer BA (Hons) JP

M P Hodgkinson MSc FCIOB

G Bratby BA(Hons) DipPM FCIPD

SECRETARY:

M P Hodgkinson MSc FCIOB

REGISTERED OFFICE:

Newton House

20-26 Corporation Street

Lincoln

Lincolnshire

LN2 1HN

REGISTERED NUMBER:

03252192 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

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 Quest Technical Recruitment Limited for the year ended 31 July 2018 which comprise the

Income Statement, 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 Quest Technical Recruitment 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 Quest Technical Recruitment Limited and state those matters that we have agreed to state to the Board of Directors of Quest Technical Recruitment 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 Quest Technical Recruitment Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Quest Technical Recruitment 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 loss of Quest Technical Recruitment Limited. You consider that Quest Technical Recruitment 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 Quest Technical Recruitment 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.

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

29 October 2018

FIXED ASSETS

Tangible assets

4

998

-

CURRENT ASSETS

Debtors

5

20,094

37,856

Cash at bank and in hand

3,950

9,071

24,044

46,927

CREDITORS

Amounts falling due within one year

6

87,227

86,990

NET CURRENT LIABILITIES

(63,183

)

(40,063

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(62,185

)

(40,063

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(62,285

)

(40,163

)

SHAREHOLDERS' FUNDS

(62,185

)

(40,063

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 October 2018 and were signed on its behalf by:

Mrs H Spencer BA (Hons) JP - Director

G Bratby BA(Hons) DipPM FCIPD - Director

1.	STATUTORY INFORMATION

Quest Technical Recruitment 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on a going concern basis, as the Directors have confirmed the continued support of

the parent entity LAGAT Limited, a company to whom Quest Technical Recruitment Limited owed £74,477

(2017: £59,928) at the year end. If this support was not to continue, then this basis may not be appropriate. At

the year end the Company had net current liabilities of £63,183 (2017: £40,063).

Turnover

The turnover shown in the profit and loss account represents fees generated from the company's activities

during the period, exclusive of value added tax.

Turnover is recognised on the date the invoice is issued.

Tangible fixed assets

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

Short leasehold improvements

-

Straight line over 10 years

Office & computer equipment

-

33% on cost and 25% on cost

Fixed assets are initially recorded at cost.

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 4 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Short

Office &

leasehold

computer

improvements

equipment

Totals

£

£

£

COST

At 1 August 2017

3,369

30,040

33,409

Additions

1,070

-

1,070

At 31 July 2018

4,439

30,040

34,479

DEPRECIATION

At 1 August 2017

3,369

30,040

33,409

Charge for year

72

-

72

At 31 July 2018

3,441

30,040

33,481

NET BOOK VALUE

At 31 July 2018

998

-

998

At 31 July 2017

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

17,195

28,766

Other debtors

2,899

9,090

20,094

37,856

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

100

Trade creditors

5,837

8,908

Amounts owed to group undertakings

74,477

59,928

Taxation and social security

3,260

14,869

Other creditors

3,653

3,185

87,227

86,990

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100