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Report of the Directors and |
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Financial Statements |
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for the Year Ended 31 July 2016 |
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for |
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QUEST GROUP HOLDINGS LIMITED |
REGISTERED NUMBER:
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Report of the Directors and |
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Financial Statements |
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for the Year Ended 31 July 2016 |
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for |
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QUEST GROUP HOLDINGS LIMITED |
QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Contents of the Financial Statements |
for the year ended 31 July 2016 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Report of the Independent Auditors | 3 |
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Income Statement | 5 |
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Balance Sheet | 6 |
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Statement of Changes in Equity | 7 |
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Notes to the Financial Statements | 8 |
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Reconciliation of Equity | 10 |
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Reconciliation of Profit | 12 |
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QUEST GROUP HOLDINGS LIMITED |
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Company Information |
for the year ended 31 July 2016 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Auditors: |
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Chartered Accountants |
Statutory Auditors |
Coopers House |
65a Wingletye Lane |
Hornchurch |
Essex |
RM11 3AT |
QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Report of the Directors |
for the year ended 31 July 2016 |
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The directors present their report with the financial statements of the company for the year ended 31 July 2016. |
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Directors |
The directors shown below have held office during the whole of the period from 1 August 2015 to the date of this |
report. |
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Other changes in directors holding office are as follows: |
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Statement of directors' responsibilities |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with |
applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the |
directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted |
Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors |
must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of |
affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, |
the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible |
for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of |
fraud and other irregularities. |
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Statement as to disclosure of information to auditors |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies |
Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to |
have taken as a director in order to make himself aware of any relevant audit information and to establish that the |
company's auditors are aware of that information. |
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Auditors |
The auditors, Haines Watts Essex LLP, will be proposed for re-appointment at the forthcoming Annual General |
Meeting. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to |
small companies. |
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On behalf of the board: |
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Report of the Independent Auditors to the Members of |
Quest Group Holdings Limited |
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We have audited the financial statements of Quest Group Holdings Limited for the year ended 31 July 2016 on pages |
five to twelve. The financial reporting framework that has been applied in their preparation is applicable law and United |
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
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Respective responsibilities of directors and auditors |
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Scope of the audit of the financial statements |
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give |
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or |
error. This includes an assessment of: whether the accounting policies are appropriate to the company's |
circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant |
accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we |
read all the financial and non-financial information in the Report of the Directors to identify material inconsistencies |
with the audited financial statements and to identify any information that is apparently materially incorrect based on, or |
materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of |
any apparent material misstatements or inconsistencies we consider the implications for our report. |
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Opinion on financial statements |
In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 31 July 2016 and of its profit for the year then
ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Opinion on other matter prescribed by the Companies Act 2006 |
In our opinion the information given in the Report of the Directors for the financial year for which the financial |
statements are prepared is consistent with the financial statements. |
Report of the Independent Auditors to the Members of |
Quest Group Holdings Limited |
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Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to |
you if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
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the directors were not entitled to prepare the financial statements in accordance with the small companies regime
and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
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for and on behalf of
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Chartered Accountants |
Statutory Auditors |
Coopers House |
65a Wingletye Lane |
Hornchurch |
Essex |
RM11 3AT |
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QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Income Statement |
for the year ended 31 July 2016 |
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31.7.16 | 31.7.15 |
Notes | £ | £ |
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Turnover |
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Operating profit |
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Income from shares in group undertakings |
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Profit before taxation |
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Tax on profit |
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Profit for the financial year |
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QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Balance Sheet |
31 July 2016 |
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31.7.16 | 31.7.15 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
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Creditors |
Amounts falling due within one year | 5 |
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Net current liabilities | ( |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital |
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Capital redemption reserve |
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Shareholders' funds |
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The financial statements were approved by the Board of Directors on
by: |
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QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Statement of Changes in Equity |
for the year ended 31 July 2016 |
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Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
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Balance at 1 August 2014 |
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Changes in equity |
Balance at 31 July 2015 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 31 July 2016 |
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QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Notes to the Financial Statements |
for the year ended 31 July 2016 |
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1. | Statutory information |
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Quest Group Holdings Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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This is the first year in which the financial statements have been prepared under FRS 102. FRS 102 is |
mandatory for small companies for accounting periods beginning on or after 1 January 2016 but may be |
applied early to periods beginning on or after 1 January 2015. Quest Group Holdings Limited has taken the |
option to apply the standard early in the preparation of these financial statements.Transition to FRS 102 has |
not resulted in any changes in accounting policies, amounts stated in comparative period income or previously |
reported equity shareholders' funds. |
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The preparation of the financial statements requires management to make judgements, estimates and |
assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the |
amounts reported for revenues and expenses during the year. The nature of estimation means that actual |
outcomes could differ from those estimates.The key judgements, estimates and assumptions are outlined in the |
company's principal accounting policies which are set out below. |
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Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. Timing differences are recognised in respect of deferred tax assets to the extent that it is |
more likely than not that they will be recovered. |
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3. | Dividends |
31.7.16 | 31.7.15 |
£ | £ |
Ordinary 'A' shares of £1 each |
Interim |
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4. | Fixed asset investments |
Shares in |
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undertakings |
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Cost |
At 1 August 2015 |
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Additions |
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At 31 July 2016 |
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Net book value |
At 31 July 2016 |
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At 31 July 2015 |
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QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2016 |
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5. | Creditors: amounts falling due within one year |
31.7.16 | 31.7.15 |
£ | £ |
Amounts owed to group undertakings |
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QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Reconciliation of Equity |
1 August 2014 |
(Date of Transition to FRS 102) |
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Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
Notes | £ | £ | £ |
Fixed assets |
Investments | 32,446 |
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32,446 |
Creditors |
Amounts falling due within one year | (32,246 | ) |
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(32,246 | ) |
Total assets less current liabilities | 200 |
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200 |
Net assets | 200 |
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200 |
Capital and reserves |
Called up share capital | 100 |
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100 |
Capital redemption reserve | 100 |
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100 |
Shareholders' funds | 200 |
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200 |
QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Reconciliation of Equity - continued |
31 July 2015 |
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Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
Notes | £ | £ | £ |
Fixed assets |
Investments | 32,446 |
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32,446 |
Creditors |
Amounts falling due within one year | (32,246 | ) |
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(32,246 | ) |
Total assets less current liabilities | 200 |
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200 |
Net assets | 200 |
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200 |
Capital and reserves |
Called up share capital | 100 |
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100 |
Capital redemption reserve | 100 |
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100 |
Shareholders' funds | 200 |
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200 |
QUEST GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05391415) |
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Reconciliation of Profit |
for the year ended 31 July 2015 |
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Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
£ | £ | £ |
Turnover | - |
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Operating profit | - |
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Profit before taxation | - |
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Tax on profit | - |
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Profit for the financial year | - |
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