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REGISTERED NUMBER: 04580841 (England and Wales)















QUANTUM CONSTRUCTION LIMITED

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022






QUANTUM CONSTRUCTION LIMITED (REGISTERED NUMBER: 04580841)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Report of the Directors 3

Balance Sheet 4

Notes to the Financial Statements 5


QUANTUM CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: D J F Gallagher
J M Gallagher
M J Gallagher
S Harrison
R J Keatley
J P Price





SECRETARY: R J Keatley





REGISTERED OFFICE: Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL





BUSINESS ADDRESS: Unit 1, Fairway Court
Amber Close
Amington
Tamworth
Staffordshire
B77 4RP





REGISTERED NUMBER: 04580841 (England and Wales)






QUANTUM CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







AUDITORS: Sephton & Company LLP
Chartered Certified Accountants
Statutory Auditors
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

QUANTUM CONSTRUCTION LIMITED (REGISTERED NUMBER: 04580841)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2022


The directors present their report with the financial statements of the company for the year ended 31 March 2022.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2021 to the date of this report.

D J F Gallagher
J M Gallagher
M J Gallagher
S Harrison
R J Keatley
J P Price

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.

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:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Sephton & Company LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:



R J Keatley - Secretary


30 August 2022

QUANTUM CONSTRUCTION LIMITED (REGISTERED NUMBER: 04580841)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,797 28,609

CURRENT ASSETS
Debtors 5 4,186,003 2,896,716
Cash at bank and in hand 3,210,710 1,540,799
7,396,713 4,437,515
CREDITORS
Amounts falling due within one year 6 5,277,222 2,638,094
NET CURRENT ASSETS 2,119,491 1,799,421
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,160,288

1,828,030

CREDITORS
Amounts falling due after more than one
year

7

(1,082,738

)

(765,471

)

PROVISIONS FOR LIABILITIES (7,688 ) (4,833 )
NET ASSETS 1,069,862 1,057,726

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,069,662 1,057,526
SHAREHOLDERS' FUNDS 1,069,862 1,057,726

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 Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:




D J F Gallagher - Director



M J Gallagher - Director


QUANTUM CONSTRUCTION LIMITED (REGISTERED NUMBER: 04580841)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Quantum Construction 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.

Turnover
Turnover represents net invoiced sales in respect of service contracts where turnover is recognised when the company obtains the right to consideration and has been wholly generated within the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, cash and bank balances, loans to or from related parties and current asset investments. All such instruments are measured initially and subsequently at the transaction price.

At the end of each reporting period debt financial assets are assessed for impairment, and their carrying value reduced if necessary. Any impairment is recognised in the profit and loss account.

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.


QUANTUM CONSTRUCTION LIMITED (REGISTERED NUMBER: 04580841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued
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.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account 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 26 (2021 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2021 2,555 52,269 13,985 57,783 126,592
Additions 5,621 138 - 19,745 25,504
Disposals - - - (15,047 ) (15,047 )
At 31 March 2022 8,176 52,407 13,985 62,481 137,049
DEPRECIATION
At 1 April 2021 2,514 50,186 9,837 35,446 97,983
Charge for year 362 541 1,037 11,376 13,316
Eliminated on disposal - - - (15,047 ) (15,047 )
At 31 March 2022 2,876 50,727 10,874 31,775 96,252
NET BOOK VALUE
At 31 March 2022 5,300 1,680 3,111 30,706 40,797
At 31 March 2021 41 2,083 4,148 22,337 28,609

QUANTUM CONSTRUCTION LIMITED (REGISTERED NUMBER: 04580841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


5. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 2,654,436 1,984,243
Amounts owed by group undertakings 497,066 317,066
Other debtors 43,307 41,651
3,194,809 2,342,960

Amounts falling due after more than one year:
Trade debtors 991,194 553,756

Aggregate amounts 4,186,003 2,896,716

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 4,319,929 2,328,342
Taxation and social security 909,914 270,049
Other creditors 47,379 39,703
5,277,222 2,638,094

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Trade creditors 1,082,738 765,471

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 30,000 30,000
Between one and five years 60,000 90,000
90,000 120,000

9. FAIR VALUE MEASUREMENT

Retentions in respect of assets and liabilities have been recognized at fair value using an interest rate for similar derivatives at the balance sheet date. Included in debtors is a fair value of £991,194 (2021 - £553,756) in respect of sales retentions. Included in creditors is a fair value of £1,082,738 (2021 - £765,471) in respect of subcontractors retentions. Income statement includes £1,803 interest payable (2021 - interest receivable £2,023) in respect of the change in fair value.

QUANTUM CONSTRUCTION LIMITED (REGISTERED NUMBER: 04580841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Douglas Connell (Senior Statutory Auditor)
for and on behalf of Sephton & Company LLP

11. ULTIMATE CONTROLLING PARTY

Qubit Zero One Limited is regarded by the directors as the Company's holding company and ultimate controlling party. Qubit Zero One Limited is incorporated in England and Wales. Copies of the accounts are available from the registered office at Marston House, 5 Elmdon Lane, Marston Green, Solihull, West Midlands, B37 7DL.