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Company Registration No. 09775120 (England and Wales)
Quodit Ltd Unaudited accounts for the year ended 30 September 2023
Quodit Ltd Unaudited accounts Contents
Page
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Quodit Ltd Company Information for the year ended 30 September 2023
Directors
Valerio Rossi Kerry Louise Schofield Nicholas Graham Shakeshaft
Company Number
09775120 (England and Wales)
Registered Office
71-75 Shelton Street Covent Garden London WC2H 9JQ United Kingdom
Accountants
The Accountancy Cloud 12-18 Hoxton Street London N1 6NG UK
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Quodit Ltd Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
2,456 
1,000 
Cash at bank and in hand
1,457 
7,086 
3,913 
8,086 
Creditors: amounts falling due within one year
(672,723)
(466,805)
Net current liabilities
(668,810)
(458,719)
Net liabilities
(668,810)
(458,719)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(668,820)
(458,729)
Shareholders' funds
(668,810)
(458,719)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by
Nicholas Graham Shakeshaft Director Company Registration No. 09775120
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Quodit Ltd Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Quodit Ltd is a private company, limited by shares, registered in England and Wales, registration number 09775120. The registered office is 71-75 Shelton Street, Covent Garden , London, WC2H 9JQ, United Kingdom .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Research and development
Expenditure on research and development is written off in the year in which it is incurred. Where appropriate, development expenditure is capitalised and amortised over its useful economic life.
Research and development tax credit
During the financial year, Quodit Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Quodit Ltd Notes to the Accounts for the year ended 30 September 2023
4
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Kerry Louise Schofield
233,289 
114,167 
- 
347,456 
Nicholas Graham Shakeshaft
233,288 
91,665 
- 
324,953 
466,577 
205,832 
- 
672,409 
The directors' loans are interest-free and repayable on demand.
5
Average number of employees
During the year the average number of employees was 4 (2022: 5).
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