QUANTUM SECURITIES LTD
Registered number: 03249445
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,191,387 12,303,909
Investments 4 1,076,445 1,076,445
14,267,832 13,380,354
Current assets
Debtors 5 492,665 410,822
Cash at bank and in hand 886,460 1,228,363
1,379,125 1,639,185
Creditors: amounts falling due within one year 6 (208,919) (165,538)
Net current assets 1,170,206 1,473,647
Total assets less current liabilities 15,438,038 14,854,001
Creditors: amounts falling due after more than one year 7 (5,290,961) (4,789,975)
Net assets 10,147,077 10,064,026
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 8 7,649,458 7,649,458
Profit and loss account 2,496,619 2,413,568
Shareholders' funds 10,147,077 10,064,026
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MR M U AHMED
Director
Approved by the board on 3 February 2024
QUANTUM SECURITIES LTD
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2022 12,286,560 63,477 12,350,037
Additions 890,080 - 890,080
At 31 January 2023 13,176,640 63,477 13,240,117
Depreciation
At 1 February 2022 - 46,128 46,128
Charge for the year - 2,602 2,602
At 31 January 2023 - 48,730 48,730
Net book value
At 31 January 2023 13,176,640 14,747 13,191,387
At 31 January 2022 12,286,560 17,349 12,303,909
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2022 1,076,445
At 31 January 2023 1,076,445
5 Debtors 2023 2022
£ £
Trade debtors 232,247 158,574
Other debtors 260,418 252,248
492,665 410,822
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 163,799 61,800
Corporation tax 32,296 48,598
Other taxes and social security costs 12,824 29,614
Other creditors - 25,526
208,919 165,538
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,044,623 4,274,975
Director loan subordinated to Handlesbanken 246,338 515,000
5,290,961 4,789,975
8 Revaluation reserve 2023 2022
£ £
At 1 February 2022 7,649,458 7,649,458
At 31 January 2023 7,649,458 7,649,458
9 Other information
QUANTUM SECURITIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
40 BANK STREET
30TH FLOOR
CANARY WHARF
LONDON
E14 5NR
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