2022-11-012023-12-312023-12-31false09825951QUANTUM DEVELOPERS 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QUANTUM DEVELOPERS LIMITED

Registered Number
09825951
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2023

QUANTUM DEVELOPERS LIMITED
Company Information
for the period from 1 November 2022 to 31 December 2023

Directors

Akintunde, Adewale Henry, Dr
Oginni, Olaleye Olakunle, Dr

Registered Address

2nd Floor, Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

09825951 (England and Wales)
QUANTUM DEVELOPERS LIMITED
Balance Sheet as at
31 December 2023

Notes

31 Dec 2023

31 Oct 2022

£

£

£

£

Fixed assets
Investment property3-57,680
-57,680
Current assets
Debtors22
Cash at bank and on hand4,343455
4,345457
Creditors amounts falling due within one year4(17,857)(18,927)
Net current assets (liabilities)(13,512)(18,470)
Total assets less current liabilities(13,512)39,210
Creditors amounts falling due after one year5-(56,866)
Net assets(13,512)(17,656)
Capital and reserves
Called up share capital22
Profit and loss account(13,514)(17,658)
Shareholders' funds(13,512)(17,656)
The financial statements were approved and authorised for issue by the Board of Directors on 19 February 2024, and are signed on its behalf by:
Akintunde, Adewale Henry, Dr
Director
Registered Company No. 09825951
QUANTUM DEVELOPERS LIMITED
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognized in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year00
3.Investment property

£
Fair value at 01 November 2257,680
Disposals(57,680)
At 31 December 23-
4.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts-2,207
Other creditors16,89715,760
Accrued liabilities and deferred income960960
Total17,85718,927
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.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts-56,866
Total-56,866
6.Related party transactions
Other Creditors include balance of £7,170 (2022: £7,170) relates to Davies Lead Limited where Dr Olaleye Oginni is shareholder and director. Director's current account balance of £9,090 (2020: £8,590) relates to Dr Adewale Henry Akintunde and £637 (2022: £Nil) relates to Dr Olakunle Olaleye OGINNI.