Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31falseNo description of principal activity2022-09-0133truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12142481 2022-09-01 2023-08-31 12142481 2023-08-31 12142481 2021-09-01 2022-08-31 12142481 2022-08-31 12142481 c:Director2 2022-09-01 2023-08-31 12142481 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-01 2023-08-31 12142481 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 12142481 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-08-31 12142481 d:CurrentFinancialInstruments 2023-08-31 12142481 d:CurrentFinancialInstruments 2022-08-31 12142481 d:Non-currentFinancialInstruments 2023-08-31 12142481 d:Non-currentFinancialInstruments 2022-08-31 12142481 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12142481 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12142481 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 12142481 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 12142481 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 12142481 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 12142481 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 12142481 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 12142481 d:ShareCapital 2023-08-31 12142481 d:ShareCapital 2022-08-31 12142481 d:RetainedEarningsAccumulatedLosses 2023-08-31 12142481 d:RetainedEarningsAccumulatedLosses 2022-08-31 12142481 c:OrdinaryShareClass1 2022-09-01 2023-08-31 12142481 c:OrdinaryShareClass1 2023-08-31 12142481 c:OrdinaryShareClass1 2022-08-31 12142481 c:OrdinaryShareClass2 2022-09-01 2023-08-31 12142481 c:OrdinaryShareClass2 2023-08-31 12142481 c:OrdinaryShareClass2 2022-08-31 12142481 c:FRS102 2022-09-01 2023-08-31 12142481 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12142481 c:FullAccounts 2022-09-01 2023-08-31 12142481 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12142481 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2022-09-01 2023-08-31 12142481 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-09-01 2023-08-31 12142481 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 12142481


QUANTUM HEALTH SOLUTIONS LIMITED








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
QUANTUM HEALTH SOLUTIONS LIMITED
REGISTERED NUMBER: 12142481

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
207,905
245,603

  
207,905
245,603

Current assets
  

Debtors: amounts falling due within one year
 5 
309,864
79,300

Cash at bank and in hand
 6 
45,325
63,089

  
355,189
142,389

Creditors: amounts falling due within one year
 7 
(231,224)
(206,571)

Net current assets/(liabilities)
  
 
 
123,965
 
 
(64,182)

Total assets less current liabilities
  
331,870
181,421

Creditors: amounts falling due after more than one year
 8 
(18,333)
(27,252)

  

Net assets
  
313,537
154,169


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
313,535
154,167

  
313,537
154,169


Page 1

 
QUANTUM HEALTH SOLUTIONS LIMITED
REGISTERED NUMBER: 12142481
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
C Baldwin
Director

Date: 22 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
QUANTUM HEALTH SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

The company is a private limited company which is incorporated and domiciled in the UK. The address
of its registered office is: 1 Vincent Square, London, SW1P 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
QUANTUM HEALTH SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
5
years

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
QUANTUM HEALTH SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
QUANTUM HEALTH SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Employees

2023
2022
£
£

Wages and salaries
72,100
52,500

Social security costs
6,283
8,760

78,383
61,260


The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Intangible assets




Develop-
ment expenditure

£



Cost


At 1 September 2022
300,603


Additions - internal
26,107



At 31 August 2023

326,710



Amortisation


At 1 September 2022
54,999


Charge for the year on owned assets
63,806



At 31 August 2023

118,805



Net book value



At 31 August 2023
207,905



At 31 August 2022
245,603



Page 6

 
QUANTUM HEALTH SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Trade debtors
299,053
62,095

Other debtors
10,811
17,205

309,864
79,300



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
45,325
63,089

45,325
63,089



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
50,136
103,109

Corporation tax
78,398
5,399

Other taxation and social security
50,673
11,155

Other creditors
39,600
76,908

Accruals and deferred income
2,417
-

231,224
206,571



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
18,333
27,252

18,333
27,252


Page 7

 
QUANTUM HEALTH SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
8,334
17,252


8,334
17,252


28,334
37,252



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 (2022 - 200) Ordinary shares of £0.01 each
2
2
37 (2022 - 37) B Ordinary shares of £0.01 each
-
-

2

2





11.


Related party transactions

As at the year end, balances were owed to C Baldwin of £9,800 (2022: £28,101), N Bowman of £9,800 (2022: £28,807) and O Bailey of £20,000 (2022: £20,000), directors of the company. The loans were made interest free and there are no strict repayment terms are in place.

 
Page 8