Company registration number 12608794 (England and Wales)
QUATRA UK LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
QUATRA UK LTD
CONTENTS
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 9
QUATRA UK LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
- 1 -

The director presents his annual report and financial statements for the year ended 31 December 2022.

Principal activities

The principal activity of the company is that of waste management services.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr Piet Van Pollaert
Mr Lucas Nogueira Siqueira                                        (Resigned 14 August 2023)
Auditor

S4B (UK) Limited were appointed as auditor to the company and in accordance with section 485 of the

Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr Piet Van Pollaert
Director
11 March 2024
QUATRA UK LTD
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
4
1,426,785
981,537
Tangible assets
5
1,152,045
491,715
2,578,830
1,473,252
Current assets
Stocks
988,689
146,309
Debtors
6
1,604,438
911,903
Cash at bank and in hand
480,407
187,142
3,073,534
1,245,354
Creditors: amounts falling due within one year
7
(4,273,383)
(1,893,697)
Net current liabilities
(1,199,849)
(648,343)
Total assets less current liabilities
1,378,981
824,909
Creditors: amounts falling due after more than one year
8
(2,171,620)
(1,454,192)
Net liabilities
(792,639)
(629,283)
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
(792,649)
(629,293)
Total equity
(792,639)
(629,283)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 11 March 2024 and are signed on its behalf by:
Mr Piet Van Pollaert
Director
Company Registration No. 12608794
QUATRA UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

Quatra UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5 Sergro Park Perivale, Horseden Lane South, Perivale, Greenford, UB7 7RL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

QUATRA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
5 years on a straight line basis
Plant and equipment
5 years on a straight line basis
Fixtures and fittings
5 years on a straight line basis
Computers
5 years on a straight line basis
Motor vehicles
5 years on a straight line basis
Motor vehicles (hire purchase)
3 years on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

QUATRA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

QUATRA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

QUATRA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
28
16
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2022
1,077,936
Additions
600,300
Disposals
(44,000)
At 31 December 2022
1,634,236
Amortisation and impairment
At 1 January 2022
96,399
Amortisation charged for the year
111,052
At 31 December 2022
207,451
Carrying amount
At 31 December 2022
1,426,785
At 31 December 2021
981,537
QUATRA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 8 -
5
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2022
18,540
71,229
-
0
23,365
473,324
586,458
Additions
6,639
309,672
21,555
9,597
598,193
945,656
Disposals
-
0
-
0
-
0
-
0
(85,500)
(85,500)
At 31 December 2022
25,179
380,901
21,555
32,962
986,017
1,446,614
Depreciation and impairment
At 1 January 2022
2,784
14,336
-
0
2,997
74,626
94,743
Depreciation charged in the year
3,828
20,005
2,047
5,128
204,714
235,722
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(35,896)
(35,896)
At 31 December 2022
6,612
34,341
2,047
8,125
243,444
294,569
Carrying amount
At 31 December 2022
18,567
346,560
19,508
24,837
742,573
1,152,045
At 31 December 2021
15,756
56,893
-
0
20,368
398,698
491,715
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
535,583
203,874
Other debtors
1,000,147
661,681
Prepayments and accrued income
68,708
46,348
1,604,438
911,903
7
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
-
0
4,815
Trade creditors
766,553
456,870
Obligations under finance leases
117,480
64,487
Taxation and social security
(36,022)
48,298
Group creditors
3,300,524
999,325
Other creditors
377
-
0
Accruals
124,471
319,902
4,273,383
1,893,697
QUATRA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 9 -
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Obligations under finance leases
117,009
115,958
Group creditors
2,054,611
1,338,234
2,171,620
1,454,192
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
John Finbarr O'Mahony
Statutory Auditor:
S4B (UK) Limited
Date of audit report:
11 March 2024
10
Related party transactions

The company has taken advantage of the exemption in Financial Reporting Standard Number 102 Section 33.1A from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company.

11
Parent company

The parent company of the smallest and largest group of which this company is a a member of is Quatra International NV, a company incorporated in Lokeren, Belgium. The accounts for this company are available from Hoekstraat 165, 9160 Lokeren (BE0759.707.562).

2022-12-312022-01-01false11 March 2024CCH SoftwareCCH Accounts Production 2023.300The principal activity of the company is that of waste management services.This audit opinion is unqualifiedMr P Van PollaertMr L Nogueira Siqueirafalse126087942022-01-012022-12-3112608794bus:Director12022-01-012022-12-31126087942022-12-31126087942021-12-3112608794core:NetGoodwill2022-12-3112608794core:NetGoodwill2021-12-3112608794core:LeaseholdImprovements2022-12-3112608794core:PlantMachinery2022-12-3112608794core:FurnitureFittings2022-12-3112608794core:ComputerEquipment2022-12-3112608794core:MotorVehicles2022-12-3112608794core:LeaseholdImprovements2021-12-3112608794core:PlantMachinery2021-12-3112608794core:FurnitureFittings2021-12-3112608794core:ComputerEquipment2021-12-3112608794core:MotorVehicles2021-12-3112608794core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3112608794core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3112608794core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3112608794core:Non-currentFinancialInstrumentscore:AfterOneYear2021-12-3112608794core:CurrentFinancialInstruments2022-12-3112608794core:CurrentFinancialInstruments2021-12-3112608794core:Non-currentFinancialInstruments2022-12-3112608794core:Non-currentFinancialInstruments2021-12-3112608794core:ShareCapital2022-12-3112608794core:ShareCapital2021-12-3112608794core:RetainedEarningsAccumulatedLosses2022-12-3112608794core:RetainedEarningsAccumulatedLosses2021-12-3112608794core:Goodwill2022-01-012022-12-3112608794core:LeaseholdImprovements2022-01-012022-12-3112608794core:PlantMachinery2022-01-012022-12-3112608794core:FurnitureFittings2022-01-012022-12-3112608794core:ComputerEquipment2022-01-012022-12-3112608794core:MotorVehicles2022-01-012022-12-3112608794core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-01-012022-12-31126087942021-01-012021-12-3112608794core:NetGoodwill2021-12-3112608794core:NetGoodwill2022-01-012022-12-3112608794core:LeaseholdImprovements2021-12-3112608794core:PlantMachinery2021-12-3112608794core:FurnitureFittings2021-12-3112608794core:ComputerEquipment2021-12-3112608794core:MotorVehicles2021-12-31126087942021-12-3112608794core:Non-currentFinancialInstruments12022-12-3112608794core:Non-currentFinancialInstruments12021-12-3112608794bus:PrivateLimitedCompanyLtd2022-01-012022-12-3112608794bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3112608794bus:FRS1022022-01-012022-12-3112608794bus:Audited2022-01-012022-12-3112608794bus:Director22022-01-012022-12-3112608794bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP