Company registration number 05647568 (England and Wales)
QUADRATICA TRAINING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023
QUADRATICA TRAINING LIMITED
COMPANY INFORMATION
Directors
A Mixer
(Appointed 31 August 2022)
K Kent
(Appointed 31 August 2022)
P Diamond
(Appointed 14 April 2023)
Secretary
Gravitas Company Secretarial Services Limited
Company number
05647568
Registered office
5th Floor
One New Change
London
EC4M 9AF
Auditor
Mercer & Hole LLP
72 London Road
St Albans
Hertfordshire
AL1 1NS
QUADRATICA TRAINING LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 18
QUADRATICA TRAINING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 29 JUNE 2023
- 1 -

The directors present the strategic report for the year ended 29 June 2023.

Performance for the year

The Company continues to provide airport and aviation security training and is the producer of the world's first web based x-ray training and screener training system. The directors consider the results for the year to be satisfactory and are optimistic about the future prospects of the company.

 

Business environment

The company operates in the airport and aviation security training market. There is an increased alertness towards terrorist threats and border control.

Strategic objectives

The Company's objective is to achieve sustainable growth through a combination of product development and market expansion.

 

The key elements to the company's growth strategy are:

Product development

The Company will continue to develop its products which meet the changing requirements for security training. The Company has skills in human interface design, product design and high-end programming. The Company develops adaptable technologies to stay ahead of the threats which impact the security industry.

 

Market expansion

The Company has introduced mobile versions and web based training systems which can be accessed world wide.

Future outlook

The directors believe the growth in the security screening market will help the Company achieve its strategy.

Principal risks and uncertainties

The key business risks affecting the Company are set out below:

 

The company faces competition from the other UK Civil Aviation Authority (CAA) registered training providers.

 

Financial risk management

 

From the perspective of the company, the financial risks and uncertainties are integrated with those of the OSI Systems Inc. group to which it belongs and are not managed separately. Accordingly, the principal financial risks and uncertainties of OSI Systems Inc., are discussed on pages 17-31 Part I, Item 1A "Risk Factors" of the 2023 Form 10k published on 24 August 2023 which does not form part of this report.

 

The Company's operations expose it to a variety of financial risks that include the effects of changes in credit risk and liquidity risk.

 

Credit risk

Financial instruments that are potentially subject to concentration of credit risk consist primarily of cash and cash equivalents. The company restricts investments in cash equivalents to financial institutions with high credit standing.

 

Liquidity risk

The company has sufficient funds to cover it's operations.

 

Interest risk

The company does not have any external loans, so there is not an interest risk.

QUADRATICA TRAINING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 2 -

On behalf of the board

K Kent
Director
24 July 2024
QUADRATICA TRAINING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 29 JUNE 2023
- 3 -

The directors present their annual report and financial statements for the year ended 29 June 2023.

Principal activities

The principal activity of the company continued to be that of technology consultancy services.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

A Mixer
(Appointed 31 August 2022)
K Kent
(Appointed 31 August 2022)
P Diamond
(Appointed 14 April 2023)
P Lattin
(Appointed 31 August 2022 and resigned 14 April 2023)
B Holt
(Resigned 31 August 2022)
G M Ramsden
(Resigned 31 August 2022)
Auditor

Mercer & Hole LLP 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.

Energy and carbon report

As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

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.

Going concern

Subsequent to the year end, the directors decided the Company will be closed within 12 months of the approval date of these financial statements. Accordingly, the directors have concluded that it is appropriate for these financial statements to not be prepared on a going concern basis.

On behalf of the board
K Kent
Director
24 July 2024
QUADRATICA TRAINING LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 29 JUNE 2023
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

QUADRATICA TRAINING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF QUADRATICA TRAINING LIMITED
- 5 -
Opinion

We have audited the financial statements of Quadratica Training Limited (the 'company') for the year ended 29 June 2023 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter - financial statements prepared on a basis other than going concern

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 1.2 to the financial statements. In their assessment of going concern, the directors have concluded that the company no longer has a trade and the financial statements have therefore been prepared on a basis other than a going concern.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

QUADRATICA TRAINING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF QUADRATICA TRAINING LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Based on our understanding of the industry, we identified that the principal risks of non-compliance with laws and regulations related to breaches arising from General Data Protection Regulation and we considered the extent to which non-compliance may have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries including journals to understate revenue or overstate expenditure, and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

QUADRATICA TRAINING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF QUADRATICA TRAINING LIMITED (CONTINUED)
- 7 -

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Ross Lane
Senior Statutory Auditor
For and on behalf of Mercer & Hole LLP
29 July 2024
Chartered Accountants
Statutory Auditor
72 London Road
St Albans
Hertfordshire
AL1 1NS
QUADRATICA TRAINING LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 29 JUNE 2023
- 8 -
Unaudited
Year
Period
ended
ended
29 June
29 June
2023
2022
Notes
£
£
Turnover
3
17,844
3,117
Administrative expenses
(4,505)
(4,898)
Waiver of amounts owed to group entities
4
397,019
-
0
Profit/(loss) before taxation
410,358
(1,781)
Tax on profit/(loss)
8
-
0
-
0
Profit/(loss) for the financial year
410,358
(1,781)
QUADRATICA TRAINING LIMITED
BALANCE SHEET
AS AT 29 JUNE 2023
29 June 2023
- 9 -
Unaudited
2023
2022
Notes
£
£
£
£
Current assets
Debtors
11
828
2,493
Cash at bank and in hand
72,523
48,055
73,351
50,548
Creditors: amounts falling due within one year
12
(6,728)
(394,283)
Net current assets/(liabilities)
66,623
(343,735)
Capital and reserves
Called up share capital
13
100,000
100,000
Profit and loss reserves
(33,377)
(443,735)
Total equity
66,623
(343,735)
The financial statements were approved by the board of directors and authorised for issue on 24 July 2024 and are signed on its behalf by:
K Kent
Director
Company registration number 05647568 (England and Wales)
QUADRATICA TRAINING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 JUNE 2023
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022 (unaudited)
100,000
(441,954)
(341,954)
Period ended 29 June 2022:
Loss and total comprehensive income
-
(1,781)
(1,781)
Balance at 29 June 2022 (unaudited)
100,000
(443,735)
(343,735)
Year ended 29 June 2023:
Profit and total comprehensive income
-
410,358
410,358
Balance at 29 June 2023
100,000
(33,377)
66,623
QUADRATICA TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023
- 11 -
1
Accounting policies
Company information

Quadratica Training Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, One New Change, London, EC4M 9AF.

1.1
Reporting period

The company's financial reporting date was previously 31 December. This was changed in the prior period to 29 June to align with the company's new parent company's reporting period. The comparatives cover a 6 month period from 1 January 2022 to 29 June 2022 and are therefore not wholly comparable with the current period which covers a full 12 months.

1.2
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.

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. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of OSI Systems Inc.. These consolidated financial statements are available from its registered office, as disclosed in note 15.

In the prior period, the company qualified for an exemption from audit under Section 477 of the Companies Act 2006 and therefore the comparative results presented in these financial statements are unaudited.

1.3
Going concern

The directors intention is to close the company post year end. The directors have resolved they they do not consider the company to be a going concern. These financial statements have not been prepared on a going concern basis.true

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

QUADRATICA TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
1
Accounting policies
(Continued)
- 12 -
1.5
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.

1.6
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.

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:

Computers
25% Straight Line

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.

1.7
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.

1.8
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.

 

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.

QUADRATICA TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
1
Accounting policies
(Continued)
- 13 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

QUADRATICA TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
1
Accounting policies
(Continued)
- 14 -
1.10
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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
Turnover

The company's turnover derives wholly from its principal activity.

Unaudited
2023
2022
£
£
Turnover analysed by geographical market
United Kingdom
17,844
3,117
4
Exceptional item
Unaudited
2023
2022
£
£
Expenditure
Waiver of amounts owed to group entities
(397,019)
-
5
Operating profit/(loss)
Unaudited
2023
2022
Operating profit/(loss) for the year is stated after charging:
£
£
Operating lease charges
5,699
3,375
QUADRATICA TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 15 -
6
Auditor's remuneration
Unaudited
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
3,000
-
0
For other services
Taxation compliance services
1,300
-
0
All other non-audit services
1,200
-
0
2,500
-
7
Employees

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

Unaudited
2023
2022
Number
Number
Total
-
0
-
0

The company's directors are remunerated by other group entities.

8
Taxation

An increase in the UK corporation tax rate from 19% to 25% (effective from 1 April 2023) was substantively enacted on 10 June 2021.The increase in the rate will apply to companies with profits over £250k. Also announced in the Budget on 3 March 2021 was the introduction of small profits rate of 19% to apply to profits under £50k with a tapered rate to apply on profits above this threshold but under £250k.

QUADRATICA TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
8
Taxation
(Continued)
- 16 -

The actual charge for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit/(loss) before taxation
410,358
(1,781)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 20.48% (2022: 19.00%)
84,041
(338)
Tax effect of income not taxable in determining taxable profit
(81,307)
-
0
Unutilised tax losses carried forward
-
0
338
Change in unrecognised deferred tax assets
(2,734)
-
0
Taxation charge for the year
-
-

The company has tax losses of £109,700 (2022: £123,040) to utilise against future tax profits. No deferred tax asset has been recognised in respect of them as the directors are planning to close the company.

9
Intangible fixed assets
Goodwill
£
Cost
At 30 June 2022 (unaudited)
93,241
Disposals
(93,241)
At 29 June 2023
-
0
Amortisation and impairment
At 30 June 2022 (unaudited)
93,241
Disposals
(93,241)
At 29 June 2023
-
0
Carrying amount
At 29 June 2023
-
0
At 29 June 2022 (unaudited)
-
0
QUADRATICA TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 17 -
10
Tangible fixed assets
Computers
£
Cost
At 30 June 2022 (unaudited)
7,581
Disposals
(7,581)
At 29 June 2023
-
0
Depreciation and impairment
At 30 June 2022 (unaudited)
7,581
Eliminated in respect of disposals
(7,581)
At 29 June 2023
-
0
Carrying amount
At 29 June 2023
-
0
At 29 June 2022 (unaudited)
-
0
11
Debtors
Unaudited
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
828
2,448
Other debtors
-
0
45
828
2,493
12
Creditors: amounts falling due within one year
Unaudited
2023
2022
£
£
Amounts owed to group undertakings
-
0
392,983
Taxation and social security
138
-
0
Other creditors
1,440
-
0
Accruals and deferred income
5,150
1,300
6,728
394,283
13
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100,000
100,000
100,000
100,000
QUADRATICA TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 18 -
14
Related party transactions

The company has taken advantage of the exemption under FRS 102 section 33.1A, as a wholly owned subsidiary of OSI Systems Inc. and has not disclosed details of transactions with other wholly owned group companies.

15
Ultimate controlling party

The company is a wholly owned subsidiary of Quadratica (UK) Limited.

 

The directors consider OSI Systems Inc. to be the controlling ultimate parent company and a copy of this company's accounts can be obtained from 12525 Chadron Avenue, Hawthorne, CA 90250, USA.

2023-06-292022-06-30falseCCH SoftwareCCH Accounts Production 2024.100A MixerK KentP DiamondP LattinB HoltG M RamsdenGravitas Company Secretarial Services Limitedfalsefalse056475682022-06-302023-06-2905647568bus:Director12022-06-302023-06-2905647568bus:Director22022-06-302023-06-2905647568bus:Director32022-06-302023-06-2905647568bus:CompanySecretary12022-06-302023-06-2905647568bus:Director42022-06-302023-06-2905647568bus:Director52022-06-302023-06-2905647568bus:Director62022-06-302023-06-2905647568bus:RegisteredOffice2022-06-302023-06-29056475682023-06-29056475682022-01-012022-06-290564756812022-06-302023-06-290564756812022-01-012022-06-2905647568core:RetainedEarningsAccumulatedLosses2022-01-012022-06-2905647568core:RetainedEarningsAccumulatedLosses2022-06-302023-06-29056475682022-06-2905647568core:ShareCapital2023-06-2905647568core:ShareCapital2022-06-2905647568core:RetainedEarningsAccumulatedLosses2023-06-2905647568core:RetainedEarningsAccumulatedLosses2022-06-2905647568core:ShareCapital2021-12-3105647568core:RetainedEarningsAccumulatedLosses2021-12-3105647568core:Goodwill2022-06-302023-06-2905647568core:ComputerEquipment2022-06-302023-06-2905647568core:UKTax2022-06-302023-06-2905647568core:UKTax2022-01-012022-06-2905647568core:Goodwill2022-06-2905647568core:Goodwill2023-06-2905647568core:Goodwill2022-06-2905647568core:ComputerEquipment2022-06-2905647568core:ComputerEquipment2023-06-2905647568core:ComputerEquipment2022-06-2905647568core:CurrentFinancialInstruments2023-06-2905647568core:CurrentFinancialInstruments2022-06-2905647568bus:PrivateLimitedCompanyLtd2022-06-302023-06-2905647568bus:FRS1022022-06-302023-06-2905647568bus:Audited2022-06-302023-06-2905647568bus:FullAccounts2022-06-302023-06-29xbrli:purexbrli:sharesiso4217:GBP