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REGISTERED NUMBER: 06543734 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

QuoLux Limited

QuoLux Limited (Registered number: 06543734)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QuoLux Limited

Company Information
for the Year Ended 30 April 2024







Directors: S Barnes
J L Draper
R A Draper Ramos





Secretary: P A Barnes





Registered office: B9 Elmbridge Court
Cheltenham Road East
Gloucester
GL3 1JZ





Registered number: 06543734 (England and Wales)





Accountants: Crowthers Chartered Accountants
15 St Georges Road
Cheltenham
Gloucestershire
GL50 3DT

QuoLux Limited (Registered number: 06543734)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,079 39,757
Tangible assets 5 2,326 7,542
Investments 6 50 50
33,455 47,349

CURRENT ASSETS
Debtors 7 211,351 139,051
Cash at bank 207,804 288,096
419,155 427,147
CREDITORS
Amounts falling due within one year 8 213,512 243,799
NET CURRENT ASSETS 205,643 183,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

239,098

230,697

CREDITORS
Amounts falling due after more than one year 9 (28,242 ) (33,796 )

PROVISIONS FOR LIABILITIES (37 ) (1,401 )
NET ASSETS 210,819 195,500

CAPITAL AND RESERVES
Called up share capital 10 121 121
Share premium 32,768 32,768
Retained earnings 177,930 162,611
SHAREHOLDERS' FUNDS 210,819 195,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

QuoLux Limited (Registered number: 06543734)

Balance Sheet - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





S Barnes - Director


QuoLux Limited (Registered number: 06543734)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

QuoLux Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The company is B Corp Certified. Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets
Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software - 5 years straight line
Trademarks, patents and licences - 10 years straight line

Trademarks, patents and licences
Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 10 years which is their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line/reducing balance] basis over its expected useful life, as follows:

Leasehold improvements - 5 years straight line
Fixtures and fittings - 3 years straight line
Computer equipment - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

QuoLux Limited (Registered number: 06543734)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 payment ts 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


QuoLux Limited (Registered number: 06543734)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
Cost
At 1 May 2023
and 30 April 2024 336,000 65,991 401,991
Amortisation
At 1 May 2023 336,000 26,234 362,234
Charge for year - 8,678 8,678
At 30 April 2024 336,000 34,912 370,912
Net book value
At 30 April 2024 - 31,079 31,079
At 30 April 2023 - 39,757 39,757

QuoLux Limited (Registered number: 06543734)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 May 2023
and 30 April 2024 80,274
Depreciation
At 1 May 2023 72,732
Charge for year 5,216
At 30 April 2024 77,948
Net book value
At 30 April 2024 2,326
At 30 April 2023 7,542

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 May 2023
and 30 April 2024 50
Net book value
At 30 April 2024 50
At 30 April 2023 50

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 202,599 113,233
Amounts owed by group undertakings - 672
Other debtors 8,752 25,146
211,351 139,051

QuoLux Limited (Registered number: 06543734)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 4,666 4,003
Taxation and social security 102,270 57,913
Other creditors 101,020 176,327
213,512 243,799

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,242 33,796

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,019 11,572

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
376 Ordinary A1 20p 75 75
94 Ordinary A2 20p 19 19
105 Ordinary B 20p 21 21
30 Ordinary C 20p 6 6
121 121

11. FINANCIAL COMMITMENTS

The total value of financial commitments, guarantees and contingencies that are not included in the balance sheet amounts to £NIL (2023: £4,908)

QuoLux Limited (Registered number: 06543734)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
J L Draper
Balance outstanding at start of year 9,684 1,012
Amounts advanced 14,116 10,994
Amounts repaid (20,847 ) (2,322 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,953 9,684

R A Draper Ramos
Balance outstanding at start of year 5,755 (219 )
Amounts advanced - 7,974
Amounts repaid (5,755 ) (2,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,755

The above overdrawn loan account is included within other debtors. Interest has been charged at 2.25% per annum where the loan account was more than £10,000 overdrawn.

Separately to the above, an amount of £75,583 (2023: £155,134) was owed to the directors of the company. Interest is being accrued at 10% per annum and there is no fixed date for repayment of the loans.