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REGISTERED NUMBER: SC584601 (Scotland)










Unaudited Financial Statements

for the Year Ended

31 January 2024

for

QUANTUM CONTRACT SOLUTIONS LIMITED

QUANTUM CONTRACT SOLUTIONS LIMITED (REGISTERED NUMBER: SC584601)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUANTUM CONTRACT SOLUTIONS LIMITED

Company Information
for the Year Ended 31 January 2024







DIRECTOR: J P Bradley





REGISTERED OFFICE: Unit 28 Grovewood Business Centre Wren C
Strathclyde Business Park
Bellshill
ML4 3NQ





REGISTERED NUMBER: SC584601 (Scotland)





ACCOUNTANTS: WDM Associates
Oakfield House
378 Brandon Street
Motherwell
ML1 1XA

QUANTUM CONTRACT SOLUTIONS LIMITED (REGISTERED NUMBER: SC584601)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 10,204 30,274

CURRENT ASSETS
Stocks 5 75,055 125,491
Debtors 6 237,183 95,048
Cash at bank and in hand 470,138 27,526
782,376 248,065
CREDITORS
Amounts falling due within one year 7 (428,267 ) (161,637 )
NET CURRENT ASSETS 354,109 86,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

364,313

116,702

CREDITORS
Amounts falling due after more than one
year

8

(19,068

)

(44,096

)

PROVISIONS FOR LIABILITIES (2,169 ) (5,472 )
NET ASSETS 343,076 67,134

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 342,976 67,034
343,076 67,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

QUANTUM CONTRACT SOLUTIONS LIMITED (REGISTERED NUMBER: SC584601)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 July 2024 and were signed by:





J P Bradley - Director


QUANTUM CONTRACT SOLUTIONS LIMITED (REGISTERED NUMBER: SC584601)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Quantum Contract Solutions Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Basic financial instruments
Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

QUANTUM CONTRACT SOLUTIONS LIMITED (REGISTERED NUMBER: SC584601)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2023 4,213 36,000 40,213
Additions - 9,500 9,500
Disposals - (36,000 ) (36,000 )
At 31 January 2024 4,213 9,500 13,713
DEPRECIATION
At 1 February 2023 2,739 7,200 9,939
Charge for year 295 475 770
Eliminated on disposal - (7,200 ) (7,200 )
At 31 January 2024 3,034 475 3,509
NET BOOK VALUE
At 31 January 2024 1,179 9,025 10,204
At 31 January 2023 1,474 28,800 30,274

5. STOCKS
2024 2023
£    £   
Work-in-progress 75,055 125,491

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 237,183 63,553
Tax - 31,495
237,183 95,048

QUANTUM CONTRACT SOLUTIONS LIMITED (REGISTERED NUMBER: SC584601)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 13,000 8,000
Hire purchase contracts - 7,250
Trade creditors 220,222 14,832
Tax 98,569 -
Social security and other taxes (25,123 ) 50,313
VAT 84,751 74,761
Directors' current accounts 33,668 3,301
Accrued expenses 3,180 3,180
428,267 161,637

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 19,068 28,992
Hire purchase contracts - 15,104
19,068 44,096