Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3102022-08-15truetruefalseNo description of principal activity2false 14296406 2022-08-14 14296406 2022-08-15 2023-12-31 14296406 2021-08-15 2022-08-14 14296406 2023-12-31 14296406 c:Director1 2022-08-15 2023-12-31 14296406 d:CurrentFinancialInstruments 2023-12-31 14296406 d:Non-currentFinancialInstruments 2023-12-31 14296406 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14296406 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 14296406 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 14296406 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 14296406 d:ShareCapital 2023-12-31 14296406 d:RetainedEarningsAccumulatedLosses 2023-12-31 14296406 c:OrdinaryShareClass1 2022-08-15 2023-12-31 14296406 c:FRS102 2022-08-15 2023-12-31 14296406 c:Audited 2022-08-15 2023-12-31 14296406 c:FullAccounts 2022-08-15 2023-12-31 14296406 c:PrivateLimitedCompanyLtd 2022-08-15 2023-12-31 14296406 d:Subsidiary1 2022-08-15 2023-12-31 14296406 d:Subsidiary1 1 2022-08-15 2023-12-31 14296406 c:SmallCompaniesRegimeForAccounts 2022-08-15 2023-12-31 14296406 6 2022-08-15 2023-12-31 14296406 e:USDollar 2022-08-15 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 14296406










QUADMARK HOLDINGS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
QUADMARK HOLDINGS LIMITED
REGISTERED NUMBER: 14296406

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
$

Fixed assets
  

Investments
 4 
8,019,287

  
8,019,287

Current assets
  

Debtors: amounts falling due within one year
 5 
150,000

Cash at bank and in hand
 6 
1

  
150,001

Creditors: amounts falling due within one year
 7 
(370,185)

Net current (liabilities)/assets
  
 
 
(220,184)

Total assets less current liabilities
  
7,799,103

Creditors: amounts falling due after more than one year
 8 
(5,708,903)

  

Net assets
  
2,090,200


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
2,090,199

  
2,090,200


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 comprehensive income 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: 


H Earl-Wright
Director
Date: 13 September 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Quadmark Holdingd Limited (registered number: 14296406) is a private company, limited by shares and registered in England and Wales under the Companies Act. The company was incorporated on the 14 August 2022. The address of the registered office is 10 Orange Street, Haymarket, London, WCH 7DQ.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The Directors are satisfied that the group has adequate resources to continue operations for the foreseeable future. Based on a review of the forecasts and plans the Directors' believe that the financial statements have been appropriately prepared on a going concern basis.

 
2.4

Foreign currency translation

The Company's functional currency is GBP. Quadmark Pte's functional currency is Singapore Dollar, whilst Quadmark China is in Yuan. Quadmark Limited has a functional currency of GBP. This differs from the presentational currency which is USD. The reason for the difference is that most of the transactions at the Holdings level are completed in USD. Management believe therefore, that the presentational currency is more representative of the day-to-day transactions.
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.
On consolidation, the results of overseas operations are translated into Dollars at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 2

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

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
Page 3

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Fixed asset investments





Investments in subsidiary companies

$



Cost or valuation


Additions
8,019,287



At 31 December 2023
8,019,287





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Quadmark Pte Limited
1 Wallich St, Tower 14-01 Guoco, Singapore 07888
Ordinary
100%


5.


Debtors

2023
$


Amounts owed by group undertakings
150,000

150,000


Page 4

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
$

Cash at bank and in hand
1

1



7.


Creditors: Amounts falling due within one year

2023
$

Deferred consideration
346,918

Other creditors
23,267

370,185



8.


Creditors: Amounts falling due after more than one year

2023
$

Deferred consideration
4,253,903

Amounts owed to group undertakings
1,455,000

5,708,903



9.


Deferred consideration


2023
$

Amounts falling due within one year

Deferred consideration
346,918

Amounts falling due 1-2 years

Deferred consideration
2,972,439

Amounts falling due 2-5 years

Deferred consideration
1,281,464


4,600,821


Page 5

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Share capital

2023
$
Allotted, called up and fully paid


1  shares of $1.00 each
1


During the period, the Company issued 1 share of £1 at par.


11.


Related party transactions

At the year end, Quadmark Holdings Limited had a loan balance payable to Quadmark Limited, an indirect subsidiary, of $1,455,000. Quadmark Holdings Limited was owed $150,000 from Quadmark Pte Limited, a direct subsidiary. 


12.


Controlling party

As at 31 December 2023 the company is controlled by H Earl-Wright by virtue of her majority shareholding.


13.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 13 September 2024 by Darren O'Connor BSc (Hons) FCCA ACA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.

Page 6