REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Quadrotech Solutions Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Quadrotech Solutions Ltd |
Quadrotech Solutions Ltd (Registered number: 08746090) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Quadrotech Solutions Ltd |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditor |
Chartered Accountants |
Woodlands Grange |
Woodlands Lane |
Bradley Stoke |
Bristol |
BS32 4JY |
Quadrotech Solutions Ltd (Registered number: 08746090) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Quadrotech Solutions Ltd (Registered number: 08746090) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Quadrotech Solutions Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors intend to cease the companies trade within twelve months of the signing of these financial statements, and as a result do not consider the company to be a going concern. |
The company's activities have continued with the support of the group, which have allowed the company to cease its activities and settle its debts without entering administration. |
As a result, the following basis of preparation has been used. |
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 a basis other than that of a going concern, with all assets based on historic cost, less accumulated depreciation and accumulated impairment. Where this carrying value is considered to be greater than the asset's expected, recoverable fair value, further provision is made. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Amounts owed by group undertakings |
Quadrotech Solutions Ltd (Registered number: 08746090) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Amounts owed to group undertakings |
Tax |
6. | SECURED DEBTS |
Bank facilities, although not presently utilised, are secured by a debenture over all book debts and a floating charge on all other assets of the company. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 15,000 | 15,000 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
We draw attention to Note 2 to the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. |
Our opinion is not modified in respect of this matter. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
10. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
11. | ULTIMATE CONTROLLING PARTY |
Quadrotech Solutions Ltd's ultimate parent at the balance sheet date is Odyssey Intermediate Investment Holdings LLC. |
Quest Identity Intermediate Limited, a company incorporated in the Cayman Islands, is the head of the group for which the smallest and largest consolidated accounts are prepared, within which Quadrotech Solutions Ltd is a member. |
Group financial statements can be obtained from Clearlake Capital Group LP, 233 Wilshire Blvd, Suite 800, Santa Monica CA. |