Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07351328 P E Steventon D A Cumper M R Cumper P D Churchill P D Churchill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07351328 2022-12-31 07351328 2023-12-31 07351328 2023-01-01 2023-12-31 07351328 frs-core:CurrentFinancialInstruments 2023-12-31 07351328 frs-core:ComputerEquipment 2023-12-31 07351328 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07351328 frs-core:ComputerEquipment 2022-12-31 07351328 frs-core:MotorVehicles 2023-12-31 07351328 frs-core:MotorVehicles 2023-01-01 2023-12-31 07351328 frs-core:MotorVehicles 2022-12-31 07351328 frs-core:ShareCapital 2023-12-31 07351328 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07351328 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07351328 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07351328 frs-bus:SmallEntities 2023-01-01 2023-12-31 07351328 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07351328 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07351328 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 07351328 frs-bus:OrdinaryShareClass2 2023-12-31 07351328 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 07351328 frs-bus:OrdinaryShareClass3 2023-12-31 07351328 frs-bus:PreferenceShareClass2 2023-01-01 2023-12-31 07351328 frs-bus:PreferenceShareClass2 2023-12-31 07351328 frs-bus:PreferenceShareClass3 2023-01-01 2023-12-31 07351328 frs-bus:PreferenceShareClass3 2023-12-31 07351328 frs-core:CostValuation 2022-12-31 07351328 frs-core:CostValuation 2023-12-31 07351328 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 07351328 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 07351328 frs-bus:Director1 2023-01-01 2023-12-31 07351328 frs-bus:Director2 2023-01-01 2023-12-31 07351328 frs-bus:Director3 2023-01-01 2023-12-31 07351328 frs-bus:Director3 2022-12-31 07351328 frs-bus:Director3 2023-12-31 07351328 frs-bus:Director4 2023-01-01 2023-12-31 07351328 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 07351328 frs-countries:EnglandWales 2023-01-01 2023-12-31 07351328 2021-12-31 07351328 2022-12-31 07351328 2022-01-01 2022-12-31 07351328 frs-core:CurrentFinancialInstruments 2022-12-31 07351328 frs-core:ShareCapital 2022-12-31 07351328 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07351328 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 07351328 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31 07351328 frs-bus:PreferenceShareClass2 2022-01-01 2022-12-31 07351328 frs-bus:PreferenceShareClass3 2022-01-01 2022-12-31
Registered number: 07351328
Quadrant Ventures Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07351328
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 113,647 93,788
Investments 5 102,945 102,945
216,592 196,733
CURRENT ASSETS
Debtors 6 1,347,352 1,341,622
Cash at bank and in hand 563,746 570,320
1,911,098 1,911,942
Creditors: Amounts Falling Due Within One Year 7 (105,447 ) (110,008 )
NET CURRENT ASSETS (LIABILITIES) 1,805,651 1,801,934
TOTAL ASSETS LESS CURRENT LIABILITIES 2,022,243 1,998,667
NET ASSETS 2,022,243 1,998,667
CAPITAL AND RESERVES
Called up share capital 8 2,048,240 2,048,240
Profit and Loss Account (25,997 ) (49,573 )
SHAREHOLDERS' FUNDS 2,022,243 1,998,667
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P D Churchill
Director
14 August 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Quadrant Ventures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07351328 . The registered office is 67 South Street, Epsom, KT18 7PY.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
2.2. Going Concern Disclosure
The directors have reviewed in detail the company’s financial position and the appropriate basis on which to prepare the financial statements.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and as a minimum for a period of at least 12 months from the date of approval of these financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover represents the amount derived from the provision of services rendered which fall within the company's ordinary activities, stated net of value added tax.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles straight line over 4 years
Computer Equipment straight line over 4 years
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised 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 other debtors, loans to fellow group companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
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.
...CONTINUED
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2.5. Financial Instruments - continued
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.
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 trade and other creditors, 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.
Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company’s contractual obligations are discharged, cancelled, or they expire.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. 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.
Deferred Tax
Deferred tax is recognised in respect of all material 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.
2.8. Fixed Asset Investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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2.9. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
3. Average Number of Employees
Average number of employees during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 213,016 47,488 260,504
Additions 72,441 - 72,441
Disposals (52,000 ) (5,529 ) (57,529 )
As at 31 December 2023 233,457 41,959 275,416
Depreciation
As at 1 January 2023 134,770 31,946 166,716
Provided during the period 42,771 9,811 52,582
Disposals (52,000 ) (5,529 ) (57,529 )
As at 31 December 2023 125,541 36,228 161,769
Net Book Value
As at 31 December 2023 107,916 5,731 113,647
As at 1 January 2023 78,246 15,542 93,788
5. Investments
Subsidiaries
£
Cost
As at 1 January 2023 102,945
As at 31 December 2023 102,945
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 102,945
As at 1 January 2023 102,945
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Page 6
6. Debtors
2023 2022
£ £
Due within one year
Amounts owed by group undertakings 1,169,446 1,172,957
Other debtors 177,906 168,665
1,347,352 1,341,622
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 19,675 1,638
Amounts owed to group undertakings 3,419 -
Other creditors 49,251 100,316
Taxation and social security 33,102 8,054
105,447 110,008
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
360,400 Ordinary A shares of £ 0.10 each 36,040 36,040
20,000 Ordinary B shares of £ 0.10 each 2,000 2,000
38,040 38,040
Preference Shares
2023 2022
Allotted, called up and fully paid £ £
900,200 Preference A shares of £ 1.00 each 900,200 900,200
1,110,000 Preference B shares of £ 1.00 each 1,110,000 1,110,000
2,010,200 2,010,200
9. Contingent Liabilities
The company has a cross guarantee with group companies in respect of borrowings from National Westminster Bank Plc. As at 31 December 2023 the company had no borrowings directly (2022: none) and the total group borrowings were £504,229 (2022: £359,627). The guarantee is secured with fixed and floating charge over all the property or undertaking of the company and group companies.
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr David Cumper (38,058 ) 49,439 (5,637 ) - 5,744
The overdrawn loan account balance was repaid shortly after the year end. 
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11. Related Party Transactions
At the balance sheet date, the company owed the directors £45,751 (2022: £100,258). These amounts are interest free and repayble upon demand. 
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