QUANTUM LIGHT MANAGEMENT LTD 13878761 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of fund management activities. Digita Accounts Production Advanced 6.30.9574.0 true true 13878761 2023-01-01 2023-12-31 13878761 2023-12-31 13878761 bus:OrdinaryShareClass1 2023-12-31 13878761 core:CurrentFinancialInstruments 2023-12-31 13878761 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13878761 core:FurnitureFittings 2023-12-31 13878761 core:OfficeEquipment 2023-12-31 13878761 bus:SmallEntities 2023-01-01 2023-12-31 13878761 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13878761 bus:FilletedAccounts 2023-01-01 2023-12-31 13878761 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13878761 bus:RegisteredOffice 2023-01-01 2023-12-31 13878761 bus:CompanySecretary1 2023-01-01 2023-12-31 13878761 bus:Director1 2023-01-01 2023-12-31 13878761 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13878761 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13878761 core:FurnitureFittings 2023-01-01 2023-12-31 13878761 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 13878761 core:OfficeEquipment 2023-01-01 2023-12-31 13878761 core:PlantMachinery 2023-01-01 2023-12-31 13878761 countries:UnitedKingdom 2023-01-01 2023-12-31 13878761 2022-12-31 13878761 core:FurnitureFittings 2022-12-31 13878761 core:OfficeEquipment 2022-12-31 13878761 2022-01-28 2022-12-31 13878761 2022-12-31 13878761 bus:OrdinaryShareClass1 2022-12-31 13878761 core:CurrentFinancialInstruments 2022-12-31 13878761 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13878761 core:FurnitureFittings 2022-12-31 13878761 core:OfficeEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13878761

QUANTUM LIGHT MANAGEMENT LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

QUANTUM LIGHT MANAGEMENT LTD

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

QUANTUM LIGHT MANAGEMENT LTD

Company Information

Director

Mr I Kondrashow

Company secretary

Laggan Secretaries Limited

Registered office

5th Floor, North Side 7/10 Chandos Street
Cavendish Square
London
London
W1G 9DQ

 

QUANTUM LIGHT MANAGEMENT LTD

(Registration number: 13878761)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

29,239

27,433

Current assets

 

Debtors

5

1,071,771

93,541

Cash at bank and in hand

 

177,923

423,251

 

1,249,694

516,792

Creditors: Amounts falling due within one year

6

(205,825)

(145,727)

Net current assets

 

1,043,869

371,065

Net assets

 

1,073,108

398,498

Capital and reserves

 

Called up share capital

7

3,650,100

1,350,100

Retained earnings

(2,576,992)

(951,602)

Shareholders' funds

 

1,073,108

398,498

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 September 2024
 

.........................................
Mr I Kondrashow
Director

 

QUANTUM LIGHT MANAGEMENT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
5th Floor, North Side 7/10 Chandos Street
Cavendish Square
London
London
W1G 9DQ
United Kingdom

These financial statements were authorised for issue by the director on 19 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

QUANTUM LIGHT MANAGEMENT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

The presentation currency of the company is GBP, which is also the functional currency, determined based on the primary economic environment in which the entity operates.
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Taxation

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also recognised
directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at historical cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimate useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

over 5 years straight line

Office equipment

over 4 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

QUANTUM LIGHT MANAGEMENT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2022 - 4).

 

QUANTUM LIGHT MANAGEMENT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

704

29,054

29,758

Additions

-

11,586

11,586

At 31 December 2023

704

40,640

41,344

Depreciation

At 1 January 2023

37

2,288

2,325

Charge for the year

141

9,639

9,780

At 31 December 2023

178

11,927

12,105

Carrying amount

At 31 December 2023

526

28,713

29,239

At 31 December 2022

667

26,766

27,433

5

Debtors

Current

2023
£

2022
£

Trade debtors

12,299

2,311

Prepayments

75,757

67,145

Other debtors

983,715

24,085

 

1,071,771

93,541

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

53,337

65,676

Taxation and social security

52,378

23,832

Accruals and deferred income

18,602

55,193

Other creditors

81,508

1,026

205,825

145,727

 

QUANTUM LIGHT MANAGEMENT LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100