Company Registration No. 09701392 (England and Wales)
Quantum Traffic Management Limited
Unaudited accounts
for the year ended 31 December 2023
Quantum Traffic Management Limited
Unaudited accounts
Contents
Quantum Traffic Management Limited
Company Information
for the year ended 31 December 2023
Directors
Martin Stratton
Scott Powell
Scott Clarke
Shaun Clarke
Company Number
09701392 (England and Wales)
Registered Office
QUANTUM TRAFFIC MANAGEMENT UNIT 4F
FELNEX INDUSTRIAL ESTATE
NEWPORT
NP19 4PQ
WALES
Accountants
MC Accountancy Limited
4 Catterick Road
Bicester
Oxfordshire
OX26 1AW
Quantum Traffic Management Limited
Accountants' report
Accountants' report to the board of directors of Quantum Traffic Management Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 December 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 December 2023. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
MC Accountancy Limited
4 Catterick Road
Bicester
Oxfordshire
OX26 1AW
20 September 2024
Quantum Traffic Management Limited
Statement of financial position
as at 31 December 2023
Tangible assets
1,985,851
1,554,256
Debtors
1,817,687
1,337,365
Cash at bank and in hand
1,841,283
1,731,020
Creditors: amounts falling due within one year
(1,291,015)
(1,116,978)
Net current assets
2,367,955
1,951,407
Total assets less current liabilities
4,353,806
3,505,663
Creditors: amounts falling due after more than one year
-
(89,610)
Provisions for liabilities
Deferred tax
(412,387)
(292,113)
Net assets
3,941,419
3,123,940
Called up share capital
1,000
1,000
Profit and loss account
3,940,419
3,122,940
Shareholders' funds
3,941,419
3,123,940
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by
Scott Powell
Director
Company Registration No. 09701392
Quantum Traffic Management Limited
Notes to the Accounts
for the year ended 31 December 2023
Quantum Traffic Management Limited is a private company, limited by shares, registered in England and Wales, registration number 09701392. The registered office is QUANTUM TRAFFIC MANAGEMENT UNIT 4F, FELNEX INDUSTRIAL ESTATE, NEWPORT, NP19 4PQ, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Computer equipment
20% Reducing Balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Quantum Traffic Management Limited
Notes to the Accounts
for the year ended 31 December 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
530,848
1,780,278
3,171
107,505
2,421,802
Additions
85,668
692,724
285
19,705
798,382
Disposals
-
(16,729)
-
-
(16,729)
At 31 December 2023
616,516
2,456,273
3,456
127,210
3,203,455
At 1 January 2023
145,767
685,014
1,808
34,957
867,546
Charge for the year
87,768
259,733
291
16,127
363,919
On disposals
-
(13,861)
-
-
(13,861)
At 31 December 2023
233,535
930,886
2,099
51,084
1,217,604
At 31 December 2023
382,981
1,525,387
1,357
76,126
1,985,851
At 31 December 2022
385,081
1,095,264
1,363
72,548
1,554,256
Amounts falling due within one year
Trade debtors
1,739,042
1,307,376
Accrued income and prepayments
5,654
-
Other debtors
35,000
14,052
Quantum Traffic Management Limited
Notes to the Accounts
for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
691,099
394,842
Amounts owed to group undertakings and other participating interests
19,780
-
Taxes and social security
450,241
315,136
Other creditors
93,276
395,721
Loans from directors
13,272
3,137
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Average number of employees
During the year the average number of employees was 100 (2022: 100).