Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3162023-01-01falseInformation technology consultancy activities5truetrue 08804061 2023-01-01 2023-12-31 08804061 2022-01-01 2022-12-31 08804061 2023-12-31 08804061 2022-12-31 08804061 c:Director1 2023-01-01 2023-12-31 08804061 d:PlantMachinery 2023-01-01 2023-12-31 08804061 d:PlantMachinery 2023-12-31 08804061 d:PlantMachinery 2022-12-31 08804061 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08804061 d:FurnitureFittings 2023-01-01 2023-12-31 08804061 d:FurnitureFittings 2023-12-31 08804061 d:FurnitureFittings 2022-12-31 08804061 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08804061 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08804061 d:CurrentFinancialInstruments 2023-12-31 08804061 d:CurrentFinancialInstruments 2022-12-31 08804061 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08804061 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08804061 d:ShareCapital 2023-12-31 08804061 d:ShareCapital 2022-12-31 08804061 d:RetainedEarningsAccumulatedLosses 2023-12-31 08804061 d:RetainedEarningsAccumulatedLosses 2022-12-31 08804061 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 08804061 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08804061 c:FRS102 2023-01-01 2023-12-31 08804061 c:Audited 2023-01-01 2023-12-31 08804061 c:FullAccounts 2023-01-01 2023-12-31 08804061 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08804061 d:WithinOneYear 2023-12-31 08804061 d:WithinOneYear 2022-12-31 08804061 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 08804061







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


QUANTITATIVE BROKERS UK LIMITED






































                        

 


QUANTITATIVE BROKERS UK LIMITED
REGISTERED NUMBER:08804061



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,358
5,580

  
6,358
5,580

Current assets
  

Debtors: amounts falling due within one year
 5 
1,026,497
1,014,367

Cash at bank and in hand
 6 
65,858
38,810

  
1,092,355
1,053,177

Creditors: amounts falling due within one year
 7 
(238,172)
(291,980)

Net current assets
  
 
 
854,183
 
 
761,197

Total assets less current liabilities
  
860,541
766,777

Provisions for liabilities
  

Deferred tax
  
(1,589)
(1,060)

  
 
 
(1,589)
 
 
(1,060)

Net assets
  
858,952
765,717


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
858,950
765,715

  
858,952
765,717


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 income and retained earnings 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: 




A C Davison
Director

Date: 28 August 2024

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

Page 1

 


QUANTITATIVE BROKERS UK LIMITED
 


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

1.


General information

Quantitative Brokers UK Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office can be found in the Company Information page.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, the validity of which is based on the continued support of the parent company for not less than 12 months from the approval of these accounts.

  
2.3

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover relates to expenses recharged, in arrears at the end of each month, to the parent company at a cost plus 10%. 

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 


QUANTITATIVE BROKERS UK LIMITED
 


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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
3-5 years
Fixtures and fittings
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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.

Page 3

 


QUANTITATIVE BROKERS UK LIMITED
 


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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 6).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
31,831
944
32,775


Additions
3,963
-
3,963



At 31 December 2023

35,794
944
36,738



Depreciation


At 1 January 2023
27,195
-
27,195


Charge for the year on owned assets
3,185
-
3,185



At 31 December 2023

30,380
-
30,380



Net book value



At 31 December 2023
5,414
944
6,358



At 31 December 2022
4,636
944
5,580


5.


Debtors

As restated
2023
2022
£
£


Amounts owed by group undertakings
978,948
832,757
Page 4

 


QUANTITATIVE BROKERS UK LIMITED
 


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

5.Debtors (continued)


Other debtors
28,826
42,215

Prepayments and accrued income
18,723
139,395

1,026,497
1,014,367



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
65,858
38,810

65,858
38,810



7.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
11,093
9,268

Corporation tax
14,894
13,954

Other taxation and social security
47,983
49,537

Other creditors
899
1,027

Accruals and deferred income
163,303
218,194

238,172
291,980



8.


Deferred taxation




2023


£






At beginning of year
(1,060)


Charged to profit or loss
(529)



At end of year
(1,589)

Page 5

 


QUANTITATIVE BROKERS UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,589)
(1,060)

(1,589)
(1,060)


9.


Prior year adjustment

The comparatives have been amended to remove a lease asset and corresponding liability of £139,958 which was accounted for as a finance lease but meets the definition of an operating lease. There has been no impact to the retained earnings.


10.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

As restated
2023
2022
£
£


Not later than 1 year
45,040
118,596

45,040
118,596


11.


Controlling party

The Company's immediate parent undertaking is Quantitative Brokers LLC, a company registered in the USA.
The ultimate controlling party is Deutsche Boerse Systems Inc., a US company that is owned by the Deutsche Boerse AG, which is listed on the Frankfurt stock exchange in Germany.


12.


Auditors' information

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

The audit report was signed on 29 August 2024 by Sarah Hallam FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6