3 false false false false false false false false false true false false true true true true No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 285,000 285,000 1,126 188 563 751 375 938 xbrli:pure xbrli:shares iso4217:GBP 02939410 2023-01-01 2023-12-31 02939410 2023-12-31 02939410 2022-12-31 02939410 2022-01-01 2022-12-31 02939410 2022-12-31 02939410 core:NetGoodwill 2023-01-01 2023-12-31 02939410 bus:Director1 2023-01-01 2023-12-31 02939410 core:NetGoodwill 2023-12-31 02939410 core:PlantMachinery 2022-12-31 02939410 core:PlantMachinery 2023-12-31 02939410 core:WithinOneYear 2023-12-31 02939410 core:WithinOneYear 2022-12-31 02939410 core:ShareCapital 2023-12-31 02939410 core:ShareCapital 2022-12-31 02939410 core:CapitalRedemptionReserve 2023-12-31 02939410 core:CapitalRedemptionReserve 2022-12-31 02939410 core:RetainedEarningsAccumulatedLosses 2023-12-31 02939410 core:RetainedEarningsAccumulatedLosses 2022-12-31 02939410 core:PlantMachinery 2023-01-01 2023-12-31 02939410 core:PlantMachinery 2022-12-31 02939410 bus:SmallEntities 2023-01-01 2023-12-31 02939410 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02939410 bus:FullAccounts 2023-01-01 2023-12-31 02939410 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02939410 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 02939410
Quadrilect Limited
Filleted Unaudited Financial Statements
31 December 2023
Quadrilect Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
375
938
Current assets
Debtors
7
73,382
86,996
Cash at bank and in hand
314,883
226,222
---------
---------
388,265
313,218
Creditors: amounts falling due within one year
8
223,281
183,388
---------
---------
Net current assets
164,984
129,830
---------
---------
Total assets less current liabilities
165,359
130,768
---------
---------
Net assets
165,359
130,768
---------
---------
Capital and reserves
Called up share capital
3
3
Capital redemption reserve
1
1
Profit and loss account
165,355
130,764
---------
---------
Shareholder funds
165,359
130,768
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Quadrilect Limited
Balance Sheet (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 July 2024 , and are signed on behalf of the board by:
Rachel Manchester
Director
Company registration number: 02939410
Quadrilect Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Geary Partnership, Chartered accountants, 159a Chase Side, Enfield, Middlesex, EN2 0PW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, unless otherwise specified within these accounting policies. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
(c) Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
(d) Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less accumulated depreciation and impairment losses.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
IT equipment - 50% straight line
(f) Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
(g) Defined contribution plans
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 balance sheet. The assets of the plan are held separately from the company in independently administered funds.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
285,000
---------
Amortisation
At 1 January 2023 and 31 December 2023
285,000
---------
Carrying amount
At 31 December 2023
---------
At 31 December 2022
---------
6. Tangible assets
IT equipment
£
Cost
At 1 January 2023 and 31 December 2023
1,126
-------
Depreciation
At 1 January 2023
188
Charge for the year
563
-------
At 31 December 2023
751
-------
Carrying amount
At 31 December 2023
375
-------
At 31 December 2022
938
-------
7. Debtors
2023
2022
£
£
Trade debtors
64,464
64,953
Other debtors
8,918
22,043
--------
--------
73,382
86,996
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
84,576
792
Social security and other taxes
4,698
3,988
Other creditors
134,007
178,608
---------
---------
223,281
183,388
---------
---------