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REGISTERED NUMBER: SC554240 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

JPG Quantum Limited

JPG Quantum Limited (Registered number: SC554240)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

JPG Quantum Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: J Gallagher





REGISTERED OFFICE: 4 Mount Vernon Avenue
Coatbridge
ML5 1NR





REGISTERED NUMBER: SC554240 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

JPG Quantum Limited (Registered number: SC554240)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 892 861

CURRENT ASSETS
Debtors 6 36,998 24,233
Cash at bank 6,659 14,795
43,657 39,028
CREDITORS
Amounts falling due within one year 7 36,085 26,729
NET CURRENT ASSETS 7,572 12,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,464

13,160

CREDITORS
Amounts falling due after more than one year 8 (7,642 ) (12,361 )

PROVISIONS FOR LIABILITIES (297 ) (164 )
NET ASSETS 525 635

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 425 535
SHAREHOLDERS' FUNDS 525 635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JPG Quantum Limited (Registered number: SC554240)

Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2024 and were signed by:





J Gallagher - Director


JPG Quantum Limited (Registered number: SC554240)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

JPG Quantum Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from quantity surveying services supplied by the company.

Turnover is measured at the fair value of quantity surveying services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


JPG Quantum Limited (Registered number: SC554240)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 1,556
Additions 665
Disposals (1,024 )
At 31 January 2024 1,197
DEPRECIATION
At 1 February 2023 695
Charge for year 271
Eliminated on disposal (661 )
At 31 January 2024 305
NET BOOK VALUE
At 31 January 2024 892
At 31 January 2023 861

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,668 12,766
Other debtors 24,330 11,467
36,998 24,233

JPG Quantum Limited (Registered number: SC554240)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,625 4,509
Taxation and social security 29,620 20,660
Other creditors 1,840 1,560
36,085 26,729

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,642 12,361

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 12,267 16,870

The bank loan is supported by a 100% guarantee from the UK Government.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
J Gallagher
Balance outstanding at start of year 11,467 1,901
Amounts advanced 6,724 9,566
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,191 11,467

There are no fixed repayment terms and no interest charged.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
JPG Quantum Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JPG Quantum Limited for the year ended 31 January 2024 which comprise the Profit & Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of JPG Quantum Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JPG Quantum Limited and state those matters that we have agreed to state to the director of JPG Quantum Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that JPG Quantum Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JPG Quantum Limited. You consider that JPG Quantum Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JPG Quantum Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


15 October 2024