QUANTUM CARD SERVICES LTD

Company Registration Number:
04501775 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

QUANTUM CARD SERVICES LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

QUANTUM CARD SERVICES LTD

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 79,770 143,675
Tangible assets: 4 5,166 3,001
Investments: 5 2,205 2,205
Total fixed assets: 87,141 148,881
Current assets
Stocks: 10,000 10,000
Debtors:   579,721 720,636
Cash at bank and in hand: 309,009 45,998
Total current assets: 898,730 776,634
Creditors: amounts falling due within one year:   (354,397) (305,609)
Net current assets (liabilities): 544,333 471,025
Total assets less current liabilities: 631,474 619,906
Creditors: amounts falling due after more than one year:   (19,818) (28,886)
Total net assets (liabilities): 611,656 591,020
Capital and reserves
Called up share capital: 123,792 123,792
Share premium account: 26,420 26,420
Profit and loss account: 461,444 440,808
Shareholders funds: 611,656 591,020

The notes form part of these financial statements

QUANTUM CARD SERVICES LTD

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 October 2024
and signed on behalf of the board by:

Name: MARC A BINNINGTON
Status: Director

The notes form part of these financial statements

QUANTUM CARD SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts receivable in respect of services provided to customers net of value added tax and discounts. Revenue in respect of operational and card loading maintenance and management costs are recognised when the service has been provided. Revenue from card usage and load costs are recognised at the point of sale. Based on our historical card redemption patterns, we can reasonably estimate the amount of prepaid cards for which redemption is remote, which is referred to as "breakage." This is the unused portion of monetary funds held on customer cards where cards have expired and amounts have not been reclaimed by the customer. Historical redemption trends indicate that the likelihood of the customer redeeming the gift card becomes remote, which is generally after 3 months of the card expiration date. Unclaimed funds revert back to the company in accordance with the terms of our contracts. However, in accordance with FCA EM2 regulations, the company only recognises breakage income after the unused prepaid card funds have been held for 7 years

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property- Fixtures, fittings and equipment -25% on cost

Intangible fixed assets and amortisation policy

Development expenditure on an individual project are recognised as an intangible asset when the company can demonstrate: - The technical feasibility of completing the intangible asset so that the asset will be available for use or sale - Its intention to complete and its ability to use or sell the asset - How the asset will generate future economic benefits- The availability of resources to complete the asset - The ability to measure reliably the expenditure during development - The ability to use the intangible asset gene

QUANTUM CARD SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 9 9

QUANTUM CARD SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Intangible Assets

Total
Cost £
At 01 February 2023 615,529
At 31 January 2024 615,529
Amortisation
At 01 February 2023 471,854
Charge for year 63,905
At 31 January 2024 535,759
Net book value
At 31 January 2024 79,770
At 31 January 2023 143,675

QUANTUM CARD SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Tangible Assets

Total
Cost £
At 01 February 2023 28,918
Additions 2,652
At 31 January 2024 31,570
Depreciation
At 01 February 2023 25,917
Charge for year 487
At 31 January 2024 26,404
Net book value
At 31 January 2024 5,166
At 31 January 2023 3,001

QUANTUM CARD SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Fixed investments

At 31 January 2024 £2,205 At 31 January 2023 £2,205