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Registration number: 11307213

Quantus Information Services Limited

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 April 2024

 

Quantus Information Services Limited

(Registration number: 11307213)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

308,107

315,180

Current assets

 

Stocks

5

2,998

3,244

Debtors

6

34,930

66,155

Cash at bank and in hand

 

36,494

16,892

 

74,422

86,291

Creditors: Amounts falling due within one year

7

(97,205)

(86,400)

Net current liabilities

 

(22,783)

(109)

Total assets less current liabilities

 

285,324

315,071

Creditors: Amounts falling due after more than one year

7

(202,159)

(225,213)

Provisions for liabilities

(5,333)

(6,617)

Net assets

 

77,832

83,241

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

77,632

83,041

Shareholders' funds

 

77,832

83,241

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

 

Quantus Information Services Limited

(Registration number: 11307213)
Statement of Financial Position as at 30 April 2024

.........................................

R J Davis
Director

 

Quantus Information Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Quantus Information Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% reducing balance

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Freehold buildings

2% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Trade creditors

Short term creditors are measured at the transaction price.

 

Quantus Information Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and loans from related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Quantus Information Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 May 2023

294,832

20,372

17,938

5,778

Additions

-

-

2,500

979

At 30 April 2024

294,832

20,372

20,438

6,757

Depreciation

At 1 May 2023

6,120

6,546

8,464

2,610

Charge for the year

3,060

3,458

2,995

1,039

At 30 April 2024

9,180

10,004

11,459

3,649

Carrying amount

At 30 April 2024

285,652

10,368

8,979

3,108

At 30 April 2023

288,712

13,826

9,474

3,168

Total
£

Cost or valuation

At 1 May 2023

338,920

Additions

3,479

At 30 April 2024

342,399

Depreciation

At 1 May 2023

23,740

Charge for the year

10,552

At 30 April 2024

34,292

Carrying amount

At 30 April 2024

308,107

At 30 April 2023

315,180

5

Stocks

2024
£

2023
£

Other inventories

2,998

3,244

 

Quantus Information Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Debtors

2024
£

2023
£

Trade debtors

32,517

60,964

Other debtors

2,049

3,736

Prepayments

364

1,455

34,930

66,155

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

8

6,931

6,605

Trade creditors

 

37,116

35,448

Taxation and social security

 

29,385

24,638

Accruals and deferred income

 

3,611

3,511

Other creditors

 

20,162

16,198

 

97,205

86,400

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

188,319

195,250

Other non-current financial liabilities

 

13,840

29,963

 

202,159

225,213


Creditors include a bank loan of £195,250 (2023 - £201,855) which is secured by way of a first legal mortgage against the company's freehold property.


Creditors include a bank loan repayable by instalments of £156,997 (2023 - £165,403) due after more than five years.

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

188,319

195,250

2024
£

2023
£

Current loans and borrowings

Bank borrowings

6,931

6,605