Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-308false2023-05-01falseNo description of principal activity7falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07215557 2023-05-01 2024-04-30 07215557 2022-05-01 2023-04-30 07215557 2024-04-30 07215557 2023-04-30 07215557 2022-05-01 07215557 c:PriorPeriodIncreaseDecrease 2022-05-01 2023-04-30 07215557 d:Director1 2023-05-01 2024-04-30 07215557 c:PlantMachinery 2023-05-01 2024-04-30 07215557 c:PlantMachinery 2024-04-30 07215557 c:PlantMachinery 2023-04-30 07215557 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07215557 c:PatentsTrademarksLicencesConcessionsSimilar 2024-04-30 07215557 c:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 07215557 c:CurrentFinancialInstruments 2024-04-30 07215557 c:CurrentFinancialInstruments 2023-04-30 07215557 c:Non-currentFinancialInstruments 2024-04-30 07215557 c:Non-currentFinancialInstruments 2023-04-30 07215557 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-30 07215557 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 07215557 c:Non-currentFinancialInstruments c:AfterOneYear 2024-04-30 07215557 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 07215557 c:ShareCapital 2023-05-01 2024-04-30 07215557 c:ShareCapital 2024-04-30 07215557 c:ShareCapital 2022-05-01 2023-04-30 07215557 c:ShareCapital 2023-04-30 07215557 c:ShareCapital 2022-05-01 07215557 c:SharePremium 2023-05-01 2024-04-30 07215557 c:SharePremium 2024-04-30 07215557 c:SharePremium 2022-05-01 2023-04-30 07215557 c:SharePremium 2023-04-30 07215557 c:SharePremium c:PriorPeriodIncreaseDecrease 2022-05-01 2023-04-30 07215557 c:SharePremium 2022-05-01 07215557 c:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 07215557 c:RetainedEarningsAccumulatedLosses 2024-04-30 07215557 c:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 07215557 c:RetainedEarningsAccumulatedLosses 2023-04-30 07215557 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2022-05-01 2023-04-30 07215557 c:RetainedEarningsAccumulatedLosses 2022-05-01 07215557 d:FRS102 2023-05-01 2024-04-30 07215557 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07215557 d:FullAccounts 2023-05-01 2024-04-30 07215557 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07215557 2 2023-05-01 2024-04-30 07215557 6 2023-05-01 2024-04-30 07215557 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2023-05-01 2024-04-30 07215557 e:PoundSterling 2023-05-01 2024-04-30 07215557 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2022-05-01 2023-04-30 07215557 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2022-05-01 07215557 c:PreviouslyStatedAmount 2022-05-01 iso4217:GBP xbrli:pure

Registered number: 07215557









QUOTALL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
QUOTALL LTD
REGISTERED NUMBER: 07215557

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
975
1,950

Tangible assets
 5 
-
1,499

Investments
 6 
100
-

  
1,075
3,449

Current assets
  

Debtors: amounts falling due within one year
 7 
142,774
103,007

Cash at bank and in hand
 8 
6,094
29,278

  
148,868
132,285

Creditors: amounts falling due within one year
 9 
(1,640,130)
(785,340)

Net current liabilities
  
 
 
(1,491,262)
 
 
(653,055)

Total assets less current liabilities
  
(1,490,187)
(649,606)

Creditors: amounts falling due after more than one year
  
-
(531,320)

  

Net liabilities
  
(1,490,187)
(1,180,926)


Capital and reserves
  

Called up share capital 
  
1,104
1,104

Share premium account
  
4,712,144
4,712,144

Profit and loss account
  
(6,203,435)
(5,894,174)

  
(1,490,187)
(1,180,926)

Page 1

 
QUOTALL LTD
REGISTERED NUMBER: 07215557
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 comprehensive income 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: 




................................................
S D Ball
Director

Date: 31 January 2025

The notes on pages 5 to 11 form part of these financial statements.
Page 2

 
QUOTALL LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 May 2023
1,104
4,712,144
(5,894,174)
(1,180,926)


Comprehensive income for the year

Loss for the year

-
-
(309,261)
(309,261)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(309,261)
(309,261)


Total transactions with owners
-
-
-
-


At 30 April 2024
1,104
4,712,144
(6,203,435)
(1,490,187)


The notes on pages 5 to 11 form part of these financial statements.
Page 3

 
QUOTALL LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 May 2022 (as previously stated)
1,079
4,412,170
(5,600,378)
(1,187,129)

Prior year adjustment
-
-
300,000
300,000

At 1 May 2022 (as restated)
1,079
4,412,170
(5,300,378)
(887,129)


Comprehensive income for the year

Loss for the year

-
-
(593,796)
(593,796)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(593,796)
(593,796)


Contributions by and distributions to owners

Shares issued during the year
25
299,974
-
299,999


Total transactions with owners
25
299,974
-
299,999


At 30 April 2023
1,104
4,712,144
(5,894,174)
(1,180,926)


The notes on pages 5 to 11 form part of these financial statements.
Page 4

 
QUOTALL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Quotall Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has been loss making and at the balance sheet date had an excess of liabilities over assets. The company continues to rely on the support of investors and has agreed an extension to the maturity date of loan capital with its loan note holders. In these circumstances the directors consider that it continues to be appropriate to prepare these financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
QUOTALL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

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 balance sheet date in the countries where the Company operates and generates income.


Page 6

 
QUOTALL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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
-
33%

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 7

 
QUOTALL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 8).


4.


Intangible assets




Other intangible assets

£



Cost


At 1 May 2023
797,831



At 30 April 2024

797,831



Amortisation


At 1 May 2023
795,881


Charge for the year on owned assets
975



At 30 April 2024

796,856



Net book value



At 30 April 2024
975



At 30 April 2023
1,950



Page 8

 
QUOTALL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 May 2023
7,094



At 30 April 2024

7,094



Depreciation


At 1 May 2023
5,595


Charge for the year on owned assets
1,499



At 30 April 2024

7,094



Net book value



At 30 April 2024
-



At 30 April 2023
1,499

Page 9

 
QUOTALL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
100



At 30 April 2024
100





7.


Debtors

2024
2023
£
£


Trade debtors
43,884
20,295

Other debtors
1,326
5,850

Prepayments and accrued income
97,564
76,862

142,774
103,007



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
6,094
29,278

6,094
29,278


Page 10

 
QUOTALL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
236,215
209,326

Other taxation and social security
25,639
1,653

Other creditors
1,129,509
341,788

Accruals and deferred income
248,767
232,573

1,640,130
785,340


Included in other creditors due within one year are loan notes issued in 2014 with an aggregate principal value of £500,000. Pursuant to an agreement entered into in December 2024, the loan noteholders consented to defer the redemption of the loan notes to 31 December 2025, with interest accruing at a rate of 12% per annum, payable on the revised redemption date.
 
The terms of the loan note agreement provide the noteholders with an option to convert their loan notes into ordinary share capital during the period commencing on 1 January 2025 and ending on 31 March 2025.
 
The loan notes are secured by a debenture, creating fixed and floating charges over the Company’s assets and property.


10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
-
531,320

-
531,320



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £8,773 (2023 - £8,943) . Contributions totalling £2,007 (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

Included in turnover for the year is £216,667 of consulting, development and management services supplied to Clikcovr Ltd, a company owned and controlled by a director, Mr David Gladwin. Clikcovr Ltd also pre-funded the Company with £30,000 for paid media activity, and this amount is included in creditors falling due within one year. These transactions were made on an arm’s length basis.

 
Page 11