Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activity2023-07-01false45falsetrue 12717887 2023-07-01 2024-06-30 12717887 2022-07-01 2023-06-30 12717887 2024-06-30 12717887 2023-06-30 12717887 c:Director2 2023-07-01 2024-06-30 12717887 d:ComputerEquipment 2023-07-01 2024-06-30 12717887 d:ComputerEquipment 2024-06-30 12717887 d:ComputerEquipment 2023-06-30 12717887 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 12717887 d:CurrentFinancialInstruments 2024-06-30 12717887 d:CurrentFinancialInstruments 2023-06-30 12717887 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 12717887 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12717887 d:ShareCapital 2024-06-30 12717887 d:ShareCapital 2023-06-30 12717887 d:OtherMiscellaneousReserve 2024-06-30 12717887 d:OtherMiscellaneousReserve 2023-06-30 12717887 d:RetainedEarningsAccumulatedLosses 2024-06-30 12717887 d:RetainedEarningsAccumulatedLosses 2023-06-30 12717887 c:FRS102 2023-07-01 2024-06-30 12717887 c:Audited 2023-07-01 2024-06-30 12717887 c:FullAccounts 2023-07-01 2024-06-30 12717887 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12717887 d:WithinOneYear 2024-06-30 12717887 d:WithinOneYear 2023-06-30 12717887 d:BetweenOneFiveYears 2024-06-30 12717887 d:BetweenOneFiveYears 2023-06-30 12717887 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12717887 2 2023-07-01 2024-06-30 12717887 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure


















QBiotics UK Limited
























Financial statements



For the year ended 30 June 2024



Registered number: 12717887

 
QBiotics UK Limited - Registered number: 12717887

Statement of financial position
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,688
3,900

  
3,688
3,900

Current assets
  

Debtors
 5 
12,501
10,967

Cash at bank and in hand
  
5,049
18,820

  
17,550
29,787

Creditors: amounts falling due within one year
 6 
(1,412,976)
(711,677)

Net current liabilities
  
 
 
(1,395,426)
 
 
(681,890)

Total assets less current liabilities
  
(1,391,738)
(677,990)

  

Net liabilities
  
(1,391,738)
(677,990)


Capital and reserves
  

Called up share capital 
  
1
1

Share based payments reserve
  
18,993
9,331

Profit and loss account
  
(1,410,732)
(687,322)

  
(1,391,738)
(677,990)


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: 




Dr V A Gordon
Director
Date: 11 February 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
QBiotics UK Limited

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

QBiotics UK Limited is a private company limited by shares and incorporated in England and Wales. The registered office is Capital Tower 3rd Floor, Greyfriars Road, Cardiff, Wales, CF10 3AG. The registered number is 12717887.

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 Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Going concern

As at 30 June 2024 the company has made losses of £723,410 (2023: £467,235) and had net current liabilities of £1,395,426 (2023: £681,890). The directors have received confirmation from QBiotics Group Limited, the ultimate parent company, that it will not demand repayment of the amounts due from the company and provide financial support for a period of at least twelve months from the date of approval of these financial statements. The directors have no reason to believe that this support will not be forthcoming. Accordingly the financial statements have been prepared on a going concern basis. 

Page 2

 
QBiotics UK Limited

Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.4

Turnover

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 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Current and deferred 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 reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
QBiotics UK Limited

Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.7

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:

Computer equipment
-
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.

 
2.8

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.9

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.

 
2.10

Debtors

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

Page 4

 
QBiotics UK Limited

Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. 

 
2.12

Financial instruments

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


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 5).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 July 2023
4,389


Additions
1,803



At 30 June 2024

6,192



Depreciation


At 1 July 2023
489


Charge for the year
2,015



At 30 June 2024

2,504



Net book value



At 30 June 2024
3,688



At 30 June 2023
3,900

Page 5

 
QBiotics UK Limited

 
Notes to the financial statements
For the year ended 30 June 2024

5.


Debtors

2024
2023
£
£


Other debtors
6,650
6,651

Prepayments and accrued income
2,062
1,588

Tax recoverable
3,789
2,728

12,501
10,967



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
108
886

Amounts owed to group undertakings
1,380,259
678,046

Accruals
32,609
32,745

1,412,976
711,677


Amounts due to group undertakings are interest free, unsecured and repayable on demand.


7.


Contingent liabilities

The company had no contingent liabilities at 30 June 2024 or 30 June 2023.


8.


Capital commitments

The company had no capital commitments at 30 June 2024 or 30 June 2023.


9.


Commitments under operating leases

At 30 June 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
35,750
42,900

Later than 1 year and not later than 5 years
-
35,750

35,750
78,650

Page 6

 
QBiotics UK Limited

 
Notes to the financial statements
For the year ended 30 June 2024

10.


Inclusion in consolidated financial statements

The smallest group undertakings for which the financial statements are prepared, which include the company, is QBiotics Group Limited. Its registered office is Suite 3A, Level 1, 165 Moggill Road, Taringa, QLD, 4069, Australia. 


11.


Auditor's information

The auditor's report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 14 February 2025 by Philip Westerman (Senior statutory auditor) on behalf of Buzzacott LLP.

Page 7