Quanser UK Limited 15041305 false 2023-08-01 2024-11-30 2024-11-30 The principal activity of the company is design and manufacture of real time control systems. Digita Accounts Production Advanced 6.30.9574.0 true true true 15041305 2023-08-01 2024-11-30 15041305 2024-11-30 15041305 core:CurrentFinancialInstruments 2024-11-30 15041305 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 15041305 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 15041305 core:WithinOneYear 2024-11-30 15041305 core:FurnitureFittingsToolsEquipment 2024-11-30 15041305 core:MotorVehicles 2024-11-30 15041305 bus:SmallEntities 2023-08-01 2024-11-30 15041305 bus:Audited 2023-08-01 2024-11-30 15041305 bus:FilletedAccounts 2023-08-01 2024-11-30 15041305 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-11-30 15041305 bus:RegisteredOffice 2023-08-01 2024-11-30 15041305 bus:Director1 2023-08-01 2024-11-30 15041305 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-11-30 15041305 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-11-30 15041305 core:MotorVehicles 2023-08-01 2024-11-30 15041305 core:OfficeEquipment 2023-08-01 2024-11-30 15041305 core:Vehicles 2023-08-01 2024-11-30 15041305 1 2023-08-01 2024-11-30 15041305 countries:England 2023-08-01 2024-11-30 iso4217:GBP xbrli:pure

Registration number: 15041305

Quanser UK Limited

Filleted Financial Statements

for the Period from 1 August 2023 to 30 November 2024

 

Quanser UK Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Quanser UK Limited

(Registration number: 15041305)
Balance Sheet as at 30 November 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

52,916

Current assets

 

Debtors

5

46,046

Cash at bank and in hand

 

53,099

 

99,145

Creditors: Amounts falling due within one year

6

(376,117)

Net current liabilities

 

(276,972)

Total assets less current liabilities

 

(224,056)

Creditors: Amounts falling due after more than one year

6

(28,980)

Net liabilities

 

(253,036)

Capital and reserves

 

Called up share capital

100

Retained earnings

(253,136)

Shareholders' deficit

 

(253,036)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2025 and signed on its behalf by:
 

.........................................
Mr P Gilbert
Director

   
     
 

Quanser UK Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 30 November 2024

1

General information

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

The address of its registered office is:
100 Avebury Boulevard
Milton Keynes
MK9 1FH

These financial statements were authorised for issue by the Board on 19 February 2025.

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.

 

Quanser UK Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 30 November 2024

Going concern

The companies has net liabilities and net current liabilities at the balance sheet date, and is supported by working capital provided by it's parent. The parent undertaking has provided a letter of support in respect of the company. The directors are not aware of any reason why this support would be withdrawn, therefore the financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 20 February 2025 was Suzanne Lomax FCA, who signed for and on behalf of Beever and Struthers.

Judgements and key sources of estimation

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both the current and future periods. In the opinion of the directors there are no critical accounting judgements that require further disclosure.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax.

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, for continuing services revenue is recognised as the service is delievered

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

 

Quanser UK Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 30 November 2024

Tangible assets

Tangible assets are stated in the balance sheet 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, less the estimated residual value over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

30% reducing balance

Motor vehicles

30% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

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.

 

Quanser UK Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 30 November 2024

Leases

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Quanser UK Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 30 November 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

7,826

54,080

61,906

At 30 November 2024

7,826

54,080

61,906

Depreciation

Charge for the period

1,485

7,505

8,990

At 30 November 2024

1,485

7,505

8,990

Carrying amount

At 30 November 2024

6,341

46,575

52,916

5

Debtors

Current

2024
£

Prepayments

44,861

Other debtors

1,185

 

46,046

 

Quanser UK Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

5,326

Amounts owed to group undertakings and undertakings in which the company has a participating interest

349,636

Accruals and deferred income

 

20,062

Other creditors

 

1,093

 

376,117


Creditors include net obligations under hire purchase contracts which are secured of £5,326.
The liability is secured on the asset to which it relates.

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

28,980


Creditors include net obligations under hire purchase contracts which are secured of £28,980.
The liability is secured on the asset to which it relates.

7

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

Not later than one year

2,610

The amount of non-cancellable operating lease payments recognised as an expense during the period was £20,810 .

8

Parent and ultimate parent undertaking

The company's immediate parent is Quanser Consulting Inc, incorporated in Canada.