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REGISTERED NUMBER: SC233938 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Quantics Consulting Limited

Quantics Consulting Limited (Registered number: SC233938)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quantics Consulting Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Dr Ian Yellowlees
Mr Philip Speakman
Dr Matthew Aaron Stephenson
Ms Kimberly Marie Radtke





SECRETARY: Dr Ian Yellowlees





REGISTERED OFFICE: Exchange Tower
Fourth Floor
19 Canning Street
Edinburgh
EH3 8EG





REGISTERED NUMBER: SC233938 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Quantics Consulting Limited (Registered number: SC233938)

Balance Sheet
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 131,489 232,222
Property, plant and equipment 5 32,234 38,911
163,723 271,133

CURRENT ASSETS
Inventories 43,275 88,107
Debtors 6 546,182 494,396
Cash at bank and in hand 212,936 502,483
802,393 1,084,986
CREDITORS
Amounts falling due within one year 7 250,115 433,870
NET CURRENT ASSETS 552,278 651,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

716,001

922,249

PROVISIONS FOR LIABILITIES 8,500 9,500
NET ASSETS 707,501 912,749

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 707,401 912,649
SHAREHOLDERS' FUNDS 707,501 912,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Quantics Consulting Limited (Registered number: SC233938)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:




Dr Ian Yellowlees - Director



Mr Philip Speakman - Director


Quantics Consulting Limited (Registered number: SC233938)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Quantics Consulting Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Research and development
Research and development expenditure incurred on clearly defined projects whose outcome can be assessed with reasonable certainty is capitalised, otherwise the expenditure is written off in the year in which it is incurred.
Expenditure on the Computer Software Development project has been capitalised and the amortisation, which commenced during the year with the commercial production of the software, is calculated to write off the cost of the asset, less its estimated residual value, over the useful economic life of that asset at 20% straight line.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Quantics Consulting Limited (Registered number: SC233938)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Deferred government grants
Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023
and 31 July 2024 1,536,112
AMORTISATION
At 1 August 2023 1,303,890
Charge for year 100,733
At 31 July 2024 1,404,623
NET BOOK VALUE
At 31 July 2024 131,489
At 31 July 2023 232,222

Quantics Consulting Limited (Registered number: SC233938)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 August 2023 149,928
Additions 4,962
Disposals (46,098 )
At 31 July 2024 108,792
DEPRECIATION
At 1 August 2023 111,017
Charge for year 10,470
Eliminated on disposal (44,929 )
At 31 July 2024 76,558
NET BOOK VALUE
At 31 July 2024 32,234
At 31 July 2023 38,911

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 506,512 444,740
Other debtors 39,670 49,656
546,182 494,396

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade creditors 24,806 38,703
Taxation and social security 203,285 204,184
Other creditors 22,024 190,983
250,115 433,870

8. SECURED DEBTS

Ann and Ian Yellowlees hold a floating charge covering all the property or undertaking of the company.

Quantics Consulting Limited (Registered number: SC233938)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

9. OTHER FINANCIAL COMMITMENTS

On the 30 July 2021 the shares of the company were sold to an Employee Ownership Trust (EOT). The deferred consideration for the purchase of the shares is being paid over 12 instalments, with interest accruing on the outstanding balance at an annual rate of 3% above the base rate. The deferred payments are due as follows:

31/07/2431/07/23
Due < 1 yearDue > 1 yearDue < 1 yearDue > 1 year
££££
Deferred consideration750,0001,700,000700,0002,450,000