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Registration number: 05116104

QM Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

image-name
 

QM Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

QM Limited

Company Information

Directors

C L Dillner

A M Lindholm

Registered office

Midsummer Court
Midsummer Boulevard
Milton Keynes
Buckinghamshire
MK9 2UB

Accountants

Michael J Emery & Co Limited
Chartered Accountants22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

QM Limited

(Registration number: 05116104)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

813,049

813,049

Creditors: Amounts falling due within one year

5

(736,916)

(736,916)

Net assets

 

76,133

76,133

Capital and reserves

 

Called up share capital

723,690

723,690

Share premium reserve

269,533

269,533

Capital redemption reserve

27,324

27,324

Retained earnings

(944,414)

(944,414)

Shareholders' funds

 

76,133

76,133

For the financial year ending 31 August 2023 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 and 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 14 March 2025 and signed on its behalf by:
 

.........................................
C L Dillner
Director

 

QM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales. 05116104.

The address of its registered office is:
Midsummer Court
Midsummer Boulevard
Milton Keynes
Buckinghamshire
MK9 2UB
England

These financial statements were authorised for issue by the Board on 14 March 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.

Going concern

The company acts as an intermediary holding company for the wider group's UK operations. The company's principal subsidiary sells the group's products into the UK market and therefore benefits from the continued support of the wider group at this time. Based on a review of the forecasts for the next 12 months it is the opinion of the director that the trading arrangements with the group will be sufficient to enable the company to continue to meet its liabilities as they fall due for the foreseeable future. The director has therefore continued to adopt the going concern basis of accounting in preparing the financial statements.

 

QM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, including directors, was 2 (2022 - 2).

4

Investments

2023
£

2022
£

Investments in subsidiaries

813,049

813,049

 

QM Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Subsidiaries

£

Cost or valuation

At 1 September 2022

813,049

Provision

Carrying amount

At 31 August 2023

813,049

At 31 August 2022

813,049

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings

736,916

736,916

6

Parent company

The company is a wholly owned subsidiary of Q-Matic Group AB, a company incorporated in Sweden.

The directors regard Q-Matic Group AB as the ultimate parent company. A copy of the financial statements can be obtained from Q-Matic Group AB, Neongatan 8, SE-431 53 Molndal Sweden. In the opinion of the directors there is no ultimate controlling party.