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REGISTERED NUMBER: 02947971 (England and Wales)















Financial Statements for the Year Ended 31 July 2024

for

Quantum Engineering Developments Ltd

Quantum Engineering Developments Ltd (Registered number: 02947971)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Quantum Engineering Developments Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: R J Hogsden
N P Hill
P R Hogsden



SECRETARY: R J Hogsden



REGISTERED OFFICE: Quantum House
Saxon Business Park
Stoke Prior
Bromsgrove
Worcestershire
B60 4AD



REGISTERED NUMBER: 02947971 (England and Wales)



SENIOR STATUTORY AUDITOR: Charles Hinitt FCCA



AUDITORS: Charles Hinitt & Associates Limited
Chartered Certified Accountants &
Statutory Auditors
48 Belle Vue Terrace
Malvern
Worcestershire
WR14 4QG

Quantum Engineering Developments Ltd (Registered number: 02947971)

Abridged Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,318 51,317

CURRENT ASSETS
Stocks 65,000 40,000
Debtors 1,141,270 495,365
Cash at bank and in hand 1,143,333 854,752
2,349,603 1,390,117
CREDITORS
Amounts falling due within one year 1,159,506 669,369
NET CURRENT ASSETS 1,190,097 720,748
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,280,415

772,065

CREDITORS
Amounts falling due after more than one
year

(29,247

)

(34,228

)

PROVISIONS FOR LIABILITIES (17,204 ) (11,876 )
NET ASSETS 1,233,964 725,961

CAPITAL AND RESERVES
Called up share capital 479 1,072
Capital redemption reserve 1,021 428
Retained earnings 1,232,464 724,461
SHAREHOLDERS' FUNDS 9 1,233,964 725,961

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 24 March 2025 and were signed on its behalf by:





P R Hogsden - Director


Quantum Engineering Developments Ltd (Registered number: 02947971)

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

1. STATUTORY INFORMATION

Quantum Engineering Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements are prepared in Sterling (£).

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Quantum Engineering Developments Ltd (Registered number: 02947971)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023 252,454
Additions 80,230
Disposals (37,400 )
At 31 July 2024 295,284
DEPRECIATION
At 1 August 2023 201,137
Charge for year 28,845
Eliminated on disposal (25,016 )
At 31 July 2024 204,966
NET BOOK VALUE
At 31 July 2024 90,318
At 31 July 2023 51,317

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.7.24 31.7.23
£    £   
Net obligations repayable:
Within one year - 3,829
Between one and five years - 2,868
- 6,697

Non-cancellable operating leases
31.7.24 31.7.23
£    £   
Within one year 14,318 36,012
Between one and five years - 18,502
14,318 54,514

Quantum Engineering Developments Ltd (Registered number: 02947971)

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

6. SECURED DEBTS

The company's bankers, HSBC Bank plc, hold a fixed charge over book debts and a floating charge over all other company assets dated 29 July 1994.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Charles Hinitt FCCA (Senior Statutory Auditor)
for and on behalf of Charles Hinitt & Associates Limited

8. CONTROL

The company has no ultimate controlling party.

9. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
31.7.24 31.7.23
£    £   
Profit for the financial year 822,364 577,265
Dividends (189,418 ) (134,678 )
632,946 442,587
Payments to acquire own shares (124,943 ) -
Opening shareholders funds - 283,374
Net addition to shareholders' funds 508,003 725,961
Opening shareholders' funds 725,961 -
Closing shareholders' funds 1,233,964 725,961