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Registered number: 14296406










QUADMARK HOLDINGS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
QUADMARK HOLDINGS LIMITED
REGISTERED NUMBER: 14296406

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
$
$

Fixed assets
  

Investments
 3 
8,019,287
8,019,287

  
8,019,287
8,019,287

Current assets
  

Debtors: amounts falling due within one year
 4 
150,774
150,000

Cash at bank and in hand
 5 
31,444
1

  
182,218
150,001

Creditors: amounts falling due within one year
 6 
(267,798)
(370,185)

Net current liabilities
  
 
 
(85,580)
 
 
(220,184)

Total assets less current liabilities
  
7,933,707
7,799,103

Creditors: amounts falling due after more than one year
 7 
(6,110,818)
(5,708,903)

  

Net assets
  
1,822,889
2,090,200


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,822,888
2,090,199

  
1,822,889
2,090,200


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 profit and loss account 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: 


H Earl-Wright
Director
Date: 8 April 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Quadmark Holdingd Limited (registered number: 14296406) is a private company, limited by shares and registered in England and Wales under the Companies Act. The address of the registered office is 10 Orange Street, Haymarket, London, WCH 7DQ.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The Directors are satisfied that the group has adequate resources to continue operations for the foreseeable future. Based on a review of the forecasts and plans the Directors' believe that the financial statements have been appropriately prepared on a going concern basis.

 
2.4

Foreign currency translation

The Company's functional currency is GBP. Quadmark Pte's functional currency is Singapore Dollar, whilst Quadmark China is in Yuan. Quadmark Limited has a functional currency of GBP. This differs from the presentational currency which is USD. The reason for the difference is that most of the transactions at the Holdings level are completed in USD. Management believe therefore, that the presentational currency is more representative of the day-to-day transactions.
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.
On consolidation, the results of overseas operations are translated into Dollars at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 2

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Fixed asset investments





Investments in subsidiary companies

$



Cost or valuation


At 1 January 2024
8,019,287



At 31 December 2024
8,019,287




Page 3

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Quadmark Pte Limited
1 Wallich St, Tower 14-01 Guoco, Singapore 07888
Ordinary
100%


4.


Debtors

2024
2023
$
$


Amounts owed by group undertakings
150,000
150,000

Other debtors
774
-

150,774
150,000


Amounts owed by group undertakings are interest free, unsecured and repayable on demand.


5.


Cash and cash equivalents

2024
2023
$
$

Cash at bank and in hand
31,444
1

31,444
1



6.


Creditors: Amounts falling due within one year

2024
2023
$
$

Deferred consideration
244,531
346,918

Other creditors
23,267
23,267

267,798
370,185


Page 4

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
$
$

Deferred consideration
3,374,216
4,253,903

Amounts owed to group undertakings
2,736,602
1,455,000

6,110,818
5,708,903


Amounts owed by group undertakings are interest free, unsecured and repayable on demand.


8.


Deferred consideration


2024
2023
$
$

Amounts falling due within one year

Deferred consideration
244,531
346,918

Amounts falling due 1-2 years

Deferred consideration
2,174,025
2,972,439

Amounts falling due 2-5 years

Deferred consideration
1,200,191
1,281,464


3,618,747
4,600,821


Page 5

 
QUADMARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

9.


Share capital

2024
2023
$
$
Allotted, called up and fully paid



1 (2023 - 1)  share of $1.00 each
1
1



10.


Related party transactions

At the year end, Quadmark Holdings Limited had a loan balance payable to Quadmark Limited, an indirect subsidiary, of $2,736,602 (2023: $1,455,000). Quadmark Holdings Limited was owed $150,000 (2023: $150,000) from Quadmark Pte Limited, a direct subsidiary.


11.


Controlling party

As at 31 December 2024 the company is controlled by H Earl-Wright by virtue of her majority shareholding.


12.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.

The audit report was signed on 8 April 2025 by Darren O'Connor BSc (Hons) FCCA ACA (Senior statutory auditor) on behalf of James Cowper Kreston Audit.

Page 6