Company registration number 11276313 (England and Wales)
QUANTUMCLS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
QUANTUMCLS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
QUANTUMCLS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,323
12,457
Current assets
Debtors
4
166,650
108,002
Cash at bank and in hand
68,702
122,898
235,352
230,900
Creditors: amounts falling due within one year
5
(143,239)
(119,612)
Net current assets
92,113
111,288
Total assets less current liabilities
103,436
123,745
Creditors: amounts falling due after more than one year
6
(1,775)
(12,235)
Provisions for liabilities
(2,724)
(2,772)
Net assets
98,937
108,738
Capital and reserves
Called up share capital
7
400
400
Profit and loss reserves
98,537
108,338
Total equity
98,937
108,738
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 June 2025 and are signed on its behalf by:
Mr A L J Penny
Director
Company Registration No. 11276313
QUANTUMCLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
QuantumCLS Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Park Court Mews, Park Place, Cardiff, CF10 3DQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from quantity surveyor activities is recognised when, and to the extent that, the company obtains the right to consideration in exchange for services provided.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% straight line
Computers
33% straight line
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
QUANTUMCLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
5
4
QUANTUMCLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2024
11,194
15,378
26,572
Additions
1,111
3,898
5,009
At 31 March 2025
12,305
19,276
31,581
Depreciation and impairment
At 1 April 2024
3,347
10,768
14,115
Depreciation charged in the year
2,202
3,941
6,143
At 31 March 2025
5,549
14,709
20,258
Carrying amount
At 31 March 2025
6,756
4,567
11,323
At 31 March 2024
7,847
4,610
12,457
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
120,066
60,506
Other debtors
46,584
47,496
166,650
108,002
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,462
10,204
Trade creditors
4,537
3,760
Corporation tax
63,972
52,471
Other taxation and social security
54,575
44,513
Other creditors
9,693
8,664
143,239
119,612
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,775
12,235
QUANTUMCLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
390
390
390
390
Ordinary B of £1 each
5
5
5
5
Ordinary C of £1 each
5
5
5
5
400
400
400
400
8
Related party transactions
Included in other debtors is an amount of £44,726 (2024 - £43,900) for a loan to QuantumCLS Property Ltd, a company with the same directors. This amount is included in debtors; amounts falling due within one year.