Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31truefalse2024-04-01falseOther research and experimental development on natural sciences and engineering.3837trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05575019 2024-04-01 2025-03-31 05575019 2025-03-31 05575019 2023-04-01 2024-03-31 05575019 2024-03-31 05575019 1 2024-04-01 2025-03-31 05575019 d:Director1 2024-04-01 2025-03-31 05575019 c:PlantMachinery 2024-04-01 2025-03-31 05575019 c:PlantMachinery 2025-03-31 05575019 c:PlantMachinery 2024-03-31 05575019 c:PlantMachinery c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05575019 c:OfficeEquipment 2024-04-01 2025-03-31 05575019 c:OfficeEquipment 2025-03-31 05575019 c:OfficeEquipment 2024-03-31 05575019 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05575019 c:ComputerEquipment 2024-04-01 2025-03-31 05575019 c:ComputerEquipment 2025-03-31 05575019 c:ComputerEquipment 2024-03-31 05575019 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05575019 c:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 05575019 c:OtherPropertyPlantEquipment 2025-03-31 05575019 c:OtherPropertyPlantEquipment 2024-03-31 05575019 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05575019 c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05575019 c:PatentsTrademarksLicencesConcessionsSimilar 2024-04-01 2025-03-31 05575019 c:PatentsTrademarksLicencesConcessionsSimilar 2025-03-31 05575019 c:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 05575019 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 05575019 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 05575019 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 05575019 c:Goodwill 2024-04-01 2025-03-31 05575019 c:Goodwill 2025-03-31 05575019 c:Goodwill 2024-03-31 05575019 c:CurrentFinancialInstruments 2025-03-31 05575019 c:CurrentFinancialInstruments 2024-03-31 05575019 c:Non-currentFinancialInstruments 2025-03-31 05575019 c:Non-currentFinancialInstruments 2024-03-31 05575019 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 05575019 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 05575019 c:Non-currentFinancialInstruments c:AfterOneYear 2025-03-31 05575019 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 05575019 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2025-03-31 05575019 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 05575019 c:ShareCapital 2025-03-31 05575019 c:ShareCapital 2024-03-31 05575019 c:SharePremium 2025-03-31 05575019 c:SharePremium 2024-03-31 05575019 c:RetainedEarningsAccumulatedLosses 2025-03-31 05575019 c:RetainedEarningsAccumulatedLosses 2024-03-31 05575019 d:FRS102 2024-04-01 2025-03-31 05575019 d:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 05575019 d:FullAccounts 2024-04-01 2025-03-31 05575019 d:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05575019 c:PatentsTrademarksLicencesConcessionsSimilar c:ExternallyAcquiredIntangibleAssets 2024-04-01 2025-03-31 05575019 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:ExternallyAcquiredIntangibleAssets 2024-04-01 2025-03-31 05575019 c:Goodwill c:ExternallyAcquiredIntangibleAssets 2024-04-01 2025-03-31 05575019 2 2024-04-01 2025-03-31 05575019 c:ExternallyAcquiredIntangibleAssets 2024-04-01 2025-03-31 05575019 c:Goodwill c:OwnedIntangibleAssets 2024-04-01 2025-03-31 05575019 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2024-04-01 2025-03-31 05575019 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2024-04-01 2025-03-31 05575019 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure
Registered number: 05575019


QUANTUM DETECTORS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
QUANTUM DETECTORS LIMITED
REGISTERED NUMBER: 05575019

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,374,889
2,564,468

Tangible assets
 5 
10,032
9,763

  
3,384,921
2,574,231

Current assets
  

Stocks and work in progress
 6 
1,715,702
1,606,251

Debtors: amounts falling due within one year
 7 
1,031,897
1,576,374

Cash at bank and in hand
 8 
1,323,906
695,994

  
4,071,505
3,878,619

Creditors: amounts falling due within one year
 9 
(3,528,120)
(2,876,452)

Net current assets
  
 
 
543,385
 
 
1,002,167

Total assets less current liabilities
  
3,928,306
3,576,398

Creditors: amounts falling due after more than one year
 10 
(10,000)
(10,000)

  

Net assets
  
3,918,306
3,566,398


Capital and reserves
  

Called up share capital 
  
199
199

Share premium account
  
1,600,137
1,600,137

Profit and loss account
  
2,317,970
1,966,062

  
3,918,306
3,566,398


Page 1

 
QUANTUM DETECTORS LIMITED
REGISTERED NUMBER: 05575019
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 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 statement of income and retained earnings 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: 




Mr R Goldsbrough
Director

Date: 24 July 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Quantum Detectors Limited is a private limited company registered in England and Wales.
The company's registered office is R103 Harwell Campus, Didcot, Oxfordshire, OX11 0QX.
The company's registered number is 05575019.

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.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Page 3

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.3

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Effective from 1 April 2022, the Company has updated its revenue recognition policy. 
 
Under the previous policy, revenue was recognised at various invoiced stages throughout the sales process. These stages typically included order placement, delivery and acceptance.
 
From 1 April 2022, the Company will recognise revenue for an entire project when necessary site acceptance tests have been completed. These milestones signify that the customer has accepted the product or service and has obtained control over it.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives of 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Pensions

Defined contribution pension plan

The Company contributes into a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.12

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
15
years
Development expenditure
-
5
years
Licence Fee
-
5
years

 
2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.13
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
straight-line method
Office equipment
-
33%
straight-line method
Computer equipment
-
33%
straight-line method
Lab equipment
-
33%
straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.14

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

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.

 
2.17

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.


Employees

The average monthly number of employees, including directors, during the year was 38 (2024 - 37).

Page 7

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Intangible assets




Patents
Development expenditure
Licence Fee
Total

£
£
£
£



Cost


At 1 April 2024
22,860
2,722,016
-
2,744,876


Additions
-
801,001
223,727
1,024,728



At 31 March 2025

22,860
3,523,017
223,727
3,769,604



Amortisation


At 1 April 2024
8,980
171,430
-
180,410


Charge for the year on owned assets
1,524
197,954
14,827
214,305



At 31 March 2025

10,504
369,384
14,827
394,715



Net book value



At 31 March 2025
12,356
3,153,633
208,900
3,374,889



At 31 March 2024
13,881
2,550,587
-
2,564,468



Page 8

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2024
124,022
2,636
71,499
36,228
234,385


Additions
-
-
7,001
808
7,809



At 31 March 2025

124,022
2,636
78,500
37,036
242,194



Depreciation


At 1 April 2024
124,022
2,595
62,836
35,169
224,622


Charge for the year on owned assets
-
41
6,238
1,261
7,540



At 31 March 2025

124,022
2,636
69,074
36,430
232,162



Net book value



At 31 March 2025
-
-
9,426
606
10,032



At 31 March 2024
-
41
8,663
1,059
9,763


6.


Stocks and work in progress

2025
2024
£
£

Inventory
1,715,702
1,606,251

1,715,702
1,606,251


Page 9

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Debtors

2025
2024
£
£


Trade debtors
645,049
1,280,459

Other debtors
299,447
249,721

Prepayments and accrued income
87,401
46,194

1,031,897
1,576,374



8.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
1,323,906
695,994

1,323,906
695,994



9.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
400,000
150,000

Trade creditors
922,816
524,101

Other taxation and social security
49,796
49,269

Other creditors
28,189
47,358

Accruals and deferred income
2,127,319
2,105,724

3,528,120
2,876,452



10.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other loans
10,000
10,000

10,000
10,000


Page 10

 
QUANTUM DETECTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

11.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
400,000
150,000


400,000
150,000

Amounts falling due 1-2 years

Other loans
10,000
10,000


10,000
10,000



410,000
160,000



12.


Pension commitments

The Company contributes into a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £114,871 (2024 - £115,140). Contributions totalling £28,006 (2024 - £45,202) were payable to the fund at the balance sheet date and are included in creditors.


13.


Post balance sheet events

On 1 April 2025, 5015 Limited acquired all of the company's shares previously held by STFC Innovations Ltd.


14.


Controlling party

At the balance sheet date, he controlling party of the company was STFC Innovations Limited. STFC Innovations Limited is wholly owned by the Science and Technology Facilities Council (STFC). On 1 April 2018, STFC became part of UK Research and Innovation (UKRI), a non-departmental public body funded by a grant-in-aid from the  UK  Government.  The  Directors  regard  UKRI  as  the  Company's  ultimate  parent.  The  financial statements of UKRI are available from UK Research and Innovation, Polaris House. North Star Avenue, Swindon, SN2 1SZ.
As of 1 April 2025 the company's controlling party is 5015 Limited by virtue of its shareholding.

 
Page 11