1 December 2023 false No description of principal activity Taxfiler 2024.6 SC681916business:PrivateLimitedCompanyLtd2023-12-012024-11-30 SC6819162023-11-30 SC6819162023-12-012024-11-30 SC681916business:AuditExempt-NoAccountantsReport2023-12-012024-11-30 SC681916business:FilletedAccounts2023-12-012024-11-30 SC6819162024-11-30 SC681916business:Director12023-12-012024-11-30 SC681916business:Director22023-12-012024-11-30 SC681916business:CompanySecretary12023-12-012024-11-30 SC681916business:RegisteredOffice2023-12-012024-11-30 SC6819162023-11-30 SC681916core:WithinOneYear2024-11-30 SC681916core:WithinOneYear2023-11-30 SC681916core:AfterOneYear2024-11-30 SC681916core:AfterOneYear2023-11-30 SC681916core:ShareCapitalcore:PreviouslyStatedAmount2024-11-30 SC681916core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 SC681916core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-11-30 SC681916core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 SC681916core:PreviouslyStatedAmount2024-11-30 SC681916core:PreviouslyStatedAmount2023-11-30 SC681916business:SmallEntities2023-12-012024-11-30 SC681916countries:Scotland2023-12-012024-11-30 SC681916core:PlantMachinery2023-12-012024-11-30 SC681916core:PlantMachinery2023-11-30 SC681916core:PlantMachinery2024-11-30 SC6819162022-12-012023-11-30 iso4217:GBP xbrli:pure
Company Registration No. SC681916 (Scotland)
Quanscient Ltd Unaudited accounts for the year ended 30 November 2024
Quanscient Ltd Unaudited accounts Contents
Page
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Quanscient Ltd Company Information for the year ended 30 November 2024
Directors
Andrew Tweedie Juha Riippi
Secretary
Teemu Uotila
Company Number
SC681916 (Scotland)
Registered Office
37 Midlothian Drive Glasgow G41 3QU
Accountants
Kelly Tax Services Limited New Alderston House 3 Dove Wynd Strathclyde Business Park Bellshill North Lanarkshire ML4 3FB
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Quanscient Ltd Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
588 
1,895 
Current assets
Debtors
7,915 
11,918 
Cash at bank and in hand
9,704 
30,706 
17,619 
42,624 
Creditors: amounts falling due within one year
(9,643)
(10,084)
Net current assets
7,976 
32,540 
Total assets less current liabilities
8,564 
34,435 
Creditors: amounts falling due after more than one year
- 
(10,000)
Net assets
8,564 
24,435 
Capital and reserves
Called up share capital
167 
167 
Profit and loss account
8,397 
24,268 
Shareholders' funds
8,564 
24,435 
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by
Andrew Tweedie Director Company Registration No. SC681916
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Quanscient Ltd Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Quanscient Ltd is a private company, limited by shares, registered in Scotland, registration number SC681916. The registered office is 37 Midlothian Drive, Glasgow, G41 3QU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line and 25% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Quanscient Ltd Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2023
5,206 
At 30 November 2024
5,206 
Depreciation
At 1 December 2023
3,311 
Charge for the year
1,307 
At 30 November 2024
4,618 
Net book value
At 30 November 2024
588 
At 30 November 2023
1,895 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
7,915 
11,918 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
(752)
(406)
Taxes and social security
4,340 
7,422 
Other creditors
3,271 
3,068 
Loans from directors
2,784 
- 
9,643 
10,084 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
- 
10,000 
8
Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from the company in an independently administered fund. The pension cost charge represents the contributions payable by the company to the fund and amounted to £1,800 (2023: £1,800). At balance sheet date, unpaid contributions of £Nil (2023: £Nil) were due to the fund.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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