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Registration number: 04775920

Quicklink Video Distribution Services Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Quicklink Video Distribution Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Quicklink Video Distribution Services Limited

Company Information

Directors

Mr R J Rees

Mr D Audion

Company secretary

Mrs B J Rees

Registered office

Block A
Bay Studios
Fabian Way
Swansea
West Glamorgan
SA1 8QB

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Quicklink Video Distribution Services Limited

(Registration number: 04775920)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

47,337

55,142

Current assets

 

Stocks

5

346,528

257,035

Debtors

6

395,975

304,428

Cash at bank and in hand

 

1,966,903

2,699,199

 

2,709,406

3,260,662

Creditors: Amounts falling due within one year

7

(648,339)

(683,117)

Net current assets

 

2,061,067

2,577,545

Net assets

 

2,108,404

2,632,687

Capital and reserves

 

Called up share capital

9

150

150

Retained earnings

2,108,254

2,632,537

Shareholders' funds

 

2,108,404

2,632,687

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Quicklink Video Distribution Services Limited

(Registration number: 04775920)
Balance Sheet as at 30 November 2024

Approved and authorised by the Board on 29 August 2025 and signed on its behalf by:
 

.........................................
Mr R J Rees
Director

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Block A
Bay Studios
Fabian Way
Swansea
West Glamorgan
SA1 8QB
Wales

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% on reducing balance

Computer equipment

33% on reducing balance

Leasehold improvements

Over lease term

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 18).

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2023

67,703

76,110

143,813

Additions

-

8,366

8,366

Disposals

-

(18,288)

(18,288)

At 30 November 2024

67,703

66,188

133,891

Depreciation

At 1 December 2023

38,365

50,306

88,671

Charge for the year

6,771

7,177

13,948

Eliminated on disposal

-

(16,065)

(16,065)

At 30 November 2024

45,136

41,418

86,554

Carrying amount

At 30 November 2024

22,567

24,770

47,337

At 30 November 2023

29,338

25,804

55,142

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Stocks

2024
£

2023
£

Other inventories

346,528

257,035

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

81,135

98,067

Amounts owed by related parties

10

229,934

149,151

Prepayments

 

22,180

21,514

Other debtors

 

62,726

35,696

   

395,975

304,428

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

36,723

51,196

Taxation and social security

14,569

14,635

Accruals and deferred income

54,984

51,618

Other creditors

542,063

565,668

648,339

683,117

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Later than five years

98,450

127,985

98,450

127,985

The amount of non-cancellable operating lease payments recognised as an expense during the year was £41,220 (2023 - £36,329).

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

150

150

150

150

       

10

Related party transactions

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr R J Rees

Directors loan

(35,994)

77,510

(13,397)

28,119

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

10

Related party transactions (continued)

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr R J Rees

Directors loan

(319,240)

579,737

(296,491)

(35,994)

Loans to related parties

2024

Parent
£

Total
£

At start of period

64,694

64,694

At end of period

64,694

64,694

2023

Parent
£

Total
£

At start of period

(32,171)

(32,171)

Advanced

201,233

201,233

Repaid

(104,368)

(104,368)

At end of period

64,694

64,694

Terms of loans to related parties

As at the balance sheet date, the company was owed £64,694 (2023 - £64,694) from Lien Rapide Limited. The company considers this loan to be interest free and repayable on demand.
 

 

Quicklink Video Distribution Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

10

Related party transactions (continued)

Summary of transactions with other related parties

Quicklink SL

A company under common control of one of the directors.

As at the balance sheet date the company was owed £121,899 (2023 - £84,457) from Quicklink SL. Quicklink SL provides consultancy services to the company which totalled £380,271 (2023 - £326,428).

11

Parent and ultimate parent undertaking

The company's immediate parent is Lien Rapide Limited, incorporated in United Kingdom.

 The ultimate controlling party is Mr R J Rees.