Quadtronics Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Quadtronics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05273105 . The registered office is Unit A Linsford Business Park, Linsford Lane, Mytchett, Camberley, Surrey, GU16 6DL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	25% Reducing Balance

2.5. Leasing and Hire Purchase Contracts

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

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Quadtronics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due

2.10. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.11. 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 not recognised in the period in which the employee’s services are received as it considered immaterial.

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Quadtronics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.12. Operating lease commitments

Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £10,000 (2023 : £11,250)

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2023: 7)

4. Tangible Assets

	Investment Properties	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2024	11,386	13,923	40,517	21,550
Additions	5,535	386	-	2,167
Transfers	-	-	-	6,675

As at 31 December 2024	16,921	14,309	40,517	30,392

Depreciation
As at 1 January 2024	9,551	11,184	20,124	17,748
Provided during the period	1,383	782	5,098	2,996
Transfers	-	-	-	469

As at 31 December 2024	10,934	11,966	25,222	21,213

Net Book Value
As at 31 December 2024	5,987	2,343	15,295	9,179

As at 1 January 2024	1,835	2,739	20,393	3,802

	Computer Equipment	Total
	£	£
Cost
As at 1 January 2024	30,736	118,112
Additions	-	8,088
Transfers	(6,675 )	-

As at 31 December 2024	24,061	126,200

Depreciation
As at 1 January 2024	16,380	74,987
Provided during the period	2,052	12,311
Transfers	(498 )	(29 )

As at 31 December 2024	17,934	87,269

Net Book Value
As at 31 December 2024	6,127	38,931

As at 1 January 2024	14,356	43,125

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Quadtronics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Stocks

	2024	2023
	£	£
Stock - finished goods	79,563	63,534

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	191,583	211,895
Prepayments and accrued income	600	600
Other debtors	6,015	18,413
Net wages	-	8,604
Directors' loan accounts	85,863	75,190

	284,061	314,702
Due after more than one year
Other debtors	16,000	-
Property Deposit	1,109	1,109

	17,109	1,109

	301,170	315,811

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	175,199	205,316
Bank loans and overdrafts	130,071	147,504
Corporation tax	12,011	1,532
Other taxes and social security	83,104	37,320
VAT	24,272	24,125
Credit Card Control	(1,439 )	21
Pension Control	1,040	1,230
Sundry creditors	9,283	5,100
Credit Card Control Account	-	(1 )
Accruals and deferred income	2,768	2,794

	436,309	424,941

8. Secured Creditors

Of the creditors the following amounts are secured by way of a fixed and floating charge over the assets of the company. .

	2024		2023
	£		£
Bank loans and overdrafts	130,017		147,504

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Quadtronics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
80 Ordinary Shares of £ 1.000 each	80	80
20 Ordinary A shares of £ 1.000 each	20	20

	100	100

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Michele Smith	(75,190 )	(51,227 )	40,554	-	(85,863 )

The above loan is unsecured, interest is charged at commerical rates and repayable on demand.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		38,931		43,125

			38,931		43,125
CURRENT ASSETS
Stocks	5	79,563		63,534
Debtors	6	301,170		315,811
Cash at bank and in hand		8,881		1,907

		389,614		381,252
Creditors: Amounts Falling Due Within One Year	7	(436,309 )		(424,941 )

NET CURRENT ASSETS (LIABILITIES)			(46,695 )		(43,689 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(7,764 )		(564 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,695 )		(7,002 )

NET LIABILITIES			(15,459 )		(7,566 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(15,559 )		(7,666 )

SHAREHOLDERS' FUNDS			(15,459)		(7,566)