Quantum Switch Group Services Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 14358300

Quantum Switch Group Services Limited

Unaudited Financial Statements

31 December 2024

Quantum Switch Group Services Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Directors' report	1

Consolidated statement of income and retained earnings	2

Company statement of income and retained earnings	3

Consolidated statement of financial position	4

Company statement of financial position	5

Consolidated statement of cash flows	6

Notes to the financial statements	7

Quantum Switch Group Services Limited

Directors' Report

Year ended 31 December 2024

The directors present their report and the unaudited financial statements of the group for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

Mr T F Bawtree
Mr R W Bailey	(Appointed 3 May 2024)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Mr T F Bawtree

Director

Registered office:

Suite 702

Eagle Tower

Montpellier Drive

Cheltenham

GL501TA

Quantum Switch Group Services Limited

Consolidated Statement of Income and Retained Earnings

Year ended 31 December 2024

		2024	2023
Note		£	£
Turnover	4	1,890,052	1,159,546

	------------	------------
Gross profit	1,890,052	1,159,546

Administrative expenses		1,990,722	1,161,178
		------------	------------
Operating loss	5	( 100,670)	( 1,632)

	------------	------------
Loss before taxation	( 100,670)	( 1,632)

Tax on loss	–	–
	---------	-------
Loss for the financial year and total comprehensive income	( 100,670)	( 1,632)
	---------	-------

Retained losses at the start of the year	( 1,632)	–
	---------	-------
Retained losses at the end of the year	( 102,302)	( 1,632)
	---------	-------

All the activities of the group are from continuing operations.

Quantum Switch Group Services Limited

Company Statement of Income and Retained Earnings

Year ended 31 December 2024

	2024	2023
Note	£	£
Retained earnings at the start of the year	–	–

Quantum Switch Group Services Limited

Consolidated Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Debtors	7	411,542	198,383
Investments	8	3	3
Cash at bank and in hand		889	3,212
		---------	---------
		412,434	201,598

Creditors: amounts falling due within one year	9	514,636	203,130
		---------	---------
Net current liabilities		102,202	1,532
		---------	-------
Total assets less current liabilities		( 102,202)	( 1,532)
		---------	-------

Capital and reserves

Called up share capital	11	100	100
Profit and loss account		( 102,302)	( 1,632)
		---------	-------
Shareholders deficit		( 102,202)	( 1,532)
		---------	-------

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mr T F Bawtree

Director

Company registration number: 14358300

Quantum Switch Group Services Limited

Company Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Debtors	7	100	100
Investments	8	4	4
		----	----
		104	104

Creditors: amounts falling due within one year	9	4	4
		----	----
Net current assets		100	100
		----	----
Total assets less current liabilities		100	100
		----	----

Capital and reserves

Called up share capital	11	100	100
		----	----
Shareholders funds		100	100
		----	----

The profit for the financial year of the parent company was £Nil (2023: £Nil).

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mr T F Bawtree

Director

Company registration number: 14358300

Quantum Switch Group Services Limited

Consolidated Statement of Cash Flows

Year ended 31 December 2024

	2024	2023
	£	£

Cash flows from operating activities

Loss for the financial year	( 100,670)	( 1,632)

Adjustments for:

Changes in:
Trade and other debtors	( 213,159)	( 198,383)
Trade and other creditors	304,226	202,010
	---------	---------
Cash generated from operations	( 9,603)	1,995
	-------	-------
Net cash (used in)/from operating activities	( 9,603)	1,995
	-------	-------

Cash flows from investing activities

Acquisition of subsidiaries	–	( 3)
Other investing cash flow adjustment	–	100
	-------	-------
Net cash from investing activities	–	97
	-------	-------

Cash flows from financing activities

Proceeds from loans from group undertakings	7,280	1,120
	-------	-------
Net cash from financing activities	7,280	1,120
	-------	-------

Net (decrease)/increase in cash and cash equivalents	( 2,323)	3,212
Cash and cash equivalents at beginning of year	3,212	–
	-------	-------
Cash and cash equivalents at end of year	889	3,212
	-------	-------

Quantum Switch Group Services Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 702, Eagle Tower, Montpellier Drive, Cheltenham, GL501TA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of Quantum Switch Group Services Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Rendering of services	1,890,052	1,159,546
	------------	------------

The whole of the turnover is attributable to the principal activity of the group wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit or loss is stated after charging:

	2024	2023
	£	£
Foreign exchange differences	3,167	–
	-------	----

6. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

	2024	2023
	No.	No.
Number of staff	17	17
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	1,698,981	1,010,864
Social security costs	213,523	125,034
Other pension costs	31,027	13,666
	------------	------------
	1,943,531	1,149,564
	------------	------------

7. Debtors

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Trade debtors	411,442	198,283	–	–
Called up share capital not paid	100	100	100	100
	---------	---------	----	----
	411,542	198,383	100	100
	---------	---------	----	----

8. Investments

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Investments in group undertakings	3	3	4	4
	----	----	----	----

9. Creditors: amounts falling due within one year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Trade creditors	53,816	67,823	–	–
Amounts owed to group undertakings	8,400	1,120	–	–
Social security and other taxes	124,906	130,377	–	–
Other creditors	327,514	3,810	4	4
	---------	---------	----	----
	514,636	203,130	4	4
	---------	---------	----	----

10. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 31,027 (2023: £ 13,666 ).

11. Called up share capital

Authorised share capital

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

Issued and called up

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

Shares issued and partly paid

	2024		2023
	No.	£	No.	£
Ordinary shares - £– paid of £ 1 each	100	–	100	–
	----	----	----	----

12. Analysis of changes in net debt

	At 1 Jan 2024	Cash flows	At 31 Dec 2024
	£	£	£
Cash at bank and in hand	3,212	(2,323)	889
Debt due within one year	(1,120)	(7,280)	(8,400)
Current asset investments	3	–	3
	-------	-------	-------
	2,095	( 9,603)	( 7,508)
	-------	-------	-------