Quadra Claims Services Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 9

Quadra Claims Services Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	100,763	82,740
Current assets
Debtors	5	3,316,057	2,674,196
Cash at bank and in hand		555,235	451,739
		3,871,292	3,125,935
Creditors: Amounts falling due within one year	6	(1,735,788)	(1,376,443)
Net current assets		2,135,504	1,749,492
Total assets less current liabilities		2,236,267	1,832,232
Provisions for liabilities		(102,783)	(96,030)
Net assets		2,133,484	1,736,202
Capital and reserves
Called up share capital	7	5,290	5,290
Share premium reserve		37,757	37,757
Capital redemption reserve		4,441	4,441
Profit and loss account		2,085,996	1,688,714
Shareholders' funds		2,133,484	1,736,202

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... J Eveling Company secretary and director

Company Registration Number: 07191064

Quadra Claims Services Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
86 Deansgate
Manchester
England
M3 2ER

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Quadra Claims Services Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Judgements

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessor are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Key sources of estimation uncertainty

- Tangible fixed assets

Tangible fixed assets are depreciated over their useful fives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

- Trade debtors
Determine the recoverability of trade receivables via ragular review in the light of the available economic information specific to each receivable with specific provisions recognised for balances considered to be irrecoverable.

- Accrued income
Determine the value of revenue to recognise on cases that remain open at the year end. This calculation is dependent on the number of case files open as well as the revenue assigned to each case file. The value assigned per case file is based on that historically achieved with the appropriateness of the value applied reviewed at regular intervals.

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. For those fees where the company acts as agent, it represents a handling fee on claims from insurance companies. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to the consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors as accrued income and payments on account in excess of the relevant amount of revenue are included in creditors as deferred income.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

Quadra Claims Services Limited

Notes to the Financial Statements

Year Ended 31 December 2024

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

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 corporation 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.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Quadra Claims Services Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Tangible assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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.

Recoverabte amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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, fittings & equipment	15% Reducing balance
Computer equipment	30% Straight line
Computer software	10% Straight line
Motor vehicles	10% Straight line

Quadra Claims Services Limited

Notes to the Financial Statements

Year Ended 31 December 2024

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 employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 23).

Quadra Claims Services Limited

Notes to the Financial Statements

Year Ended 31 December 2024

5

Debtors

	2024 £	2023 £
Trade debtors	1,927,238	1,148,764
Amounts owed by group undertakings	987,329	1,023,389
Prepayments and accrued income	396,855	497,613
Other debtors	4,635	4,430
	3,316,057	2,674,196

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	1,107,694	935,146
Amounts owed to group undertakings	42,502	48,703
Taxation and social security	166,130	67,381
Other creditors	211,664	113,983
Corporation tax	207,798	211,230
	1,735,788	1,376,443

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary 'A' Shares of £0.01 each	490,875	4,909	490,875	4,909
Ordinary 'B' Shares of £0.01 each	38,138	381	38,138	381
	529,013	5,290	529,013	5,290

8	Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was James Barrett, who signed for and on behalf of PKF Francis Clark on 30 September 2025.

Quadra Claims Services Limited

Notes to the Financial Statements

Year Ended 31 December 2024

9	Parent and ultimate parent undertaking

The company's immediate parent is Woodgate & Clark Limited, incorporated in England and Wales.

 The ultimate parent is RWTUV e.V. and TUV Thuringen e.V., incorporated in Germany.

 

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Van Ameyde International BV., incorporated in the Netherlands.

The address of Van Ameyde International BV. is:
Einsteinlaan 20, 2289 CC Rijswijk