Quoceant Limited 31/12/2024 iXBRL

Company registration number: SC488062

Quoceant Limited

Unaudited filleted financial statements

31 December 2024

Quoceant Limited

Contents

Statement of financial position

Notes to the financial statements

Quoceant Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Intangible assets	5	10,115		-
Tangible assets	6	10,766		22,804
		_______		_______
			20,881		22,804

Current assets
Debtors	7	212,733		203,781
Cash at bank and in hand		106,937		165,761
		_______		_______
		319,670		369,542
Creditors: amounts falling due
within one year	8	( 73,649)		( 93,594)
		_______		_______
Net current assets			246,021		275,948
			_______		_______
Total assets less current liabilities			266,902		298,752

			_______		_______
Net assets			266,902		298,752
			_______		_______

Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			265,902		297,752
			_______		_______
Shareholders funds			266,902		298,752
			_______		_______

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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 21 May 2025 , and are signed on behalf of the board by:

Dr Richard W Yemm

Director

Company registration number: SC488062

Quoceant 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 Scotland. The address of the registered office is Unit 3, Edgefield Road Industrial Estate, Loanhead, Midlothian, EH20 9TB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Going concern

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

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Combined other intangible assets	-	0 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	50.00 %	straight line
Fittings fixtures and equipment	-	25.00 %	straight line
Computer equipment	-	33.33 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Financial instruments

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.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments.

Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

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 in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2023: 10 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 January 2024	19,707	19,707
Additions	10,115	10,115
	_______	_______
At 31 December 2024	29,822	29,822
	_______	_______
Amortisation
At 1 January 2024 and 31 December 2024	19,707	19,707
	_______	_______
Carrying amount
At 31 December 2024	10,115	10,115
	_______	_______
At 31 December 2023	-	-
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	22,502	10,525	8,495	57,618	99,140
Additions	2,283	-	-	1,298	3,581
	_______	_______	_______	_______	_______
At 31 December 2024	24,785	10,525	8,495	58,916	102,721
	_______	_______	_______	_______	_______
Depreciation
At 1 January 2024	19,509	7,363	2,124	47,340	76,336
Charge for the year	4,134	1,614	2,124	7,747	15,619
	_______	_______	_______	_______	_______
At 31 December 2024	23,643	8,977	4,248	55,087	91,955
	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2024	1,142	1,548	4,247	3,829	10,766
	_______	_______	_______	_______	_______
At 31 December 2023	2,993	3,162	6,371	10,278	22,804
	_______	_______	_______	_______	_______

7. Debtors

	2024	2023
	£	£
Trade debtors	10,756	28,094
Other debtors	201,977	175,687
	_______	_______
	212,733	203,781
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	7,483	12,422
Social security and other taxes	52,109	46,389
Other creditors	14,057	34,783
	_______	_______
	73,649	93,594
	_______	_______