Company No: 09515944 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Intangible assets	4	1,804,336		1,383,592
Tangible assets	5	548,059		641,841
		2,352,395		2,025,433
Current assets
Stocks		47,569		66,243
Debtors	6	2,015,383		1,398,804
Cash at bank and in hand		2,329,652		1,893,280
		4,392,604		3,358,327
Creditors: amounts falling due within one year	7	( 3,378,563)		( 3,132,243)
Net current assets		1,014,041		226,084
Total assets less current liabilities		3,366,436		2,251,517
Creditors: amounts falling due after more than one year	8	( 2,594,432)		( 1,018,517)
Provision for liabilities		0		( 102,563)
Net assets		772,004		1,130,437
Capital and reserves
Called-up share capital		100		100
Profit and loss account		771,904		1,130,337
Total shareholders' funds		772,004		1,130,437

For the financial year ending 31 March 2025 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Quadris Limited (registered number: 09515944) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

G Young Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Quadris Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Innovation House 12-13 Bredbury Business Park, Bredbury Park Way, Stockport, SK6 2SN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Prior year adjustment

Where the company identifies classification or presentation errors in previously issued financial statements, comparative amounts are restated to ensure consistency with the current year’s presentation. These restatements do not affect the previously reported profit, net assets or equity. As the adjustments relate solely to reclassification of items within the financial statements, no adjustment to opening reserves has been required.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
* the Company has transferred the significant risks and rewards of ownership to the buyer;
* the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the transaction; and
* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software	5 years straight line
Website costs	5 years straight line
Other intangible assets	5 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Office equipment	3 years straight line
Computer equipment	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Prior year adjustment

During the year the company identified a prior year misclassification of deferred income between amounts due within one year and amounts due after more than one year. The total deferred income balance was stated correctly, but £968,517 was incorrectly classified as due within one year when it should have been presented as a non-current liability. The directors have also identified that commissions receivable of £708,167 which should have been included in sales had been included in administrative expenditure.

The comparative figures have been restated to reflect the correct allocations. There is no impact on profit, net assets, or total equity.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	50		48

4. Intangible assets

	Computer software		Website costs		Other intangible assets		Total
	£		£		£		£
Cost
At 01 April 2024	1,628,972		8,867		0		1,637,839
Additions	129,504		0		632,981		762,485
At 31 March 2025	1,758,476		8,867		632,981		2,400,324
Accumulated amortisation
At 01 April 2024	248,928		5,319		0		254,247
Charge for the financial year	339,967		1,774		0		341,741
At 31 March 2025	588,895		7,093		0		595,988
Net book value
At 31 March 2025	1,169,581		1,774		632,981		1,804,336
At 31 March 2024	1,380,044		3,548		0		1,383,592

5. Tangible assets

	Land and buildings		Office equipment		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	241,502		71,872		674,782		988,156
Additions	0		1,193		66,844		68,037
At 31 March 2025	241,502		73,065		741,626		1,056,193
Accumulated depreciation
At 01 April 2024	25,750		16,739		303,826		346,315
Charge for the financial year	4,830		8,384		148,605		161,819
At 31 March 2025	30,580		25,123		452,431		508,134
Net book value
At 31 March 2025	210,922		47,942		289,195		548,059
At 31 March 2024	215,752		55,133		370,956		641,841

6. Debtors

	2025		2024
	£		£
Trade debtors	1,751,431		1,157,662
Amounts owed by directors	0		2,000
Prepayments and accrued income	259,563		239,142
Other debtors	4,389		0
	2,015,383		1,398,804

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		30,000
Trade creditors	548,135		488,390
Accruals and deferred income	2,593,415		2,427,329
Other taxation and social security	199,359		145,319
Other creditors	37,654		41,205
	3,378,563		3,132,243

The deferred income at 31 March 2024 has been restated, please refer to note 2 for further details of the restatement.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		50,000
Deferred income	2,594,432		968,517
	2,594,432		1,018,517

There are no amounts included above in respect of which any security has been given by the small entity.

The deferred income at 31 March 2024 has been restated, please refer to note 2 for further details of the restatement.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	48,213		51,727
between one and five years	19,434		21,553
Total future minimum lease payments under non-cancellable operating leases	67,647		73,280

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	22,367		19,382

10. Related party transactions

At the year end a director owed the company £nil (2024: £2,000) which is included within debtors, amounts owed by directors.

11. Ultimate controlling party

The overall controlling party is Mr G Young who owns 60% of the called up share capital of the company.