Registration number:
Quotech Ltd
for the Year Ended 31 March 2026
Quotech Ltd
Contents
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Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Quotech Ltd
Company Information
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Directors |
G Bonnissent H S K Knowles K J Lyles |
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Registered office |
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Quotech Ltd
(Registration number: 12384580)
Balance Sheet as at 31 March 2026
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Note |
2026 |
2025 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Share premium reserve |
2,149,997 |
2,149,997 |
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Other reserves |
78,976 |
38,219 |
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Retained earnings |
(1,586,180) |
(1,546,271) |
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Shareholders' funds |
642,795 |
641,947 |
For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Quotech Ltd
(Registration number: 12384580)
Balance Sheet as at 31 March 2026
Approved and authorised by the
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Quotech Ltd
Statement of Changes in Equity for the Year Ended 31 March 2026
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Share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
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At 1 April 2025 |
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( |
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Loss for the year |
- |
- |
- |
( |
( |
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Equity-settled share-based payment credit |
- |
- |
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- |
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Total comprehensive income |
- |
- |
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( |
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At 31 March 2026 |
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( |
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Share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
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At 1 April 2024 |
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( |
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Profit for the year |
- |
- |
- |
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Equity-settled share-based payment credit |
- |
- |
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- |
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Total comprehensive income |
- |
- |
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At 31 March 2025 |
2 |
2,149,997 |
38,219 |
(1,546,271) |
641,947 |
Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Revenue from services is recognised by reference to the stage of completion at the reporting date where the outcome can be estimated reliably. Subscription income is recognised over the period to which access to the service relates. Amounts invoiced in advance of the related services being provided are recognised as deferred income.
Government grants
Government grants relating to the National Insurance Employmet Allowance are accounted for when used and matched to Employer National Insurance amounts due.
Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred 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 income 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 in respect of timing differences originating but not reversed at the reporting date, subject to the recognition requirements of FRS 102. Deferred tax assets, including those relating to unrelieved tax losses, are recognised only to the extent that their recovery against reversing deferred tax liabilities or future taxable profits is probable. Deferred tax is measured using enacted or substantively enacted tax rates expected to apply when the timing differences reverse.
The tax credit recognised in the year includes £119,095 relating to the Company’s R&D claim for the year ended 31 March 2024, received on 11 July 2025.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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:
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Asset class |
Depreciation method and rate |
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Office Equipment |
Straight line 5 Years |
Development costs
Research and development expenditure is charged to profit or loss as incurred.
Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Trade creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
Share based payments
The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.
The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2025 |
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Additions |
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At 31 March 2026 |
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Depreciation |
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At 1 April 2025 |
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Charge for the year |
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At 31 March 2026 |
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Carrying amount |
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At 31 March 2026 |
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At 31 March 2025 |
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Debtors |
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Current |
2026 |
2025 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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Creditors |
Creditors: amounts falling due within one year
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Note |
2026 |
2025 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2026 |
2025 |
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Due after one year |
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Loans and borrowings |
- |
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Share capital |
Allotted, called up and fully paid shares
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2026 |
2025 |
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No. |
£ |
No. |
£ |
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1.59 |
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1.59 |
Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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Reserves |
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The share premium account represents the premium on allotment of shares and is not available for distribution.
The retained earnings represents total income and expense in the current and prior years attributable to equity holders, less, for example cumulative dividends to shareholders.
Other reserves represents the share-based payment reserve, which arises as the expense of issuing share-based payments is recognised over time.
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Loans and borrowings |
Non-current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
- |
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Other borrowings |
- |
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- |
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Current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
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Other borrowings |
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Bank borrowings
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Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
Other borrowings
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Funding Circle Loan is denominated in GBP with a nominal interest rate of 17.80%, and the final instalment is due on 30 September 2026. The carrying amount at year end is £26,717 (2025 - £76,941). The Funding Circle loan is secured by a personal guarantee from Mr G Bonnissent. |
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Related party transactions |
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Transactions with directors |
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2026 |
At 1 April 2025 |
Repayments by director |
At 31 March 2026 |
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Interest-free loan, repayable on demand |
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( |
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2025 |
At 1 April 2024 |
Advances to director |
Repayments by director |
At 31 March 2025 |
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Interest-free loan, repayable on demand |
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( |
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Quotech Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
11 Share-based payment
During this year, certain employees were granted options to subscribe for shares in the Company, under a share option scheme, as follows:
• 55 options were granted 20/06/2025
• 55 options were granted 20/06/2025
• 100 options were granted 20/06/2025
• 100 options were granted 20/06/2025
• 100 options were granted 22/06/2025
• 100 options were granted 23/06/2025
The total share-based payment charge recognised by the Company for the year ending 31 March 2026 is £40,757 (2025: £9,114). The fair value of options granted has been estimated using a Black Scholes model. The expected volatility is assessed by reference to historic volatility of comparable corporate shares.
The following assumptions have been used:
Option life: 4 years
Risk-free rate: 4.023%
Volatility: 100%
Dividend yield: nil