Quiddi Hub Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07475476 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2018

for

Quiddi Hub Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

A Evans

R J Gottlieb

P J E Snelgar

Registered office:

Forge & Co

154-158 Shoreditch High Street

London

E1 6HU

Registered number:

07475476 (England and Wales)

Accountants:

Raedan

7-8 Henrietta Street

Covent Garden

London

WC2E 8PS

Fixed assets

Tangible assets

4

4,494

5,276

Current assets

Debtors

5

305,205

1,147,036

Cash at bank and in hand

45,637

13,019

350,842

1,160,055

Creditors

Amounts falling due within one year

6

(3,870,854

)

(3,064,183

)

Net current liabilities

(3,520,012

)

(1,904,128

)

Total assets less current liabilities

(3,515,518

)

(1,898,852

)

Capital and reserves

Called up share capital

102

102

Retained earnings

(3,515,620

)

(1,898,954

)

(3,515,518

)

(1,898,852

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 March 2019 and were signed on its behalf by:

A Evans - Director

1.	Statutory information

Quiddi Hub Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 5 (2017 - NIL ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 July 2017

55,986

Additions

5,979

Disposals

(12,509

)

At 30 June 2018

49,456

Depreciation

At 1 July 2017

50,710

Charge for year

2,627

Eliminated on disposal

(8,375

)

At 30 June 2018

44,962

Net book value

At 30 June 2018

4,494

At 30 June 2017

5,276

5.

Debtors: amounts falling due within one year

30.6.18

30.6.17

£

£

Trade debtors

15,632

49,513

Amounts owed by group undertakings

259,809

1,011,860

Other debtors

29,764

85,663

305,205

1,147,036

6.

Creditors: amounts falling due within one year

30.6.18

30.6.17

£

£

Bank loans and overdrafts

67

-

Trade creditors

27,922

9,003

Amounts owed to group undertakings

3,823,464

3,020,718

Taxation and social security

625

32,302

Other creditors

18,776

2,160

3,870,854

3,064,183

7.	Related party disclosures

As at 30 June 2018 the Company had an amount due from Quiddi Limited, a Company with common

ownership, of £Nil (2017: £915,632), this amount arose from expenses incurred by Quiddi Hub

Limited on behalf of Quiddi Limited.

Quiddi Hub Limited also had a loan account balance due to Quiddi Limited of £Nil (2017:

£25,000).

Quiddi Hub Limited also had an amount due from Techkredit Limited, a Company with common

ownership, of £Nil (2017: £195,338), this amount arose from leads supplied to Techkredit Limited.

Quiddi Hub Limited also had an amount due from Fuzibox Limited, a Company with common

ownership, of £Nil (2017: £116,594), this amount arose from expenses incurred by Quiddi Hub

Limited on behalf of Fuzibox Limited.

Quiddi Hub Limited also had a loan account balance due to Techkredit Limited of £Nil (2017:

£191,032).

Quiddi Hub Limited also had an outstanding loan account due to QV Holdco Limited. The total

amount outstanding at 30 June 2017 was £3,823,464 (2017:£3,020,717).

8.	Ultimate controlling party

The Company is a wholly owned subsidiary of QV Holdco Limited, a Company incorporated in the UK

with company number, 09085516. QV Holdco Limited is itself a wholly owned subsidiary of CV5

Limited, a company incorporated in the British Virgin Isles.