London Quant Limited Filleted accounts for Companies House (small and micro)

LONDON QUANT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06304522

London Quant Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 October 2018

London Quant Limited

Company Limited by Guarantee

Statement of Financial Position

31 October 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		1	1

Current assets

Debtors	6	–	893
Cash at bank and in hand		50,151	62,397
		--------	--------
		50,151	63,290

Creditors: amounts falling due within one year	7	( 14,310)		( 18,442)
		--------		--------
Net current assets			35,841	44,848
			--------	--------
Total assets less current liabilities			35,842	44,849
			--------	--------
Net assets			35,842	44,849
			--------	--------

Capital and reserves

Profit and loss account	35,842	44,849
	--------	--------
Members funds	35,842	44,849
	--------	--------

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 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 income and retained earnings has not been delivered.

For the year ending 31 October 2018 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 .

London Quant Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 October 2018

These financial statements were approved by the board of directors and authorised for issue on 22 May 2019 , and are signed on behalf of the board by:

Mr J E Fishwick

Director

Company registration number: 06304522

London Quant Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 October 2018

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is PO Box 501, The Nexus Building, Broadway, Letchworth, Herts, SG6 9BL.

2. Statement of compliance

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

Revenue recognition

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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

	Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Company limited by guarantee

Every member of the Company undertakes to contribute to the assets of the Company, in the event of its being wound up while he is a member, or within one year after he ceases to be a member, for pay payment of the debts and liabilities of the Company contracted before he ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of the rights of contributories among themselves, such amount as may be required not exceeding £1. The company attempts to maintain adequate reserves in the event of poor attendance of members, to cover the costs of forthcomming conferences.

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 November 2017 and 31 October 2018	3,750	3,750
	-------	-------
Depreciation
At 1 November 2017 and 31 October 2018	3,749	3,749
	-------	-------
Carrying amount
At 31 October 2018	1	1
	-------	-------
At 31 October 2017	1	1
	-------	-------

6. Debtors

	2018	2017
	£	£
Other debtors	–	893
	----	----

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	11,999	16,999
Social security and other taxes	867	–
Other creditors	1,444	1,443
	--------	--------
	14,310	18,442
	--------	--------