QUINTICAL LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08521380 (England and Wales)

Unaudited Financial Statements

for the Period 1 May 2019 to 30 September 2019

for

QUINTICAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Chesney

REGISTERED OFFICE:

20-22 Wenlock Road

London

N1 7GU

REGISTERED NUMBER:

08521380 (England and Wales)

FIXED ASSETS

Intangible assets

3

34,804

42,151

Tangible assets

4

16,134

16,576

50,938

58,727

CURRENT ASSETS

Debtors

5

623,682

704,424

Cash at bank

27,541

227,505

651,223

931,929

CREDITORS

Amounts falling due within one year

6

187,787

310,944

NET CURRENT ASSETS

463,436

620,985

TOTAL ASSETS LESS CURRENT LIABILITIES

514,374

679,712

CREDITORS

Amounts falling due after more than one year

7

1,972,009

1,591,809

NET LIABILITIES

(1,457,635

)

(912,097

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Capital contributions

10

1,534,685

1,534,685

Retained earnings

10

(2,992,321

)

(2,446,783

)

SHAREHOLDERS' FUNDS

(1,457,635

)

(912,097

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 2 April 2020 and were signed by:

A Chesney - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 period 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 period 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.

Going concern

These financial statements have been prepared on a going concern basis.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2019 - 9 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2019

and 30 September 2019

88,168

AMORTISATION

At 1 May 2019

46,017

Amortisation for period

7,347

At 30 September 2019

53,364

NET BOOK VALUE

At 30 September 2019

34,804

At 30 April 2019

42,151

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2019

30,430

Additions

1,434

At 30 September 2019

31,864

DEPRECIATION

At 1 May 2019

13,854

Charge for period

1,876

At 30 September 2019

15,730

NET BOOK VALUE

At 30 September 2019

16,134

At 30 April 2019

16,576

5.

DEBTORS

30.9.19

30.4.19

£

£

Amounts falling due within one year:

Trade debtors

-

28,452

Other debtors

103,808

220,256

Directors' current accounts

53,878

-

VAT

13,031

2,751

170,717

251,459

Amounts falling due after more than one year:

Other debtors

452,965

452,965

Aggregate amounts

623,682

704,424

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.4.19

£

£

Bank loans and overdrafts (see note 8)

-

767

Trade creditors

58,450

65,670

Social security and other taxes

34,115

119,287

Other creditors

(2,163

)

(33,602

)

Loans

56,459

147,222

Accruals and deferred income

40,926

11,600

187,787

310,944

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.4.19

£

£

Amounts owed to group undertakings

1,972,009

1,591,809

8.

LOANS

An analysis of the maturity of loans is given below:

30.9.19

30.4.19

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

767

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.4.19

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

Capital

earnings

contributions

Totals

£

£

£

At 1 May 2019

(2,446,783

)

1,534,685

(912,098

)

Deficit for the period

(545,538

)

(545,538

)

At 30 September 2019

(2,992,321

)

1,534,685

(1,457,636

)