Company Registration No. 07834052 (England and Wales)
Qredo Ltd
Unaudited accounts
for the period from 1 November 2019 to 30 June 2020
Qredo Ltd
Unaudited accounts
Contents
Qredo Ltd
Company Information
for the period from 1 November 2019 to 30 June 2020
Directors
Brian Spector
Brad Anthony Foy
Rui Zhang
Company Number
07834052 (England and Wales)
Registered Office
Kemp House 152-160
City Road
Islington
London
EC1V 2NX
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Qredo Ltd
Statement of financial position
as at 30 June 2020
Tangible assets
49,802
7,290
Cash at bank and in hand
570,291
151,983
Creditors: amounts falling due within one year
(326,539)
(231,324)
Net current assets/(liabilities)
323,982
(37,465)
Net assets/(liabilities)
373,784
(30,175)
Called up share capital
322,060
223,495
Share premium
7,460,826
5,493,179
Profit and loss account
(7,409,102)
(5,746,849)
Shareholders' funds
373,784
(30,175)
For the period ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2020 and were signed on its behalf by
Brad Anthony Foy
Director
Company Registration No. 07834052
Qredo Ltd
Notes to the Accounts
for the period from 1 November 2019 to 30 June 2020
Qredo Ltd is a private company, limited by shares, registered in England and Wales, registration number 07834052. The registered office is Kemp House 152-160, City Road, Islington, London, EC1V 2NX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line Basis
Computer equipment
25% Straight Line Basis
Research and development:
Expenditure on research and development is written off in the year in which it is incurred.
Research and development tax credit:
During the financial period, Qredo Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Income Statement in line with disclosure requirements under FRS 102.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Qredo Ltd
Notes to the Accounts
for the period from 1 November 2019 to 30 June 2020
4
Tangible fixed assets
Total
Charge for the period
3,815
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
6
Average number of employees
During the period the average number of employees was 12 (2019: 6).
