Quantum Cool R&A LLP - Accounts to registrar (filleted) - small 18.2

Quantum Cool R&A LLP - Accounts to registrar (filleted) - small 18.2

QUANTUM GROUP RENEWABLES LLP - Company Information

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IRIS Accounts Production v20.3.4.1 OC329373 designated member 1.3.19 29.2.20 29.2.20 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3293732019-02-28OC3293732020-02-29OC3293732019-03-012020-02-29OC3293732018-02-28OC3293732018-03-012019-02-28OC3293732019-02-28OC329373ns16:EnglandWales2019-03-012020-02-29OC329373ns15:PoundSterling2019-03-012020-02-29OC329373ns11:Director12019-03-012020-02-29OC329373ns11:LimitedLiabilityPartnershipLLP2019-03-012020-02-29OC329373ns11:SmallEntities2019-03-012020-02-29OC329373ns11:AuditExempt-NoAccountantsReport2019-03-012020-02-29OC329373ns11:SmallCompaniesRegimeForAccounts2019-03-012020-02-29OC329373ns11:LimitedLiabilityPartnershipsSORP2019-03-012020-02-29OC329373ns11:AbridgedAccounts2019-03-012020-02-29OC329373ns6:CurrentFinancialInstruments2020-02-29OC329373ns6:CurrentFinancialInstruments2019-02-28OC329373ns6:Non-currentFinancialInstruments2020-02-29OC329373ns6:Non-currentFinancialInstruments2019-02-28OC329373ns6:FurnitureFittings2019-03-012020-02-29OC329373ns6:MotorVehicles2019-03-012020-02-29OC329373ns6:ComputerEquipment2019-03-012020-02-29


REGISTERED NUMBER: OC329373 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29th February 2020

for

Quantum Cooling Dispense, Refrigeration
& Air Conditioning Services LLP
Quantum Cooling Dispense, Refrigeration
& Air Conditioning Services LLP (Registered number: OC329373)






Contents of the Financial Statements
for the Year Ended 29th February 2020




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Quantum Cooling Dispense, Refrigeration
& Air Conditioning Services LLP (Registered number: OC329373)

Abridged Balance Sheet
29th February 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 14,267 13,011
Investments 6 83,226 -
97,493 13,011

CURRENT ASSETS
Stocks 62,683 56,221
Debtors 132,562 323,381
Cash at bank and in hand 18,289 16,329
213,534 395,931
CREDITORS
Amounts falling due within one year 142,129 180,924
NET CURRENT ASSETS 71,405 215,007
TOTAL ASSETS LESS CURRENT
LIABILITIES
168,898
228,018

CREDITORS
Amounts falling due after more than one year - 5,452
NET ASSETS ATTRIBUTABLE TO
MEMBERS
168,898
222,566

LOANS AND OTHER DEBTS DUE TO
MEMBERS
-
-

MEMBERS' OTHER INTERESTS
Capital accounts 168,898 222,566
168,898 222,566

TOTAL MEMBERS' INTERESTS
Members' other interests 168,898 222,566

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 29th February 2020.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The notes form part of these financial statements

Page 1 continued...
Quantum Cooling Dispense, Refrigeration
& Air Conditioning Services LLP (Registered number: OC329373)

Abridged Balance Sheet - continued
29th February 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29th February 2020 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 19th January 2021 and were signed by:





Mrs M R Gonella - Designated member

The notes form part of these financial statements

Page 2
Quantum Cooling Dispense, Refrigeration
& Air Conditioning Services LLP (Registered number: OC329373)

Notes to the Financial Statements
for the Year Ended 29th February 2020

1. STATUTORY INFORMATION

Quantum Cooling Dispense, Refrigeration & Air Conditioning Services LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC329373

Registered office: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Page 3 continued...
Quantum Cooling Dispense, Refrigeration
& Air Conditioning Services LLP (Registered number: OC329373)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2020

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 20 (2019 - 20 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st March 2019 126,885
Additions 8,620
At 29th February 2020 135,505
DEPRECIATION
At 1st March 2019 113,874
Charge for year 7,364
At 29th February 2020 121,238
NET BOOK VALUE
At 29th February 2020 14,267
At 28th February 2019 13,011

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st March 2019
and 29th February 2020 53,355
DEPRECIATION
At 1st March 2019 44,214
Charge for year 2,286
At 29th February 2020 46,500
NET BOOK VALUE
At 29th February 2020 6,855
At 28th February 2019 9,141

6. FIXED ASSET INVESTMENTS

The amount included as fixed asset investment represents the LLP's capital account outstanding as at the balance sheet date in Quantum Cooling Dispense and Refrigeration Services LLP.

7. RELATED PARTY DISCLOSURES

During the year under review, the company has been a corporate partner in Quantum Cooling Dispense & Refrigeration Services LLP. As at the balance sheet date, the unlisted fixed asset investment of £83,226 (2019: £nil) is made up of the capital account balances that the company has in the LLP.

Page 4 continued...
Quantum Cooling Dispense, Refrigeration
& Air Conditioning Services LLP (Registered number: OC329373)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2020

8. ULTIMATE CONTROLLING PARTY

During the year, the ultimate controlling party was Mr C Gonella and Mrs M R Gonella by virtue of having control of the designated members.

Page 5