ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-09-302021-09-30trueNo description of principal activity2020-10-01false44falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10386454 2020-10-01 2021-09-30 10386454 2021-09-30 10386454 2019-10-01 2020-09-30 10386454 2020-09-30 10386454 c:Director1 2020-10-01 2021-09-30 10386454 d:MotorVehicles 2020-10-01 2021-09-30 10386454 d:MotorVehicles 2021-09-30 10386454 d:MotorVehicles 2020-09-30 10386454 d:MotorVehicles d:OwnedOrFreeholdAssets 2020-10-01 2021-09-30 10386454 d:FreeholdInvestmentProperty 2020-10-01 2021-09-30 10386454 d:FreeholdInvestmentProperty 2021-09-30 10386454 d:CurrentFinancialInstruments 2021-09-30 10386454 d:CurrentFinancialInstruments 2020-09-30 10386454 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 10386454 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 10386454 d:ShareCapital 2021-09-30 10386454 d:ShareCapital 2020-09-30 10386454 d:RetainedEarningsAccumulatedLosses 2021-09-30 10386454 d:RetainedEarningsAccumulatedLosses 2020-09-30 10386454 c:FRS102 2020-10-01 2021-09-30 10386454 c:AuditExempt-NoAccountantsReport 2020-10-01 2021-09-30 10386454 c:FullAccounts 2020-10-01 2021-09-30 10386454 c:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 10386454 2 2020-10-01 2021-09-30 iso4217:GBP xbrli:pure

Company registration number: 10386454

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 SEPTEMBER 2021

	QUADRELOM LIMITED


QUADRELOM LIMITED REGISTERED NUMBER:10386454

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		19,762		-
Investment property	5		6,000		-
			25,762		-
Current assets
Stocks		14,773		1,289,613
Debtors: amounts falling due within one year	6	206,118		-
Cash at bank and in hand		1,379,168		2,496
		1,600,059		1,292,109
Creditors: amounts falling due within one year	7	(1,102,477)		(1,432,770)
Net current assets/(liabilities)			497,582		(140,661)
Total assets less current liabilities			523,344		(140,661)

Net assets/(liabilities)			523,344		(140,661)

Capital and reserves
Called up share capital	100	100
Profit and loss account	523,244	(140,761)
	523,344	(140,661)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J G Mole

Director

Date: 17 June 2022

The notes on pages 3 to 7 form part of these financial statements.

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QUADRELOM LIMITED REGISTERED NUMBER:10386454

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 2021

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QUADRELOM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.	General information

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

Quadrelom Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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QUADRELOM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles

25%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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QUADRELOM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

2.10

Financial instruments (continued)

2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).

4.	Tangible fixed assets

		Motor vehicles
		£
	Cost or valuation
	Additions	45,844
	Disposals	(24,764)
	At 30 September 2021	21,080
	Depreciation
	Charge for the year on owned assets	1,318
	At 30 September 2021	1,318
	Net book value
	At 30 September 2021	19,762
	At 30 September 2020	-

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QUADRELOM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

5.	Investment property

		Freehold investment property
		£
	Valuation
	Additions at cost	6,000
	At 30 September 2021	6,000

The 2021 valuations were made by the directors, on an open market value for existing use basis.

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QUADRELOM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Debtors

					2021
					£


	Other debtors	206,118
		206,118

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank loans	-	649,997
Corporation tax	240,297	-
Other taxation and social security	5,011	2,285
Other creditors	853,619	777,763
Accruals and deferred income	3,550	2,725
	1,102,477	1,432,770

8.	Related party transactions
	At the year end, the company owed £502,000 (2020 - £502,000) to Macestep Limited, a company in which the directors parents are officers and 54% shareholders and £351,224 (2020 - £269,600) owed to RG Mole & Co Limited, a company which has the same directors/shareholders.

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