Quatreus Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05230316 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Quatreus Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R J T Edwards

Mr B P Hutchinson

Mr J L Hazelwood

REGISTERED OFFICE:

4 Cedar Park Cobham Road

Ferndown Industrial Estate

Wimborne Minster

Dorset

BH21 7SF

REGISTERED NUMBER:

05230316 (England and Wales)

ACCOUNTANTS:

Ward Goodman

4 Cedar Park

Cobham Road

Ferndown Industrial Estate

Wimborne

Dorset

BH21 7SF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,197

6,929

5,197

6,929

CURRENT ASSETS

Stocks

18,855

19,808

Debtors

376,544

169,502

Prepayments and accrued income

3,934

3,252

Cash at bank and in hand

631,073

699,044

1,030,406

891,606

CREDITORS

Amounts falling due within one year

598,920

512,932

NET CURRENT ASSETS

431,486

378,674

TOTAL ASSETS LESS CURRENT LIABILITIES

436,683

385,603

CREDITORS

Amounts falling due after more than one year

6

-

(46,667

)

ACCRUALS AND DEFERRED INCOME

(19,906

)

(21,156

)

NET ASSETS

416,777

317,780

CAPITAL AND RESERVES

Called up share capital

1,140

1,140

Capital redemption reserve

760

760

Retained earnings

414,877

315,880

SHAREHOLDERS' FUNDS

416,777

317,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2022 and were signed on its behalf by:

Mr R J T Edwards - Director

1.	STATUTORY INFORMATION

Quatreus Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of QUATREUS LIMITED is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income over its useful economic life

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is charged so as to allocate the cost of assets less their residual value over heir estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery - 25%

Fixtures & fittings - 25%

Office equipment - 25%

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

and 31 March 2022

310,335

AMORTISATION

At 1 April 2021

and 31 March 2022

310,335

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

and 31 March 2022

20,667

DEPRECIATION

At 1 April 2021

13,738

Charge for year

1,732

At 31 March 2022

15,470

NET BOOK VALUE

At 31 March 2022

5,197

At 31 March 2021

6,929

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2022

2021

£

£

Repayable by instalments

Bank loans more 5 yr by instal

-

6,667

7.

LOANS

An analysis of the maturity of loans is given below:

2022

2021

£

£

Amounts falling due within one year or on demand:

Bank loans

-

3,333

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

40,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,667

8.	RELATED PARTY DISCLOSURES

Vucanvas Limited

A Company in which Mr R Edwards has common control.

Amount due to Quatreus Limited at the balance sheet date was £Nil (2021: £16,340).

During the year, the company charged management fees of £Nil (2021: £16,340). All amounts were calculated and charged at usual rates.

9.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £43,912 (2021 - £28,110). Contributions totalling £1,213 (2021 - £802) were payable to the fund at the balance sheet date and are included in creditors.