ACCOUNTS - Final Accounts preparation

QUIDDITY HEALTH LTD - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falseNo description of principal activity136falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12303803 2021-01-01 2021-12-31 12303803 2020-01-01 2020-12-31 12303803 2021-12-31 12303803 2020-12-31 12303803 c:Director2 2021-01-01 2021-12-31 12303803 d:OfficeEquipment 2021-01-01 2021-12-31 12303803 d:OfficeEquipment 2021-12-31 12303803 d:OfficeEquipment 2020-12-31 12303803 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 12303803 d:CurrentFinancialInstruments 2021-12-31 12303803 d:CurrentFinancialInstruments 2020-12-31 12303803 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12303803 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 12303803 d:ShareCapital 2021-12-31 12303803 d:ShareCapital 2020-12-31 12303803 d:RetainedEarningsAccumulatedLosses 2021-12-31 12303803 d:RetainedEarningsAccumulatedLosses 2020-12-31 12303803 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 12303803 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 12303803 c:OrdinaryShareClass1 2021-01-01 2021-12-31 12303803 c:OrdinaryShareClass1 2021-12-31 12303803 c:OrdinaryShareClass1 2020-12-31 12303803 c:OrdinaryShareClass2 2021-01-01 2021-12-31 12303803 c:OrdinaryShareClass2 2021-12-31 12303803 c:OrdinaryShareClass2 2020-12-31 12303803 c:OrdinaryShareClass3 2021-01-01 2021-12-31 12303803 c:OrdinaryShareClass3 2021-12-31 12303803 c:OrdinaryShareClass3 2020-12-31 12303803 c:FRS102 2021-01-01 2021-12-31 12303803 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 12303803 c:FullAccounts 2021-01-01 2021-12-31 12303803 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12303803

QUIDDITY HEALTH LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

QUIDDITY HEALTH LTD

REGISTERED NUMBER: 12303803

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		6,971		5,070
			6,971		5,070
Current assets
Debtors: amounts falling due within one year	5	41,474		23,979
Cash at bank and in hand	6	38,114		37,953
		79,588		61,932
Creditors: amounts falling due within one year	7	(142,372)		(65,391)
Net current liabilities			(62,784)		(3,459)
Total assets less current liabilities			(55,813)		1,611

Net (liabilities)/assets			(55,813)		1,611

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		(55,913)	1,511
		(55,813)	1,611

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QUIDDITY HEALTH LTD

REGISTERED NUMBER: 12303803

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2021

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 on 26 September 2022.

G Matthews

Director

The notes on pages 3 to 8 form part of these financial statements.

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QUIDDITY HEALTH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Quiddity Health Limited. Company Registration:12303803 A company incorporated in England and Wales.
Registered office address: 5 Piccadilly Place, Manchester, Greater Manchester, England, M1 3BR.
The principal activity of the company is that of information technology consultancy activities.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

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.

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QUIDDITY HEALTH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

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 balance sheet 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, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25%

reducing balance

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.

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QUIDDITY HEALTH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

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.

2.12

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 13 (2020 - 6).

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QUIDDITY HEALTH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2021	6,018
	Additions	3,747
	At 31 December 2021	9,765
	Depreciation
	At 1 January 2021	947
	Charge for the year on owned assets	1,847
	At 31 December 2021	2,794
	Net book value
	At 31 December 2021	6,971

Debtors

					2021	2020
					£	£


Trade debtors	38,866	23,979
Other debtors	158	-
Prepayments and accrued income	2,450	-
	41,474	23,979

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	38,114	37,953
	38,114	37,953

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QUIDDITY HEALTH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

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

Trade creditors	22,824	5,263
Corporation tax	-	9,638
Other taxation and social security	10,009	11,877
Other creditors	109,539	38,613
	142,372	65,391

8.	Financial instruments
		2021	2020
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	38,114	37,953

Financial assets measured at fair value through profit or loss comprise; Cash at bank and in hand

9.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

100 (2020 - 100) Ordinary shares of £1.000 each	100	100
100 (2020 - 100) A Ordinary shares of £0.001 each	-	-
100 (2020 - 100) B Ordinary shares of £0.001 each	-	-

	100	100

During the year the company issued 100 A Ordinary shares of 0.1p and 100 B Ordinary share of 0.1p at par.

10.	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 £5,280 (2020 - £1,010).
Contributions totalling £2,133 (2020 - £759) were payable to the fund at the balance sheet date and are included in creditors.

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QUIDDITY HEALTH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

11.	Related party transactions
	The directors of the company, Gavin Matthews and Samuel Holland, have advanced funds to the company, interest free and unsecured. Details of the balance are set out below and disclosed within Other Creditors; Amounts falling due within one year.

		2021	2020
		£	£

Gavin Matthews	102,133	22,133
Samuel Holland	5,273	5,273
	107,406	27,406

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