Loqus UK Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06950202 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

LOQUS UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J A F Conti

N J Rendell

REGISTERED OFFICE:

The Apex

Sheriffs Orchard

Coventry

CV1 3PP

REGISTERED NUMBER:

06950202 (England and Wales)

INDEPENDENT AUDITORS:

Wem & Co

Chartered Accountants & Statutory Auditors

Savoy House

Savoy Circus

London

W3 7DA

FIXED ASSETS

Investments

4

1,199,542

-

CURRENT ASSETS

Debtors

5

405,134

8,142

Cash at bank

852

440

405,986

8,582

CREDITORS

Amounts falling due within one year

6

558,064

600

NET CURRENT (LIABILITIES)/ASSETS

(152,078

)

7,982

TOTAL ASSETS LESS CURRENT LIABILITIES

1,047,464

7,982

CREDITORS

Amounts falling due after more than one year

7

34,089

31,839

NET ASSETS/(LIABILITIES)

1,013,375

(23,857

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,013,374

(23,858

)

1,013,375

(23,857

)

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

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 1 July 2021 and were signed on its behalf by:

J A F Conti - Director

1.	STATUTORY INFORMATION

Loqus UK Ltd 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.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Management has considered the consequences of COVID-19 and other events and conditions, and it has determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.

Preparation of consolidated financial statements

The financial statements contain information about Loqus UK Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Loqus Holdings PLC, SUB008A, Industrial Estate, San Gwann SGN 3000, Malta..

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1,199,542

At 30 June 2020

1,199,542

NET BOOK VALUE

At 30 June 2020

1,199,542

5.

DEBTORS

30.6.20

30.6.19

(Unaudited)

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

395,901

-

Amounts falling due after more than one year:

Amounts owed by associates

9,233

8,142

Aggregate amounts

405,134

8,142

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

(Unaudited)

£

£

Amounts owed to associates

5,985

-

Other creditors

552,079

600

558,064

600

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.20

30.6.19

(Unaudited)

£

£

Amounts owed to associates

34,089

31,839

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alistair I Wem BSc FCA (Senior Statutory Auditor)

for and on behalf of Wem & Co

9.	ULTIMATE CONTROLLING PARTY

Loqus Holdings P.LC. is the parent of the smallest group for which consolidated financial statements are drawn up of which Loqus UK Ltd is a member, and is located at SUB008A, Industrial Estate, San Gwann SGN 3000, Malta.

10.

DEBENTURE

S M Stillwell has a fixed and floating charge over all the property and undertaking of the company.