ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

QUANTUM 4 (HOLDINGS) LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2021-03-31The immediate and ultimate parent undertaking is Independent Retail Design Group Limited, whose registered office is 15 The Point, Rockingham Road, Market Harborough, Leicestershire, LE16 7QU.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 ("FRS 102"), the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).The following principal accounting policies have been applied:Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; andAny deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.2021-03-31The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.The following judgements have had the most significant effect on the amounts recognised in the financial statements:(a) Carrying value of fixed asset investmentsInvestments in subsidiary undertakings are stated at cost, less any provision for impairment. Investments are tested for impairment annually by comparing the carrying value of the investments on the balance sheet against the investment's recoverable value. The recoverable value of an investment is assessed by management using a multiple of average forecast EBITDA. Where the carrying value of an investment is not fully supported by this assessment, a provision is recorded to impair the carrying value to its recoverable value.07880916The Company is controlled by I P McKeever, by virtue of his controliing interest of the ultimate parent undertaking, Independent Retail Design Group Limited.false2020-04-01Holding company44truetrue 07880916 2020-04-01 2021-03-31 07880916 2019-04-01 2020-03-31 07880916 2021-03-31 07880916 2020-03-31 07880916 2019-04-01 07880916 c:Director4 2020-04-01 2021-03-31 07880916 d:CurrentFinancialInstruments 2021-03-31 07880916 d:CurrentFinancialInstruments 2020-03-31 07880916 d:Non-currentFinancialInstruments 2021-03-31 07880916 d:Non-currentFinancialInstruments 2020-03-31 07880916 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 07880916 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 07880916 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 07880916 d:Non-currentFinancialInstruments d:AfterOneYear 2020-03-31 07880916 d:ShareCapital 2021-03-31 07880916 d:ShareCapital 2020-03-31 07880916 d:RetainedEarningsAccumulatedLosses 2020-04-01 2021-03-31 07880916 d:RetainedEarningsAccumulatedLosses 2021-03-31 07880916 d:RetainedEarningsAccumulatedLosses 2020-03-31 07880916 c:OrdinaryShareClass1 2020-04-01 2021-03-31 07880916 c:OrdinaryShareClass1 2019-04-01 2020-03-31 07880916 c:OrdinaryShareClass1 2021-03-31 07880916 c:OrdinaryShareClass2 2020-04-01 2021-03-31 07880916 c:OrdinaryShareClass2 2019-04-01 2020-03-31 07880916 c:OrdinaryShareClass2 2021-03-31 07880916 c:OrdinaryShareClass3 2020-04-01 2021-03-31 07880916 c:OrdinaryShareClass3 2019-04-01 2020-03-31 07880916 c:OrdinaryShareClass3 2021-03-31 07880916 c:FRS102 2020-04-01 2021-03-31 07880916 c:Audited 2020-04-01 2021-03-31 07880916 c:FullAccounts 2020-04-01 2021-03-31 07880916 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 07880916 d:Subsidiary1 2020-04-01 2021-03-31 07880916 d:Subsidiary1 1 2020-04-01 2021-03-31 07880916 d:Subsidiary2 2020-04-01 2021-03-31 07880916 d:Subsidiary2 1 2020-04-01 2021-03-31 07880916 d:Subsidiary3 2020-04-01 2021-03-31 07880916 d:Subsidiary3 1 2020-04-01 2021-03-31 07880916 c:SmallCompaniesRegimeForAccounts 2020-04-01 2021-03-31 07880916 d:TaxLossesCarry-forwardsDeferredTax 2021-03-31 07880916 d:TaxLossesCarry-forwardsDeferredTax 2020-03-31 xbrli:shares iso4217:GBP xbrli:pure









Quantum 4 (Holdings) Limited

Registered number: 07880916
Information for filing with the registrar
For the year ended 31 March 2021
 
QUANTUM 4 (HOLDINGS) LIMITED
REGISTERED NUMBER: 07880916

BALANCE SHEET
AS AT 31 MARCH 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 5 
1,833,533
1,833,533

  
1,833,533
1,833,533

Current assets
  

Debtors
 6 
2,862
3,530

Cash at bank and in hand
  
411,058
4,074

  
413,920
7,604

Creditors: amounts falling due within one year
 7 
(2,036,079)
(1,006)

Net current (liabilities)/assets
  
 
 
(1,622,159)
 
 
6,598

Total assets less current liabilities
  
211,374
1,840,131

Creditors: amounts falling due after more than one year
 8 
-
(228,123)

  

Net assets
  
211,374
1,612,008


Capital and reserves
  

Called up share capital 
 10 
210,531
210,531

Profit and loss account
 11 
843
1,401,477

  
211,374
1,612,008


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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved, authorised and signed by the Director on 15 December 2021.




I P McKeever
Director

The notes on pages 2 to 7 form part of these financial statements.

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QUANTUM 4 (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1.


General information

Quantum 4 (Holdings) Limited is a private company limited by shares, incorporated in England and Wales. The Company's registered number is 07880916. The address of the registered office is 15 The Point, Rockingham Road, Market Harborough, Leicestershire, LE16 7QU.
The principal activity of the Company during the year continued to be that of a holding company.
The financial statements have been presented in Pounds Sterling (£) as this is the currency of the primary economic environment in which the Company operates and is rounded to the nearest pound.

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 ("FRS 102"), the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The Director considers that the Company has adequate resources to continue in operational existence for the foreseeable future. Potential sources of uncertainty noted by the Director includes Coronavirus and the COVID-19 pandemic. The Director has continued to prepare the financial statements on the going concern basis, based on the data and actions taken from COVID-19.

 
2.4

Government grants

The UK government has offered a range of financial support packages to help companies, including government backed financing arrangements, furlough schemes, deferment of VAT payments and, for some sectors, business rates holidays. Of the offered schemes, the Company utilised the business rates grant scheme. This has been recognised within 'Other operating income'. They are recognised when the entity has reasonable assurance that they will comply with the conditions attaching the grant, and that the grant will be received.

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QUANTUM 4 (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

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

 
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, creditors and loans to and from related parties.

- 3 -
 
QUANTUM 4 (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
The following judgements have had the most significant effect on the amounts recognised in the financial statements:
(a) Carrying value of fixed asset investments
Investments in subsidiary undertakings are stated at cost, less any provision for impairment. Investments are tested for impairment annually by comparing the carrying value of the investments on the balance sheet against the investment's recoverable value. The recoverable value of an investment is assessed by management using a multiple of average forecast EBITDA. Where the carrying value of an investment is not fully supported by this assessment, a provision is recorded to impair the carrying value to its recoverable value.


4.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration during the year (2020 - £Nil).


5.


Fixed asset investments





Investments in subsidiary undertakings

£



Cost and net book value


At 1 April 2020
1,833,533



At 31 March 2021
1,833,533




- 4 -
 
QUANTUM 4 (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Principal activity

Holding

Quantum 4 Limited
Design and engineering of retail concepts and fixtures
Ordinary
100%
Quantum 4 International Limited
Design and engineering of retail concepts and fixtures
Ordinary
100%
Q4 Ecosmart Limited
Dormant
Ordinary
100%

All subsidiary undertakings are incorporated in England and have their registered office at 15 The Point, Rockingham Road, Market Harborough, Leicestershire, LE16 7QU.


6.


Debtors

2021
2020
£
£


Prepayments and accrued income
563
563

Deferred taxation (note 9)
2,299
2,967

2,862
3,530



7.


Creditors: amounts falling due within one year

2021
2020
£
£

Amounts owed to group undertakings
2,035,074
-

Accruals and deferred income
1,005
1,006

2,036,079
1,006



8.


Creditors: amounts falling due after more than one year

2021
2020
£
£

Amounts owed to group undertakings
-
228,123

-
228,123


- 5 -
 
QUANTUM 4 (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

9.


Deferred taxation




2021
2020


£

£






At beginning of year
2,967
2,655


Charged to profit or loss
(668)
312



At end of year
2,299
2,967

The deferred tax asset is made up as follows:

2021
2020
£
£


Tax losses carried forward
2,299
2,967

2,299
2,967


10.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



77,195 Ordinary A shares of £1 each
77,195
77,195
66,668 Ordinary B shares of £1 each
66,668
66,668
66,668 Ordinary C shares of £1 each
66,668
66,668

210,531

210,531


All classes of shares rank pari passu.


11.


Reserves

Profit and loss account

The profit and loss account represents profits and losses retained in the current and previous periods.


12.


Contingent liabilities

The Company has provided security by way of a fixed and floating charge over its assets in respect of loan notes held by its ultimate parent undertaking.

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QUANTUM 4 (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

13.


Related party transactions

The Company has taken advantage of the exemption conferred by Section 33 of Financial Reporting Standard 102 "Related Party Disclosures" not to disclosure transactions with other Group entities whose voting rights are 100% controlled within the Group.


14.


Immediate and ultimate parent undertaking and controlling party

The immediate and ultimate parent undertaking is Independent Retail Design Group Limited, whose registered office is 15 The Point, Rockingham Road, Market Harborough, Leicestershire, LE16 7QU.
The Company is controlled by I P McKeever, by virtue of his controliing interest of the ultimate parent undertaking, Independent Retail Design Group Limited.


15.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2021 was unqualified.

The audit report was signed on 15 December 2021 by Stephen English (Senior Statutory Auditor) on behalf of Mazars LLP.

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