Loqus UK Ltd - Period Ending 2021-06-30

Loqus UK Ltd

Contents of the Financial Statements
for the Year Ended 30 June 2021

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 6

Loqus UK Ltd

Company Information
for the Year Ended 30 June 2021

Directors:

Mr J A F Conti Mr N J Rendell

Registered office:

Savoy House Savoy Circus London W3 7DA

Registered number:

06950202

Auditors:

Wem & Co & Registered Auditors Savoy House Savoy Circus London W3 7DA

Loqus UK Ltd

(Registration number: 06950202)
Statement of Financial Position as at 30 June 2021

	Note	30.06.21		30.06.20
		£	£	£	£
Fixed assets
Investments	4		1,367,867		1,199,542
Current assets
Debtors	5	207,888		405,134
Cash at bank and in hand		299		852
		208,187		405,986
CREDITORS
Creditors within 1yr		301,200		558,065
Net current liabilities			(93,013)		(152,079)
Total assets less current liabilities			1,274,854		1,047,463
Creditors Amounts falling due after more than one year	6		65,339		34,089
Net assets			1,209,515		1,013,374
Capital and reserves
Called up share capital	7		1		1
Profit and loss account			1,209,514		1,013,373
Shareholders' funds			1,209,515		1,013,374

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 4 March 2022 and signed on its behalf by:
 

.........................................

Mr J A F Conti
Director

Loqus UK Ltd

Notes to the Financial Statements
for the Year Ended 30 June 2021

1.	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the Board on 4 March 2022.

2.	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' 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.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£)

Summary of disclosure exemptions

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.

Group accounts not prepared

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.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 10 March 2022 was Alistair Ian Wem BSc BFP FCA, who signed for and on behalf of Wem & Co .

Loqus UK Ltd

Notes to the Financial Statements
for the Year Ended 30 June 2021 (continued)

2	Accounting policies (continued)

Tax

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3.	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).

4.	Investments

	30.06.21 £	30.06.20 £
Investments in subsidiaries	1,367,867	1,199,542

Loqus UK Ltd

Notes to the Financial Statements
for the Year Ended 30 June 2021 (continued)

4	Investments (continued)

Subsidiaries	£
Cost or valuation
At 1 July 2020	1,199,542
Revaluation	168,325
At 30 June 2021	1,367,867
Provision
Carrying amount
At 30 June 2021	1,367,867
At 30 June 2020	1,199,542

5.

Debtors

	Note	30.06.21 £	30.06.20 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest		207,888	405,134
Less non-current portion		(9,233)	(9,233)
		198,655	395,901

Loqus UK Ltd

Notes to the Financial Statements
for the Year Ended 30 June 2021 (continued)

6.

Creditors

Creditors: amounts falling due within one year

	Note	30.06.21 £	30.06.20 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		6,485	5,985
Accruals and deferred income		1,457	-
Other creditors		293,258	552,080
		301,200	558,065

Creditors: amounts falling due after more than one year

	30.06.21 £	30.06.20 £
Due after one year
Other non-current financial liabilities	65,339	34,089

7.	Share capital

Allotted, called up and fully paid shares

	30.06.21		30.06.20
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

8.	Parent and ultimate parent undertaking

The ultimate controlling party is Loqus Holding P.L.C.

The parent of the smallest group in which these financial statements are consolidated is Loqus Holdings P.L.C.

The address of Loqus Holdings P.L.C is:
SUB008A, Industrial Estate, San Gwann SGN 3000, Malta

9

Debenture

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