Quantec HVAC Solutions Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12737502 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

QUANTEC HVAC SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr G L Cardinal

Mr P A Goodchild

REGISTERED OFFICE:

The Old Coach House

Cams Hall Estate

Fareham

Hampshire

PO16 8UT

REGISTERED NUMBER:

12737502 (England and Wales)

AUDITORS:

Gibson Whitter Limited

Statutory Auditors

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Tangible assets

4

58,204

61,080

CURRENT ASSETS

Debtors

5

526,475

463,289

Cash at bank

344,937

355,783

871,412

819,072

CREDITORS

Amounts falling due within one year

6

829,338

652,327

NET CURRENT ASSETS

42,074

166,745

TOTAL ASSETS LESS CURRENT LIABILITIES

100,278

227,825

PROVISIONS FOR LIABILITIES

8

12,530

9,470

NET ASSETS

87,748

218,355

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

87,648

218,255

SHAREHOLDERS' FUNDS

87,748

218,355

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 and authorised for issue by the Board of Directors and authorised for issue on 31 March 2023 and were signed on its behalf by:

Mr G L Cardinal - Director

1.	STATUTORY INFORMATION

Quantec HVAC Solutions 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.

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' and the Companies Act 2006. The financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the Company's functional currency.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on 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.

Hire purchase and leasing commitments

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

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 26 (2021 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2021

74,279

Additions

12,639

At 30 September 2022

86,918

DEPRECIATION

At 1 October 2021

13,199

Charge for year

15,515

At 30 September 2022

28,714

NET BOOK VALUE

At 30 September 2022

58,204

At 30 September 2021

61,080

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Trade debtors

507,240

438,971

Other debtors

19,235

24,318

526,475

463,289

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Trade creditors

119,839

172,968

Amounts owed to group undertakings

99,155

52,654

Taxation and social security

225,855

204,807

Other creditors

384,489

221,898

829,338

652,327

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.9.22

30.9.21

£

£

Within one year

19,995

19,995

Between one and five years

21,661

41,656

41,656

61,651

8.	PROVISIONS FOR LIABILITIES

30.9.22

30.9.21

£

£

Deferred tax

12,530

9,470

Deferred

tax

£

Balance at 1 October 2021

9,470

Provided during year

3,060

Balance at 30 September 2022

12,530

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.9.21

value:

£

£

90

Ordinary A Shares

£1

90

90

10

Ordinary B Shares

£1

10

10

100

100

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

The Report of the Auditors was unqualified.

Gavin Whitter (Senior Statutory Auditor)

for and on behalf of Gibson Whitter Limited

11.	RELATED PARTY DISCLOSURES

The aggregate amount owed from group undertakings at the balance sheet date is £210,950 (30.9.21: £324,129).

During the year the company invoiced £3,175,751 (30.9.21: £2,532,439) to group undertakings for staff and other recharges.

During the year the company was invoiced £150,000 (30.9.21: £Nil) by group undertakings for management charges.

12.	ULTIMATE CONTROLLING PARTY

The company's immediate parent is Integrated Technical Solutions Group Limited, incorporated in England and Wales.

The parent of the largest group in which these financial statements are consolidated is Integrated Technical Solutions Group Limited, incorporated in England and Wales.

The address of Integrated Technical Solutions Group Limited is:

West Farm House, Cams Hall Estate, Fareham, Hampshire, PO16 8UP.