Quantum Holdings Ltd Filleted accounts for Companies House (small and micro)
Quantum Holdings Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
02706755
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Statement of Financial Position |
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2023 |
2022 |
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Note |
£ |
£ |
£ |
Fixed assets
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Investments |
4 |
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Current assets
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Debtors |
5 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
6 |
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Net current assets |
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Total assets less current liabilities |
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Statement of Financial Position (continued) |
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2023 |
2022 |
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Note |
£ |
£ |
£ |
Capital and reserves
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Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
5 December 2023
, and are signed on behalf of the board by:
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Director |
Company registration number:
02706755
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Notes to the Financial Statements |
Year ended 30 June 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, HG3 1GY.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Employee ownership trust
Quantum Employee Ownership Trust has been established with the object of ensuring that shares in the company are held for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.
Consolidation
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Investments
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Shares in group undertakings |
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£ |
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Cost |
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At 1 July 2022 and 30 June 2023 |
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Impairment |
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At 1 July 2022 and 30 June 2023 |
– |
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Carrying amount |
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At 30 June 2023 |
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At 30 June 2022 |
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5.
Debtors
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2023 |
2022 |
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£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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6.
Creditors:
amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Other creditors |
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7.
Related party transactions
The company was under the control of
Mr J Simpson
throughout the current and previous year. Mr J Simpson
is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.
8.
Controlling party
The company is controlled by Quantum Trustees Limited, being the trustee of Quantum Employee Ownership Trust.