RedQuadrant Limited - Limited company accounts 18.2

REGISTERED NUMBER: 06944005 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 June 2018

for

RedQuadrant Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Statement of Financial Position

4

Statement of Changes in Equity

6

Notes to the Financial Statements

7

DIRECTOR:

Mr B P Taylor

REGISTERED OFFICE:

27-29 South Lambeth Road

Vauxhall

London

SW8 1SZ

REGISTERED NUMBER:

06944005 (England and Wales)

ACCOUNTANTS:

Farnell Clarke Limited

Evolution House

Delft Way

Norwich Airport

Norwich

Norfolk

NR6 6BB

The director presents his report with the financial statements of the company for the year ended 30 June 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of public sector management consultancy services.

DIRECTOR

Mr B P Taylor held office during the whole of the period from 1 July 2017 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr B P Taylor - Director

7 February 2019

REVENUE

2,183,043

2,546,840

Cost of sales

1,603,391

1,841,479

GROSS PROFIT

579,652

705,361

Administrative expenses

473,805

432,655

OPERATING PROFIT

4

105,847

272,706

Interest payable and similar expenses

-

(129

)

PROFIT BEFORE TAXATION

105,847

272,835

Tax on profit

5

21,787

57,061

PROFIT FOR THE FINANCIAL YEAR

84,060

215,774

FIXED ASSETS

Intangible assets

7

8,250

13,441

Property, plant and equipment

8

13,246

6,824

21,496

20,265

CURRENT ASSETS

Inventories

80,000

80,000

Debtors

9

757,423

711,678

Prepayments and accrued income

20,887

12,649

Cash at bank and in hand

82,737

85,073

941,047

889,400

CREDITORS

Amounts falling due within one year

10

722,273

708,999

NET CURRENT ASSETS

218,774

180,401

TOTAL ASSETS LESS CURRENT LIABILITIES

240,270

200,666

PROVISIONS FOR LIABILITIES

2,517

1,297

NET ASSETS

237,753

199,369

CAPITAL AND RESERVES

Called up share capital

11

833

833

Capital redemption reserve

12

833

833

Retained earnings

12

236,087

197,703

SHAREHOLDERS' FUNDS

237,753

199,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 7 February 2019 and were signed by:

Mr B P Taylor - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 July 2016

1,666

481,544

-

483,210

Changes in equity

Issue of share capital

(833

)

-

-

(833

)

Dividends

-

(98,416

)

-

(98,416

)

Total comprehensive income

-

(185,425

)

833

(184,592

)

Balance at 30 June 2017

833

197,703

833

199,369

Changes in equity

Dividends

-

(45,676

)

-

(45,676

)

Total comprehensive income

-

84,060

-

84,060

Balance at 30 June 2018

833

236,087

833

237,753

1.	STATUTORY INFORMATION

RedQuadrant Limited 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 the provisions of Section 1A "Small Entities" of 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 under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

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

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing inventories to their present location and condition.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position 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.

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 7 (2017 - 6 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.6.18

30.6.17

£

£

Depreciation - owned assets

3,549

2,604

Development costs amortisation

5,191

5,192

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

30.6.18

30.6.17

£

£

Current tax:

UK corporation tax

20,567

55,764

Deferred tax

1,220

1,297

Tax on profit

21,787

57,061

6.

DIVIDENDS

30.6.18

30.6.17

£

£

Ordinary B Shares shares of £1 each

Interim

22,838

49,208

Ordinary E Shares shares of £1 each

Interim

22,838

49,208

45,676

98,416

7.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 July 2017

and 30 June 2018

25,958

AMORTISATION

At 1 July 2017

12,517

Amortisation for year

5,191

At 30 June 2018

17,708

NET BOOK VALUE

At 30 June 2018

8,250

At 30 June 2017

13,441

8.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2017

407

9,266

27,053

36,726

Additions

-

1,170

8,801

9,971

At 30 June 2018

407

10,436

35,854

46,697

DEPRECIATION

At 1 July 2017

8

5,098

24,796

29,902

Charge for year

100

726

2,723

3,549

At 30 June 2018

108

5,824

27,519

33,451

NET BOOK VALUE

At 30 June 2018

299

4,612

8,335

13,246

At 30 June 2017

399

4,168

2,257

6,824

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

725,339

686,395

Other debtors

32,084

25,283

757,423

711,678

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Bank loans and overdrafts

-

749

Trade creditors

532,953

428,683

Tax

20,567

55,764

Social security and other taxes

15,727

7,349

VAT

30,850

107,705

Other creditors

106,587

79,700

Directors' current accounts

12,705

28,780

Accruals and deferred income

2,884

269

722,273

708,999

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

£

300

Ordinary B Shares

£1

300

300

33

Ordinary D Shares

£1

33

33

500

Ordinary E Shares

£1

500

500

833

833

12.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 July 2017

197,703

833

198,536

Profit for the year

84,060

84,060

Dividends

(45,676

)

(45,676

)

At 30 June 2018

236,087

833

236,920

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £22,838 (2017 - £49,208) were paid to the directors .

At the end of the financial year the company was owed £94,815 (2017: £158,483 ) by Public Service Transformation

Academy Limited which is a company under control of common directors. This is included within Trade debtors.

At the end of the financial year the company was owed £3,016 (2017: £2,916) by RedQuadrant Resources Limited

which is a company under control of common directors, this balance is included within Other debtors.

At the end of the financial year the company was owed £53,374 (2017 was owed: £9,657 by Quadrant Resourcing

Limited which is a company under control of common directors, £26,869 is included in Other creditors being owed

to RedQuadrant and £80,243 is included within Trade debtors.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr B P Taylor.