Quantum-H Limited - Accounts to registrar (filleted) - small 18.2

Quantum-H Limited - Accounts to registrar (filleted) - small 18.2

QUANTUM-H LIMITED - Company Information

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REGISTERED NUMBER: 11104424 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

QUANTUM-H LIMITED
QUANTUM-H LIMITED (REGISTERED NUMBER: 11104424)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUANTUM-H LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DIRECTORS: D R Cutler
L Samuel
N Taj





REGISTERED OFFICE: 1 London Street
Reading
United Kingdom
RG1 4PN





REGISTERED NUMBER: 11104424 (England and Wales)
Page 1
QUANTUM-H LIMITED (REGISTERED NUMBER: 11104424)

BALANCE SHEET
31 DECEMBER 2019

31.12.19 31.12.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,707 276

CURRENT ASSETS
Debtors 5 68,131 19,996
Cash at bank 120,082 28,531
188,213 48,527
CREDITORS
Amounts falling due within one year 6 158,550 116,107
NET CURRENT ASSETS/(LIABILITIES) 29,663 (67,580 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
31,370
(67,304
)

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 21,370 (77,304 )
31,370 (67,304 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these financial statements

Page 2 continued...
QUANTUM-H LIMITED (REGISTERED NUMBER: 11104424)

BALANCE SHEET - continued
31 DECEMBER 2019


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 by the Board of Directors and authorised for issue on 20 May 2020 and were signed on its behalf by:





L Samuel - Director


The notes form part of these financial statements

Page 3
QUANTUM-H LIMITED (REGISTERED NUMBER: 11104424)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1. STATUTORY INFORMATION

Qrewards Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11104424 and the registered office is 1 London Street, PO Box 174, Reading, Berkshire, RG1 4PN.

The principal activity of the company is that of marketing consultancy services.

The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Tangible assets are stated at cost less accumulated depreciation and any accumulated impairment losses.

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

Office equipment - 20% straight line basis

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.


Page 4 continued...
QUANTUM-H LIMITED (REGISTERED NUMBER: 11104424)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

2. ACCOUNTING POLICIES - continued
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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

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

Going concern
The directors are not aware of any material uncertainties that may cast significant doubt over the ability of the company to continue trading. The directors will continue to provide financial support to the company for the foreseeable future.The preparation of the financial statements on the going concern basis is therefore deemed appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - NIL ) .

Page 5 continued...
QUANTUM-H LIMITED (REGISTERED NUMBER: 11104424)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 January 2019 315
Additions 2,403
At 31 December 2019 2,718
DEPRECIATION
At 1 January 2019 39
Charge for year 972
At 31 December 2019 1,011
NET BOOK VALUE
At 31 December 2019 1,707
At 31 December 2018 276

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade debtors 64,631 -
Directors' loan accounts 3,500 3,500
VAT - 16,496
68,131 19,996

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade creditors 552 -
Tax 6,182 -
Social security and other taxes 6,975 -
VAT 13,988 -
Other creditors 10,275 10,275
Directors' loan accounts 108,124 104,732
Accruals and deferred income 12,454 1,100
158,550 116,107

Page 6