|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 30 September 2018 |
|
for |
|
Quant Network Ltd |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 30 September 2018 |
|
for |
|
Quant Network Ltd |
Quant Network Ltd (Registered number: 09798383) |
|
Contents of the Financial Statements |
for the Year Ended 30 September 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Quant Network Ltd |
|
Company Information |
for the Year Ended 30 September 2018 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Certified Accountants |
Capital Tower |
91 Waterloo Road |
London |
SE1 8RT |
Quant Network Ltd (Registered number: 09798383) |
|
Balance Sheet |
30 September 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
|
|
NET (LIABILITIES)/ASSETS | ( |
) |
|
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
|
Retained earnings | ( |
) |
|
SHAREHOLDERS' FUNDS | 10 | ( |
) |
|
|
|
|
|
|
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. |
Quant Network Ltd (Registered number: 09798383) |
|
Balance Sheet - continued |
30 September 2018 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
Quant Network Ltd (Registered number: 09798383) |
|
Notes to the Financial Statements |
for the Year Ended 30 September 2018 |
|
|
1. | STATUTORY INFORMATION |
|
Quant Network Ltd is a
|
registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
The directors have considered the results since the year end and confirmed that this, combined with the continued |
support of external investment, will ensure that the company has sufficient working capital resources for the |
foreseeable future. Consequently, the financial statements have been prepared on a going concern basis. |
|
Tangible fixed assets |
|
|
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
|
Quant Network Ltd (Registered number: 09798383) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
|
At 30 September 2018 |
|
DEPRECIATION |
Charge for year |
|
At 30 September 2018 |
|
NET BOOK VALUE |
At 30 September 2018 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
|
|
|
8. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
|
Ordinary | £1.00 | 100 | 100 |
|
9. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is Mr G Verdian. |
Quant Network Ltd (Registered number: 09798383) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
|
|
10. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
2018 | 2017 |
£ | £ |
Loss for the financial year | ( |
) |
|
New share capital subscribed | - | 100 |
Net (reduction)/addition to shareholders' funds | (873,697 | ) | 100 |
Opening shareholders' funds | 100 | - |
Closing shareholders' funds | (873,597 | ) | 100 |
|
11. | OTHER CREDITORS |
|
Quant Network Ltd.., has received the sum of £1,208,611 from Quant Network AG ., as an interest free loan for |
the year ended 30 September 2018. |
|
It is anticipated that for the accounting year ended 30 September 2019 Quant Network Limited will continue to |
accrue further losses |
|
The board of Quant Network AG . have provided a signed letter of support to the director of Quant Network |
Limited confirming that: |
|
[1] - Quant Network AG will support and cover any future losses incurred by Quant Network Limited in the |
financial year ending 30 September 2018 |
[2]- Quant Network AG will not make a demand of the existing debt unless and until Quant Network Limited |
has a positive balance sheet and cashflow of Quant Network Limited permits |
[3]-Quant Network AG will continue to support the existing losses during the entire Financial Year ending 30 |
September 2019 |
|
[4]On the basis of the signed letter of support from Quant Network AG , the accounts for the year ended 30 |
September 2018 have been prepared on a historical cost basis |