Qualitas Training & Consultancy Limited - Period Ending 2019-03-30
Qualitas Training & Consultancy Limited - Period Ending 2019-03-30
Registration number:
Qualitas Training & Consultancy Limited
for the Year Ended 30 March 2019
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP
Qualitas Training & Consultancy Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Qualitas Training & Consultancy Limited
Company Information
Directors |
Mr G F Fildes Mrs D J Fildes |
Company secretary |
Mrs D J Fildes |
Registered office |
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Accountants |
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Page 1 |
Qualitas Training & Consultancy Limited
(Registration number: 05005317)
Balance Sheet as at 30 March 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
58,291 |
48,334 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Allotted, called up and fully paid share capital |
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Other reserves |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.
Page 2 |
Qualitas Training & Consultancy Limited
(Registration number: 05005317)
Balance Sheet as at 30 March 2019
Approved and authorised by the
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Page 3 |
Qualitas Training & Consultancy Limited
Notes to the Financial Statements for the Year Ended 30 March 2019
General information |
The company is a private company limited by share capital incorporated in England & Wales registration number: 05005317.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency is £ sterling.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Page 4 |
Qualitas Training & Consultancy Limited
Notes to the Financial Statements for the Year Ended 30 March 2019
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
Straight line over 20 years |
Fixtures and fittings |
15% reducing balance basis |
Office equipment |
Straight line over 3 years |
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Page 5 |
Qualitas Training & Consultancy Limited
Notes to the Financial Statements for the Year Ended 30 March 2019
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 31 March 2018 |
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Revaluations |
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- |
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Additions |
- |
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Disposals |
( |
- |
( |
( |
At 30 March 2019 |
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Depreciation |
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At 31 March 2018 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
( |
At 30 March 2019 |
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Carrying amount |
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At 30 March 2019 |
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At 30 March 2018 |
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- |
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Included within the net book value of land and buildings above is £579,933 (2018 - £700,772) in respect of freehold land and buildings.
Page 6 |
Qualitas Training & Consultancy Limited
Notes to the Financial Statements for the Year Ended 30 March 2019
Investment properties |
The investment properties class of fixed assets was revalued on 30 March 2019 by Mr GF Fildes, a director who is internal to the company. The property was valued on the basis of open market value by the director.
There has been no valuation of investment property by an independent valuer.
Page 7 |
Qualitas Training & Consultancy Limited
Notes to the Financial Statements for the Year Ended 30 March 2019
Other financial assets (current and non-current) |
Other investments |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 31 March 2018 |
48,333 |
48,333 |
Additions |
9,958 |
9,958 |
At 30 March 2019 |
58,291 |
58,291 |
Impairment |
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Carrying amount |
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At 30 March 2019 |
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58,291 |
Debtors |
2019 |
2018 |
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Trade debtors |
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Prepayments |
- |
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Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Page 8 |