Q.S. Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01850377 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

Q.S. ENTERPRISES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Ms J S Cooper (Chief Executive)

P W Brading (Non-executive)

E C Townsend (Non-executive)

Dr R Makarem (Chair)

SECRETARY:

J Isaacs

REGISTERED OFFICE:

8 -11 Queen Square

London

WC1N 3AR

REGISTERED NUMBER:

01850377 (England and Wales)

AUDITORS:

Orcom Civvals Audit Limited

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Tangible assets

4

4,949,087

5,458,377

CURRENT ASSETS

Debtors

5

1,200,205

1,135,532

Cash at bank and in hand

728,511

315,466

1,928,716

1,450,998

CREDITORS

Amounts falling due within one year

6

1,812,804

1,775,720

NET CURRENT ASSETS/(LIABILITIES)

115,912

(324,722

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,064,999

5,133,655

CREDITORS

Amounts falling due after more than one year

7

5,011,607

5,736,283

NET ASSETS/(LIABILITIES)

53,392

(602,628

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

53,390

(602,630

)

SHAREHOLDERS' FUNDS

53,392

(602,628

)

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 11 July 2022 and were signed on its behalf by:

Dr R Makarem (Chair) - Director

Ms J S Cooper (Chief Executive) - Director

1.	STATUTORY INFORMATION

Q.S. Enterprises 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The notes to the financial statements set out areas involving a higher degree of judgement, or areas where assumptions are significant to the reporting entity and its financial report such as:

- useful economic lives of tangible assets

- fair value of assets and liabilities

- recoverability of tax receivables, deferred tax assets and measurement of current and deferred tax liabilities can require significant judgement, particularly where the recoverability of such tax balances relies on the estimation of future taxable profits and management's determination of the likelihood that uncertain tax positions will be accepted by the relevant taxation authority

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events. Management believes that the estimates used in preparing this financial statements are reasonable. Actual results in the future may differ from those reported and it is therefore reasonably possible, on the basis of existing knowledge, that outcomes within the next financial year that are different from management's assumptions and estimates could require an adjustment to the carrying amounts of the reported assets and liabilities in future reporting periods.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Leasehold improvements - over the term of the lease

Furniture, medical and office equipment - over 3 to 12 years

Computer equipment - over 3 to 5 years

The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance lease, which are leases where substantially all the risk and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and are depreciated over their useful lives. The capital elements of future obligations under finance leases are included as liabilities in the balance sheet.

The interest elements of the rental obligations are charged in the profit and loss account over the periods of the leases and represent a constant proportion of the balance of the capital repayments outstanding.

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 40 (2021 - 46 ) .

4.	TANGIBLE FIXED ASSETS

Furniture,

medical

and

Leasehold

office

Computer

improvements

equipment

equipment

Totals

£

£

£

£

COST

At 1 April 2021

4,433,393

4,306,928

782,198

9,522,519

Additions

7,807

22,915

33,319

64,041

At 31 March 2022

4,441,200

4,329,843

815,517

9,586,560

DEPRECIATION

At 1 April 2021

1,718,765

1,684,668

660,709

4,064,142

Charge for year

214,050

305,529

53,752

573,331

At 31 March 2022

1,932,815

1,990,197

714,461

4,637,473

NET BOOK VALUE

At 31 March 2022

2,508,385

2,339,646

101,056

4,949,087

At 31 March 2021

2,714,628

2,622,260

121,489

5,458,377

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Furniture,

medical

and

Leasehold

office

Computer

improvements

equipment

equipment

Totals

£

£

£

£

COST

At 1 April 2021

and 31 March 2022

850,000

3,837,090

47,932

4,735,022

DEPRECIATION

At 1 April 2021

24,792

1,273,644

47,932

1,346,368

Charge for year

85,000

260,160

-

345,160

At 31 March 2022

109,792

1,533,804

47,932

1,691,528

NET BOOK VALUE

At 31 March 2022

740,208

2,303,286

-

3,043,494

At 31 March 2021

825,208

2,563,446

-

3,388,654

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

923,345

809,299

Other debtors

107,185

51,081

Prepayments

169,675

275,152

1,200,205

1,135,532

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts and finance leases (see note 8)

836,558

805,182

Trade creditors

244,096

290,040

Tax

50,185

5,266

Social security and other taxes

42,703

53,719

Other creditors

263,995

183,330

Accruals

375,267

438,183

1,812,804

1,775,720

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts and finance leases (see note 8)

1,734,286

2,574,083

Other creditors

7,000

112,375

Amount due to group

undertaking

3,270,321

3,049,825

5,011,607

5,736,283

Amounts falling due in more than five years:

Repayable by instalments

Finance leases

-

136,371

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts and finance leases

2022

2021

£

£

Net obligations repayable:

Within one year

836,558

805,182

Between one and five years

1,734,286

2,437,71 2

In more than five years

-

136,371

2,570,844

,379,265

Non-cancellable

operating leases

2022

2021

£

£

Within one year

518,109

340,516

Between one and five years

1,739,237

1,175,952

In more than five years

1,119,402

1,279,360

3,376,748

2,795,828

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aamir Kazi (Senior Statutory Auditor)

for and on behalf of Orcom Civvals Audit Limited

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY

12.	PENSION COMMITMENTS

The company contributes to the personal pension schemes of all employees and one director. Contributions are charged in the profit and loss account as they become payable in accordance with the contribution rates agreed between the company and the employees. During the year, contributions payable amounted to £89,937 (2021: £105,848). There were accrued contributions at the year end of £3,766 (2021: £Nil).