Graded Qualifications Alliance - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04981850 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2022

for

Graded Qualifications Alliance

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mrs A Oliver

Mrs K R Everest

Mr B F Fallon

Mr I J James

Ms L A Seddon

SECRETARY:

Mrs H Mence

REGISTERED OFFICE:

International Arts Centre

Garden Street

Leicester

Leicestershire

LE1 3UA

REGISTERED NUMBER:

04981850 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graded Qualifications Alliance for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Graded Qualifications Alliance, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Graded Qualifications Alliance and state those matters that we have agreed to state to the Board of Directors of Graded Qualifications Alliance, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Graded Qualifications Alliance and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Graded Qualifications Alliance has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Graded Qualifications Alliance. You consider that Graded Qualifications Alliance is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Graded Qualifications Alliance. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

19 July 2022

CURRENT ASSETS

Stocks

5,210

5,210

Debtors

6

24,517

18,661

Cash at bank

3,703

3,435

33,430

27,306

CREDITORS

Amounts falling due within one year

7

2,587

1,960

NET CURRENT ASSETS

30,843

25,346

TOTAL ASSETS LESS CURRENT LIABILITIES

30,843

25,346

RESERVES

Income and expenditure account

30,843

25,346

30,843

25,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 surplus or deficit 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 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 19 July 2022 and were signed on its behalf by:

Mrs A Oliver - Director

1.	STATUTORY INFORMATION

Graded Qualifications Alliance is a private company, limited by guarantee , 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 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.

Trade mark

Intangible fixed assets relate to legal costs incurred in the registration of the company's trade mark.

Amortisation is provided at 10% per annum to write off the asset over its economic useful life.

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 cost

Computer equipment

-

20% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2021

and 31 March 2022

10,000

AMORTISATION

At 1 April 2021

and 31 March 2022

10,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2021

and 31 March 2022

1,193

15,400

16,593

DEPRECIATION

At 1 April 2021

and 31 March 2022

1,193

15,400

16,593

NET BOOK VALUE

At 31 March 2022

-

-

-

At 31 March 2021

-

-

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

855

814

Amounts owed by group undertakings

23,315

17,815

Other debtors

347

-

Social security & other taxes

-

32

24,517

18,661

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Corporation tax

-

167

Social security and other taxes

592

-

Other creditors

1,995

1,793

2,587

1,960

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is BTDA (British Theatre Dance Association) a UK registered charity being the sole member which uses the same registered office address.

9.	SHARE CAPITAL

The company is a company limited by guarantee having no share capital. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.