Q7 Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05885154 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2021

for

Q7 Group Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

Q Ahmed

SECRETARY:

Q A Ahmed

REGISTERED OFFICE:

3 Hagley Court North

The Waterfront

Dudley

West Midlands

DY5 1XF

REGISTERED NUMBER:

05885154 (England and Wales)

ACCOUNTANTS:

Mallett Jones

3 Hagley Court North

The Waterfront

Dudley

West Midlands

DY5 1XF

The following reproduces the text of the report prepared for the director 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 Director 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 Q7 Group Limited for the year ended 31 July 2021 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Q7 Group Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Q7 Group Limited and state those matters that we have agreed to state to the director of Q7 Group Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Q7 Group Limited 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 Q7 Group Limited. You consider that Q7 Group Limited 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 Q7 Group Limited. 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.

Mallett Jones

3 Hagley Court North

The Waterfront

Dudley

West Midlands

DY5 1XF

19 April 2022

FIXED ASSETS

Tangible assets

4

292,864

299,360

CURRENT ASSETS

Debtors

5

-

1,096

Cash at bank

27,113

17,917

27,113

19,013

CREDITORS

Amounts falling due within one year

6

149,997

150,000

NET CURRENT LIABILITIES

(122,884

)

(130,987

)

TOTAL ASSETS LESS CURRENT LIABILITIES

169,980

168,373

CREDITORS

Amounts falling due after more than one year

7

148,183

162,467

NET ASSETS

21,797

5,906

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

21,697

5,806

SHAREHOLDERS' FUNDS

21,797

5,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 19 April 2022 and were signed by:

Q A Ahmed - Director

1.	STATUTORY INFORMATION

Q7 Group 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.

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.

Goodwill

The goodwill, being the amount paid in connection with the acquisition of the business, is being amortised evenly over its estimated useful life of 10 years. The goodwill paid in connection with the Streatham nursery is being amortised evenly over the remaining life of the lease, being 5 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Land and buildings

-

2% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 2 ).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 August 2020

and 31 July 2021

324,803

DEPRECIATION

At 1 August 2020

25,443

Charge for year

6,496

At 31 July 2021

31,939

NET BOOK VALUE

At 31 July 2021

292,864

At 31 July 2020

299,360

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Other debtors

-

1,096

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Bank loans and overdrafts

13,791

12,833

Trade creditors

-

1

Taxation and social security

(504

)

(504

)

Other creditors

136,710

137,670

149,997

150,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.21

31.7.20

£

£

Bank loans

148,183

162,467

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

89,915

105,943

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.21

31.7.20

£

£

Bank loans

161,974

175,300

Charge held over property.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.21

31.7.20

value:

£

£

100

Ordinary

£1

100

100

10.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors.