Qualitas Consortium UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09730277 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

FOR

QUALITAS CONSORTIUM UK LIMITED

Page

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTORS:

Ms M G Dixon

Mr S J Burrows

REGISTERED OFFICE:

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

REGISTERED NUMBER:

09730277 (England and Wales)

ACCOUNTANTS:

Seymour Taylor Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

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 Statement of Financial Position. 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 Qualitas Consortium UK Limited for the year ended 30 June 2021 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Qualitas Consortium UK Limited, 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 Qualitas Consortium UK Limited and state those matters that we have agreed to state to the Board of Directors of Qualitas Consortium UK Limited, 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 Qualitas Consortium UK Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Qualitas Consortium UK 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 loss of Qualitas Consortium UK Limited. You consider that Qualitas Consortium UK 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 Qualitas Consortium UK 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.

Seymour Taylor Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

4 January 2022

FIXED ASSETS

Tangible assets

4

1,180

2,323

CURRENT ASSETS

Debtors

5

155,257

237,771

Cash at bank

435,100

402,751

590,357

640,522

CREDITORS

Amounts falling due within one year

6

284,560

256,242

NET CURRENT ASSETS

305,797

384,280

TOTAL ASSETS LESS CURRENT LIABILITIES

306,977

386,603

CREDITORS

Amounts falling due after more than one year

7

28,079

103,079

NET ASSETS

278,898

283,524

CAPITAL AND RESERVES

Called up share capital

8

200

200

Share premium

68,300

68,300

Retained earnings

210,398

215,024

SHAREHOLDERS' FUNDS

278,898

283,524

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 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 Board of Directors and authorised for issue on 4 January 2022 and were signed on its behalf by:

Mr S J Burrows - Director

1.	GENERAL INFORMATION

Qualitas Consortium UK Limited is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is 57 London Road, High Wycombe, Buckinghamshire, HP11 1BS. The registered number is 09730277.

The principal activity of the company is that of consultancy services.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

In light of the rapid global spread of the Coronavirus "COVID-19" in early 2020, the directors have reviewed budgets for the next twelve months. Following this review, the directors consider there to be little impact on the Company's ability to act as a going concern.

The directors have reviewed the supply chains, key customers and the capital resources available and consider that the company has adequate resources in place to continue trading for the next twelve months.

Turnover

Turnover is measured at the fair value of consideration received or receivable for services provided, net of value added tax.

Turnover from the rendering of services is recognised when the outcome of a transaction can be estimated reliably and turnover associated with this transaction shall be recognised when the work has been carried out.

Tangible fixed assets

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

Computer equipment

-

straight line - 33%

Government grants

The company receives government grants in respect of the Coronavirus Job Retention Scheme.

These grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the company will comply with conditions attaching to them and the grants will be received, sing the accrual model.

Financial instruments

The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

Foreign currencies

Transactions denominated in foreign currencies are translated into Sterling at the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities at the period end denominated in a foreign currency are translated into Sterling at the rate of exchange ruling at the balance sheet date. Exchange differences are taken into account when arriving at the operating profit.

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 8 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 July 2020

6,448

Additions

1,416

Disposals

(4,573

)

At 30 June 2021

3,291

DEPRECIATION

At 1 July 2020

4,125

Charge for year

236

Eliminated on disposal

(2,250

)

At 30 June 2021

2,111

NET BOOK VALUE

At 30 June 2021

1,180

At 30 June 2020

2,323

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

152,584

237,348

Other debtors

2,673

423

155,257

237,771

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

50,000

-

Trade creditors

48,157

42,214

Taxation and social security

108,697

155,201

Other creditors

77,706

58,827

284,560

256,242

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

28,079

103,079

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

200

Ordinary

£1

200

200

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2021 and 30 June 2020:

2021

2020

£

£

Ms M G Dixon

Balance outstanding at start of year

(144,844

)

34,778

Amounts advanced

56,767

15,564

Amounts repaid

-

(195,186

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(88,077

)

(144,844

)

Mr S J Burrows

Balance outstanding at start of year

-

27,360

Amounts repaid

-

(27,360

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-