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Registered number: 06766718
MAITLANDQS (HOLDINGS) LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2022
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MAITLANDQS (HOLDINGS) LIMITED
REGISTERED NUMBER: 06766718
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Capital redemption reserve
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 6 form part of these financial statements.
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MAITLANDQS (HOLDINGS) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022
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Capital redemption reserve
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The notes on pages 3 to 6 form part of these financial statements.
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MAITLANDQS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
MaitlandQS (Holdings) Limited (registered number 06766718) is a private company limited by shares and incorporated in England and Wales. The registered office address is 91 Fleet Road, Fleet, Hampshire, GU51 3PJ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Investments in non-derivative instruments that are equity to the issuer are measured:
∙at fair value with changes recognised in the Statement of income and retained earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;
∙at cost less impairment for all other investments.
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MAITLANDQS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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The directors are remunerated through the subsidiary company, MaitlandQS Limited.
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The average monthly number of employees during the year was 0 (2021 - 0).
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the Company:
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MAITLANDQS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Creditors: Amounts falling due within one year
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Share capital treated as debt
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The preferred ordinary shares and preferred ordinary redeemable shares are non-equity shares which have no rights to vote at general meetings. The preferred ordinary redeemable shares carry no entitlement to a dividend but in respect of each accounting period the holders are entitled to receive a capital rate of growth of 5% compound per annum payable on the redemption of the shares. Preferred ordinary and preferred ordinary redeemable shareholders have the right on winding up to receive, in priority to the other shareholders, the sum of £1 per share together with the capital rate of growth.
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MAITLANDQS (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Shares classified as equity
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Allotted, called up and fully paid
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7,750 (2021 - 7,750) A Ordinary shares of £1.00 each
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32,249 (2021 - 32,249) Ordinary shares of £1.00 each
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Shares classified as debt
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Allotted, called up and fully paid
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247,432 (2021 - 565,528) Preference Ordinary shares of £1.00 each
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0 (2021 - 482,671) Preference Ordinary Redeemable shares of £1.00 each
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Accrued finance charges -
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Related party transactions
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Finance charges of £38,204 (2021: £41,894) have accrued on £482,671 (2021: £482,671) Preferred Ordinary Redeemable shares held by The Maitland QS Retirement Benefit Scheme. The Preferred Ordinary Redeemable shares have been bought back during the year with payment made post year end.
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Post balance sheet events
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On 5 May 2022, the Company issued a payment of £910,148 in relation to the Preferred Ordinary Redeemable Shares which were bought back during the year. £482,671 of this related to the share capital and £427,477 related to interest accrued.
The directors do not consider there to be an ultimate controlling party.
The auditor's report on the financial statements for the year ended 31 March 2022 was unqualified.
The audit report was signed on 15 December 2022 by Stephen Morgan FCA (Senior statutory auditor) on behalf of Wise & Co.
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