ACCOUNTS - Final Accounts

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falseNo description of principal activity03falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06750950 2021-01-01 2021-12-31 06750950 2020-01-01 2020-12-31 06750950 2021-12-31 06750950 2020-12-31 06750950 c:Director3 2021-01-01 2021-12-31 06750950 d:PlantMachinery 2021-01-01 2021-12-31 06750950 d:PlantMachinery 2021-12-31 06750950 d:PlantMachinery 2020-12-31 06750950 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 06750950 d:MotorVehicles 2021-01-01 2021-12-31 06750950 d:CurrentFinancialInstruments 2021-12-31 06750950 d:CurrentFinancialInstruments 2020-12-31 06750950 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 06750950 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 06750950 d:ShareCapital 2021-12-31 06750950 d:ShareCapital 2020-12-31 06750950 d:RetainedEarningsAccumulatedLosses 2021-12-31 06750950 d:RetainedEarningsAccumulatedLosses 2020-12-31 06750950 c:FRS102 2021-01-01 2021-12-31 06750950 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 06750950 c:FullAccounts 2021-01-01 2021-12-31 06750950 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 06750950 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 06750950

QC EVENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

QC EVENTS LIMITED

REGISTERED NUMBER: 06750950

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		2,598		3,463
			2,598		3,463
Current assets
Debtors: amounts falling due within one year	5	165,623		158,282
Cash at bank and in hand	6	44,038		133,118
		209,661		291,400
Creditors: amounts falling due within one year	7	(242,535)		(320,258)
Net current liabilities			(32,874)		(28,858)
Total assets less current liabilities			(30,276)		(25,395)

Net liabilities			(30,276)		(25,395)

Capital and reserves
Called up share capital	2	2
Profit and loss account	(30,278)	(25,397)
	(30,276)	(25,395)

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QC EVENTS LIMITED

REGISTERED NUMBER: 06750950

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 comprehensive income 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 on 15 December 2022.

A Stephens

Director

The notes on pages 3 to 7 form part of these financial statements.

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QC EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

QC Events Limited is a private company, limited by shares, domiciled in England and Wales, registration number 06750950. The registered office is 8 Henrietta Villas, Henrietta Road, Bath, Somerset, BA2 6LX. The principal activity of the company continued to be that of events organising.

2.Accounting policies

2.1

Basis of preparation of financial statements

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:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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QC EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.5

Finance costs

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.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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QC EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.9

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Plant and machinery	-	25% Reducing Balance
				Motor vehicles	-	25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

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.

2.13

Financial instruments

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.

Employees

The average monthly number of employees, including directors, during the year was 0 (2020 - 3).

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QC EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

4.	Tangible fixed assets

		Fixtures & Equipment
		£
	Cost or valuation
	At 1 January 2021	12,674
	At 31 December 2021	12,674
	Depreciation
	At 1 January 2021	9,211
	Charge for the year on owned assets	866
	At 31 December 2021	10,077
	Net book value
	At 31 December 2021	2,597
	At 31 December 2020	3,464

Debtors

					2021	2020
					£	£


Trade debtors	53,115	9,817
Other debtors	11,387	12,897
Prepayments and accrued income	101,121	135,568
	165,623	158,282

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	44,038	133,118
Less: bank overdrafts	-	(50,000)
	44,038	83,118

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QC EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank overdrafts	-	50,000
Trade creditors	3,352	7
Other taxation and social security	12,147	7,173
Other creditors	36,526	20,878
Accruals and deferred income	190,510	242,200
	242,535	320,258

8.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,400 (2020 - £2,400). Contributions totalling £NIL (2020 - £NIL) were payable to the fund at the balance sheet date.

9.	Related party transactions
	During the year no transactions with related parties occurred.

10.	Controlling party

There is no overall controlling party.

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