Qualitas Training & Consultancy Limited - Period Ending 2016-03-30

QUALITAS TRAINING & CONSULTANCY LIMITED - Company Information

Registration number: 05005317

Qualitas Training & Consultancy Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 March 2016

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Qualitas Training & Consultancy Limited

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2 to 3
Notes to the Abbreviated Accounts	4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Qualitas Training & Consultancy Limited
for the Year Ended 30 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Qualitas Training & Consultancy Limited for the year ended 30 March 2016 set out on pages 2 to 6 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Qualitas Training & Consultancy Limited, as a body, in accordance with the terms of our engagement letter dated 21 June 2005. Our work has been undertaken solely to prepare for your approval the accounts of Qualitas Training & Consultancy Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Qualitas Training & Consultancy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Qualitas Training & Consultancy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Qualitas Training & Consultancy Limited. You consider that Qualitas Training & Consultancy 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 accounts of Qualitas Training & Consultancy 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 accounts.

......................................

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

9 December 2016

Page 1

Qualitas Training & Consultancy Limited

(Registration number: 05005317)
Abbreviated Balance Sheet as at 30 March 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets		333,888	610,279
Investments		22,125	55,305
		356,013	665,584
Current assets
Debtors		10,531	58,578
Cash at bank and in hand		375,442	457,182
		385,973	515,760
Creditors: Amounts falling due within one year		(8,597)	(48,839)
Net current assets		377,376	466,921
Total assets less current liabilities		733,389	1,132,505
Provisions for liabilities		(1,858)	(1,873)
Net assets		731,531	1,130,632
Capital and reserves
Called up share capital	3	1,000	1,000
Revaluation reserve		(24,067)	(9,695)
Profit and loss account		754,598	1,139,327
Shareholders' funds		731,531	1,130,632

For the year ending 30 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 9 December 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Qualitas Training & Consultancy Limited

(Registration number: 05005317)
Abbreviated Balance Sheet as at 30 March 2016

.........................................
Mr G F Fildes
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Qualitas Training & Consultancy Limited

Notes to the Abbreviated Accounts

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance basis
Office equipment	33% straight line basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Page 4

Qualitas Training & Consultancy Limited

Notes to the Abbreviated Accounts

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Fixed assets

	Tangible assets £	Investments £	Total £
Cost
At 31 March 2015	647,847	55,305	703,152
Revaluations	3,808	6,820	10,628
Additions	1,681	-	1,681
Disposals	(279,090)	(40,000)	(319,090)
At 30 March 2016	374,246	22,125	396,371
Depreciation
At 31 March 2015	37,568	-	37,568
Charge for the year	2,790	-	2,790
At 30 March 2016	40,358	-	40,358
Net book value
At 30 March 2016	333,888	22,125	356,013
At 30 March 2015	610,279	55,305	665,584

Page 5

Qualitas Training & Consultancy Limited

Notes to the Abbreviated Accounts

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 6