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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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Q.S. ENTERPRISES LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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Q.S. ENTERPRISES LIMITED |
Q.S. ENTERPRISES LIMITED (REGISTERED NUMBER: 01850377) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Q.S. ENTERPRISES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and |
Statutory Auditors |
50 Seymour Street |
London |
W1H 7JG |
Q.S. ENTERPRISES LIMITED (REGISTERED NUMBER: 01850377) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Q.S. ENTERPRISES LIMITED (REGISTERED NUMBER: 01850377) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Q.S. Enterprises Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year in which the financial statements have been prepared under FRS 102 Section 1A. The |
transition date is 1 April 2015. There is no impact on opening equity and the profit for the comparative year (see |
note 17). |
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The financial statements are presented in Sterling (£). |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Tangible fixed assets |
Leasehold improvements - over the term of the lease |
Furniture, medical and office equipment - over 3 to 5 years |
Computer equipment - over 2 to 3 years |
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The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances |
indicate the carrying value may not be recoverable. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
Q.S. ENTERPRISES LIMITED (REGISTERED NUMBER: 01850377) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged in the profit and loss account on a straight line basis over the |
lease term. |
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Assets held under finance lease, which are leases where substantially all the risk and rewards of ownership of the |
asset have passed to the company, are capitalised in the balance sheet and are depreciated over their useful lives. |
The capital elements of future obligations under finance leases are included as liabilities in the balance sheet. |
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The interest elements of the rental obligations are charged in the profit and loss account over the periods of the |
leases and represent a constant proportion of the balance of the capital repayments outstanding. |
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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. |
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3. | TANGIBLE FIXED ASSETS |
Furniture, |
medical |
and |
Leasehold | office | Computer |
improvements | equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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Disposals |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Q.S. ENTERPRISES LIMITED (REGISTERED NUMBER: 01850377) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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3. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Furniture, |
medical |
and |
office | Computer |
equipment | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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Disposals | ( |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 7) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Gift aid | 815,500 | 1,105,000 |
Amount due to conected party | 188,116 | 115,660 |
Accruals and deferred income |
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Amount owing to group |
undertaking | - | 50,000 |
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Q.S. ENTERPRISES LIMITED (REGISTERED NUMBER: 01850377) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 7) |
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Amount due to group |
undertaking | 1,001,911 | - |
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7. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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8. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Other provisions |
Provisions for liabilities | 75,000 | 75,000 |
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Dilapidati |
on |
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Balance at 1 April 2016 |
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Balance at 31 March 2017 |
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The Company is under an obligation to the landlord to reinstate one of its premises to its original condition at the |
end of the lease term. |
Q.S. ENTERPRISES LIMITED (REGISTERED NUMBER: 01850377) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | RELATED PARTY DISCLOSURES |
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University College London Hospitals Charity (UCLH Charity) is the company's parent undertaking. The director |
Mr P W Brading is the chief executive of UCLH Charity. |
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UCLH Charity exists to support the work of the University College London Hospitals NHS Foundation Trust. |
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Included within turnover is an amount of £641,291 (2016: £912,068) charged by the company to The University |
College London Hospitals NHS Foundation Trust for scanning. |
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Included within administrative expenses is an amount of £121,108 (2016: £291,872) charged to the company by |
the University College London Hospitals NHS Foundation Trust. |
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During the year, professional fees amounting to £16,800 (2016: £16,450) were paid to Wilmington Capital |
Limited, a company in which the director, Mr A J Reed is also a director. |
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Included within interest payable is an amount of £2,120 (2016: £3,863) charged to the company by UCLH |
Charity. Of this amount £1,911 (2016: £729) is outstanding at the year end. |
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Included within debtors less than 1 year at 31 March 2017 is an amount owing from the National Hospital for |
Neurology and Neurosurgery, which is part of the University College London Hospitals NHS Foundation Trust |
of £193,242 (2016: £359,687). |
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Included within creditors less than 1 year at 31 March 2017 is an amount due to The University College London |
Hospitals NHS Foundation Trust of £188,116 (2016: £115,660). |
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Included within creditors more than 1 year at 31 March 2017 is a loan of £1,000,000 (2016: £Nil) from UCLH |
Charity. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is University College London Hospitals Charity, a charitable company limited by |
guarantee (company registration number 09980449 and charity registration number 1165398). The registered |
office address is 5th Floor East, 250 Euston Road, London, NW1 2PG. |
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12. | PENSION COMMITMENTS |
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The company contributes to the personal pension schemes of all employees and one director. Contributions are |
charged in the profit and loss account as they become payable in accordance with the contribution rates agreed |
between the company and the employees. During the year, contributions payable amounted to £61,921 (2016: |
£31,310). There were accrued contributions at the year end of £43,618 (2016: £35,598). |
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13. | FIRST YEAR ADOPTION |
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Transitional relief |
On transition to FRS 102, the company has taken advantage of the following transitional relief: |
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to measure fair value at date of transition to FRS 102 and use as deemed cost on an item of property, plant
and equipment. |