Company Registration No. 10485531 (England and Wales)
QUALIA CARE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
PAGES FOR FILING WITH REGISTRAR
QUALIA CARE HOLDINGS LIMITED
COMPANY INFORMATION
Director
Mr R S Forster
Company number
10485531
Registered office
28 Park Place
2nd Floor
St.James House
Leeds
LS1 2SP
Accountants
Hentons
Northgate
118 North Street
Leeds
West Yorkshire
LS2 7PN
QUALIA CARE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
QUALIA CARE HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2020
30 November 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investment properties
4
200,000
200,000
Investments
5
240,000
240,000
440,000
440,000
Current assets
Debtors
6
1
1
Creditors: amounts falling due within one year
7
(296,961)
(291,188)
Net current liabilities
(296,960)
(291,187)
Total assets less current liabilities
143,040
148,813
Provisions for liabilities
(28,500)
(28,500)
Net assets
114,540
120,313
Capital and reserves
Called up share capital
1
1
Revaluation reserve
8
121,500
121,500
Profit and loss reserves
(6,961)
(1,188)
Total equity
114,540
120,313
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
QUALIA CARE HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2020
30 November 2020
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 31 August 2021
Mr R S Forster
Director
Company Registration No. 10485531
QUALIA CARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 3 -
1
Accounting policies
Company information
Qualia Care Holdings Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
28 Park Place, 2nd Floor, St.James House, Leeds, United Kingdom, LS1 2SP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
QUALIA CARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
4
Investment property
2020
£
Fair value
At 1 December 2019 and 30 November 2020
200,000
Investment property comprises £200,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30th November 2020 by the Director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
QUALIA CARE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 5 -
5
Fixed asset investments
2020
2019
£
£
Shares in group undertakings and participating interests
240,000
240,000
6
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
1
1
7
Creditors: amounts falling due within one year
2020
2019
£
£
Amounts owed to group undertakings
246,961
241,188
Other creditors
50,000
50,000
296,961
291,188
8
Revaluation reserve
2020
2019
£
£
At the beginning of the year
121,500
Revaluation surplus arising in the year
121,500
At the end of the year
121,500
121,500
9
Related party transactions
At the balance sheet date £296,961 (2020 : £291,188) was owed to a connected companies.