REGISTERED NUMBER: |
Financial Statements |
for the Period 14 October 2021 to 31 December 2021 |
for |
QS STUDENTAPPLY LTD |
REGISTERED NUMBER: |
Financial Statements |
for the Period 14 October 2021 to 31 December 2021 |
for |
QS STUDENTAPPLY LTD |
QS STUDENTAPPLY LTD (Registered number: 13680658) |
Contents of the Financial Statements |
for the Period 14 October 2021 to 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
QS STUDENTAPPLY LTD |
Company Information |
for the Period 14 October 2021 to 31 December 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
Centurion House |
London Road |
Staines-Upon-Thames |
Surrey |
TW18 4AX |
QS STUDENTAPPLY LTD (Registered number: 13680658) |
Balance Sheet |
31 December 2021 |
Notes | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
QS STUDENTAPPLY LTD (Registered number: 13680658) |
Notes to the Financial Statements |
for the Period 14 October 2021 to 31 December 2021 |
1. | STATUTORY INFORMATION |
QS STUDENTAPPLY LTD is a |
The presentation currency of the financial statements is the Pound Sterling (£) which is its functional currency. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the period 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. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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 period end and that are expected to apply to the reversal of the timing difference. |
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. |
QS STUDENTAPPLY LTD (Registered number: 13680658) |
Notes to the Financial Statements - continued |
for the Period 14 October 2021 to 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Revenue recognition |
Revenues comprise sales after discounts, excluding value added tax. Income is recognised when the significant risks and rewards of ownership of the services are transferred to the client, sales price agreed and the receipt of payment can be assured. Revenue from research project is recognised on completion. Revenue from other services are treated as a single contract where they have been negotiated as a single commercial package and are so closely interrelated that they do not operate independently of each other. |
Deferred income |
Deferred income represents revenue collected and recognised as income in the period when services are to be delivered in later accounting period. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities. |
Shares in subsidiary undertakings |
Shares in subsidiary undertakings are valued at cost less amounts written off. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Share in grp undertaking |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
The company acquired 100% shareholdings in STUDENTAPPLY LTD on 1st November 2021 for a purchase consideration of £3,019,004. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
The amounts owed by the group undertakings are unsecured, interest free and repayable with no fixed payment terms. |
QS STUDENTAPPLY LTD (Registered number: 13680658) |
Notes to the Financial Statements - continued |
for the Period 14 October 2021 to 31 December 2021 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Other creditors |
The amounts owed to the group undertakings are unsecured, interest free and repayable with no fixed payment terms. |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | CAPITAL COMMITMENTS |
£ |
Contracted but not provided for in the |
financial statements |
9. | OTHER FINANCIAL COMMITMENTS |
At the balance sheet date, the company has not entered into any major contractual obligations. |
10. | POST BALANCE SHEET EVENTS |
There are no post balance sheet events which require disclosure in the financial statements for the year under review. |
11. | ULTIMATE CONTROLLING PARTY |
Throughout the year the company was under the control of QS Quacquarellisymonds Ltd by virtue of its ownership of 100% of ordinary share capital since incorporation. |