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REGISTERED NUMBER: 07876376 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

QED Financial Associates Ltd

QED Financial Associates Ltd (Registered number: 07876376)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


QED Financial Associates Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Mr W N Harper
Mr M A Sanderson





REGISTERED OFFICE: Regents Court
St. Mary's Street
Penistone
Sheffield
South Yorkshire
S36 6DT





REGISTERED NUMBER: 07876376 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

QED Financial Associates Ltd (Registered number: 07876376)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 151,077 193,611
151,077 193,611

CURRENT ASSETS
Debtors 7 106,595 104,874
Cash at bank and in hand 466,142 411,411
572,737 516,285
CREDITORS
Amounts falling due within one year 8 213,381 160,281
NET CURRENT ASSETS 359,356 356,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

510,433

549,615

CREDITORS
Amounts falling due after more than one
year

9

(107,633

)

(130,548

)

PROVISIONS FOR LIABILITIES (28,705 ) (36,786 )
NET ASSETS 374,095 382,281

CAPITAL AND RESERVES
Called up share capital 10 6 6
Retained earnings 374,089 382,275
SHAREHOLDERS' FUNDS 374,095 382,281

QED Financial Associates Ltd (Registered number: 07876376)

Balance Sheet - continued
31 March 2022


The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2022 and were signed on its behalf by:





Mr M A Sanderson - Director


QED Financial Associates Ltd (Registered number: 07876376)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

QED Financial Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention. The Covid-19 pandemic has adversely impacted on global and UK societies and economies, and this impact has continued into the 2022/2023 financial year. However in the directors' opinion there is no significant uncertainty as to the going concern basis.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

All fixed assets are initially recorded at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


QED Financial Associates Ltd (Registered number: 07876376)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

3. ACCOUNTING POLICIES - continued
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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 110,000
AMORTISATION
At 1 April 2021
and 31 March 2022 110,000
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 -

QED Financial Associates Ltd (Registered number: 07876376)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2021 91,493 199,780 291,273
Additions 3,156 - 3,156
At 31 March 2022 94,649 199,780 294,429
DEPRECIATION
At 1 April 2021 47,717 49,945 97,662
Charge for year 8,231 37,459 45,690
At 31 March 2022 55,948 87,404 143,352
NET BOOK VALUE
At 31 March 2022 38,701 112,376 151,077
At 31 March 2021 43,776 149,835 193,611

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 71,743 68,522
Other debtors 34,852 36,352
106,595 104,874

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 22,915 22,915
Taxation and social security 131,673 71,116
Other creditors 58,793 66,250
213,381 160,281

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Hire purchase contracts 107,633 130,548

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary A £1 2 2
2 Ordinary B £1 2 2
2 Ordinary C £1 2 2
6 6

QED Financial Associates Ltd (Registered number: 07876376)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
Mr W N Harper
Balance outstanding at start of year 28,585 27,915
Amounts advanced - 670
Amounts repaid (840 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,745 28,585