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Registration number: 10628881

Qed Education Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Qed Education Group Limited

Contents
for the Year Ended 31 March 2023

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Qed Education Group Limited

Company Information
for the Year Ended 31 March 2023

Director

Ms Q Li

Registered office

Castle Hill House
12 Castle Hill
Windsor
Berkshire
SL4 1PD

Registered number

10628881 ( England and Wales )

Accountants

Windsor Accountancy Ltd
Chartered Certified Accountants
St. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Qed Education Group Limited

(Registration number: 10628881)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

39,251

51,244

Current assets

 

Debtors

5

73,162

41,733

Cash at bank and in hand

 

543,992

481,093

 

617,154

522,826

Creditors: Amounts falling due within one year

6

(208,436)

(124,853)

Net current assets

 

408,718

397,973

Total assets less current liabilities

 

447,969

449,217

Creditors: Amounts falling due after more than one year

6

(54,024)

(90,340)

Provisions for liabilities

(8,085)

(9,736)

Net assets

 

385,860

349,141

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

23,880

23,880

Retained earnings

360,980

324,261

Shareholders' funds

 

385,860

349,141

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Qed Education Group Limited

(Registration number: 10628881)
Balance Sheet as at 31 March 2023

Approved and authorised by the director on 18 October 2023
 

.........................................
Ms Q Li
Director

 

Qed Education Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Castle Hill House
12 Castle Hill
Windsor
Berkshire
SL4 1PD

These financial statements were authorised for issue by the director on 18 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Qed Education Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and Fittings

20% on cost

Computer Equipment

20% on cost

Motor Vehicles

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Qed Education Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2022 - 9).

 

Qed Education Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

13,301

50,690

63,991

At 31 March 2023

13,301

50,690

63,991

Depreciation

At 1 April 2022

6,833

5,914

12,747

Charge for the year

1,855

10,138

11,993

At 31 March 2023

8,688

16,052

24,740

Carrying amount

At 31 March 2023

4,613

34,638

39,251

At 31 March 2022

6,468

44,776

51,244

5

Debtors

Current

2023
£

2022
£

Trade debtors

22,389

38,662

Prepayments

3,593

525

Other debtors

47,180

2,546

 

73,162

41,733

 

Qed Education Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

33,754

31,998

Trade creditors

 

4,771

1,106

Taxation and social security

 

15,762

8,190

Accruals and deferred income

 

41,885

73,930

Other creditors

 

112,264

9,629

 

208,436

124,853

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

54,024

90,340

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

46,826

69,244

Hire purchase contracts

7,198

21,096

54,024

90,340

2023
£

2022
£

Current loans and borrowings

Bank borrowings

19,856

18,763

Hire purchase contracts

13,898

13,235

33,754

31,998

 

Qed Education Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Related party transactions

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Advances and credits

(3,877)

44,720

-

40,842

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Advances and credits

(13,054)

24,377

(15,200)

(3,877)

         
       

 

Other transactions with the director

The balance due from the director at the year end date was deemed repayable on demand. Interest was charged at 2% on the outstanding balance.