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REGISTERED NUMBER: 05970091 (England and Wales)















QAI SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






QAI SERVICES LIMITED (REGISTERED NUMBER: 05970091)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


QAI SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P Knight
N R Ellson
J J Campion
A Travers
R A Whitehead
G Elliman
O Edwards
S Kidd
K P Savage



REGISTERED OFFICE: Socotec House Bretby Business Park
Ashby Road
Bretby
Burton Upon Trent
DE15 0YZ



REGISTERED NUMBER: 05970091 (England and Wales)



SENIOR STATUTORY AUDITOR: Timothy Godson FCA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

QAI SERVICES LIMITED (REGISTERED NUMBER: 05970091)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,879 22,490
Tangible assets 5 75,433 106,265
91,312 128,755

CURRENT ASSETS
Debtors 6 5,118,303 1,064,243
Cash at bank 605,881 2,185,185
5,724,184 3,249,428
CREDITORS
Amounts falling due within one year 7 4,206,236 3,041,341
NET CURRENT ASSETS 1,517,948 208,087
TOTAL ASSETS LESS CURRENT LIABILITIES 1,609,260 336,842

PROVISIONS FOR LIABILITIES 10,844 17,032
NET ASSETS 1,598,416 319,810

CAPITAL AND RESERVES
Called up share capital 9 1,200 1,200
Share premium 44,685 44,685
Capital redemption reserve 300 300
Retained earnings 1,552,231 273,625
SHAREHOLDERS' FUNDS 1,598,416 319,810

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:





J J Campion - Director


QAI SERVICES LIMITED (REGISTERED NUMBER: 05970091)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

QAI Services Limited 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 currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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 represents amounts chargeable to clients for professional services provided during the period excluding Value Added Tax.

Application fees are recognised at date of invoice. Site fee income is deferred at the date of invoicing and released to the statement of income and retained earnings over the duration of the . projects. The balance of site fee income not released to the statement of income and retained earnings is carried in the statement of financial position as deferred income.

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.

Software development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

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 statement of financial position date.

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.

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.

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 the income statement in the period to which they relate.

QAI SERVICES LIMITED (REGISTERED NUMBER: 05970091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 140 (2022 - 125 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 56,665
AMORTISATION
At 1 January 2023 34,175
Charge for year 6,611
At 31 December 2023 40,786
NET BOOK VALUE
At 31 December 2023 15,879
At 31 December 2022 22,490

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 383,496
Additions 23,705
At 31 December 2023 407,201
DEPRECIATION
At 1 January 2023 277,231
Charge for year 54,537
At 31 December 2023 331,768
NET BOOK VALUE
At 31 December 2023 75,433
At 31 December 2022 106,265

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,246,645 827,661
Amounts owed by group undertakings 3,700,720 -
Other debtors 170,938 236,582
5,118,303 1,064,243

QAI SERVICES LIMITED (REGISTERED NUMBER: 05970091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 242 -
Trade creditors 169,373 121,629
Amounts owed to group undertakings 1,027,662 5,562
Taxation and social security 784,079 504,907
Other creditors 2,224,880 2,409,243
4,206,236 3,041,341

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 327,818
Between one and five years - 254,706
- 582,524

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,200 Ordinary £1 1,200 1,200

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Timothy Godson FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

11. ULTIMATE CONTROLLING PARTY

The parent undertaking and the smallest and largest Group of which the company was a member during the year and for which the group financial statements were prepared was SOCO 1, a company incorporated in France.

Copies of the SOCO 1 group financial statements are available to the public at the following address:

5 Place des Freres Montgolfier,
78280 Guyancourt,
France