2023-07-012024-06-302024-06-30false14083000QUALYFI 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QUALYFI LTD

Registered Number
14083000
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

QUALYFI LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

LLOYD, Bryan Gavin
MARLEY, Neil
PENT, Victoria Clare
STODDART, James Richard Bowring
VAN KLINK, Michael

Registered Address

86-90 Paul Street 3rd Floor
London
EC2A 4NE

Registered Number

14083000 (England and Wales)
QUALYFI LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,3165,889
3,3165,889
Current assets
Debtors162,90571,057
Cash at bank and on hand677,98716,828
840,89287,885
Creditors amounts falling due within one year(131,561)(135,674)
Net current assets (liabilities)709,331(47,789)
Total assets less current liabilities712,647(41,900)
Creditors amounts falling due after one year(331,071)(286,122)
Net assets381,576(328,022)
Capital and reserves
Called up share capital211126
Share premium1,107,731108,196
Profit and loss account(726,366)(436,344)
Shareholders' funds381,576(328,022)
The financial statements were approved and authorised for issue by the Board of Directors on 12 August 2024, and are signed on its behalf by:
VAN KLINK, Michael
Director
Registered Company No. 14083000
QUALYFI LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue from the provision of Consultants to third party clients is recognised as follows: - The revenue is recognised in the period in which the Consultants perform the work at the agreed contracted rates for each Consultant. Revenue is based on timesheets from our Consultants which are authorised by the Company's clients, detailing the hours and services provided; - If advance payments are made by clients, these are deferred and the income recognised in the period in which the Consultants perform the work; and - Revenue in respect of outstanding timesheets is accrued based on actual time work pending submission of the timesheet to the client for approval or accrued based on estimates at the contract value. Sales invoices are issued following the fulfilment of the company's performance obligations, confirmed by the receipt of approved timesheets. Invoices are due for payment in line with contractual credit terms.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year2514
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 237,719
At 30 June 247,719
Depreciation and impairment
At 01 July 231,830
Charge for year2,573
At 30 June 244,402
Net book value
At 30 June 243,316
At 30 June 235,889