Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312024-05-23falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueNo description of principal activity2023-01-011210true 02166525 2023-01-01 2023-12-31 02166525 2022-01-01 2022-12-31 02166525 2023-12-31 02166525 2022-12-31 02166525 c:Director4 2023-01-01 2023-12-31 02166525 c:Director5 2023-01-01 2023-12-31 02166525 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 02166525 d:PlantMachinery 2023-01-01 2023-12-31 02166525 d:PlantMachinery 2023-12-31 02166525 d:PlantMachinery 2022-12-31 02166525 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02166525 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 02166525 d:MotorVehicles 2023-01-01 2023-12-31 02166525 d:MotorVehicles 2023-12-31 02166525 d:MotorVehicles 2022-12-31 02166525 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02166525 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 02166525 d:FurnitureFittings 2023-01-01 2023-12-31 02166525 d:FurnitureFittings 2023-12-31 02166525 d:FurnitureFittings 2022-12-31 02166525 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02166525 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 02166525 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02166525 d:OtherPropertyPlantEquipment 2023-12-31 02166525 d:OtherPropertyPlantEquipment 2022-12-31 02166525 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02166525 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 02166525 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02166525 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 02166525 d:Goodwill 2023-12-31 02166525 d:Goodwill 2022-12-31 02166525 d:CurrentFinancialInstruments 2023-12-31 02166525 d:CurrentFinancialInstruments 2022-12-31 02166525 d:Non-currentFinancialInstruments 2023-12-31 02166525 d:Non-currentFinancialInstruments 2022-12-31 02166525 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02166525 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02166525 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02166525 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02166525 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 02166525 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 02166525 d:ShareCapital 2023-12-31 02166525 d:ShareCapital 2022-12-31 02166525 d:RetainedEarningsAccumulatedLosses 2023-12-31 02166525 d:RetainedEarningsAccumulatedLosses 2022-12-31 02166525 c:FRS102 2023-01-01 2023-12-31 02166525 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02166525 c:FullAccounts 2023-01-01 2023-12-31 02166525 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02166525 d:Subsidiary1 2023-01-01 2023-12-31 02166525 d:Subsidiary1 1 2023-01-01 2023-12-31 02166525 d:Subsidiary2 2023-01-01 2023-12-31 02166525 d:Subsidiary2 1 2023-01-01 2023-12-31 02166525 2 2023-01-01 2023-12-31 02166525 6 2023-01-01 2023-12-31 02166525 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 02166525 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 02166525 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 02166525 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 02166525 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 02166525










QUALITASSE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
QUALITASSE LIMITED
REGISTERED NUMBER: 02166525

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
5,250
6,000

Tangible assets
 5 
46,880
63,624

Investments
 6 
200
-

  
52,330
69,624

Current assets
  

Stocks
 7 
118,827
138,765

Debtors: amounts falling due within one year
 8 
187,151
183,582

Cash at bank and in hand
  
66,095
110,524

  
372,073
432,871

Creditors: amounts falling due within one year
 9 
(290,013)
(292,306)

Net current assets
  
 
 
82,060
 
 
140,565

Total assets less current liabilities
  
134,390
210,189

Creditors: amounts falling due after more than one year
 10 
(27,622)
(53,231)

  

Net assets
  
106,768
156,958


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
106,668
156,858

  
106,768
156,958


Page 1

 
QUALITASSE LIMITED
REGISTERED NUMBER: 02166525
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






C Layton
M J O'Neil
Director
Director


Date: 23 May 2024
Date:23 May 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

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

1.


General information

The company, which was incorporated and registered in England & Wales, is a privately owned company limited by shares. The registered office is Unit A2 Davy Close, West Ham Industrial Estate, Basingstoke, Hampshire, RG22 6PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

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

2.Accounting policies (continued)

 
2.3

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life of 10 years.

Page 4

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

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
33%
straight-line
Plant & machinery
-
25%
straight-line and 10% straight-line
Motor vehicles
-
25%
straight-line
Fixtures & fittings
-
25%
straight-line
Rental Equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless
Page 5

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

2.Accounting policies (continued)


2.8
Financial instruments (continued)

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 6

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

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 10).

Page 7

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

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
7,500



At 31 December 2023

7,500



Amortisation


At 1 January 2023
1,500


Charge for the year on owned assets
750



At 31 December 2023

2,250



Net book value



At 31 December 2023
5,250



At 31 December 2022
6,000



Page 8

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

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
128,162
31,665
595
66,529
226,951


Additions
3,509
-
-
-
3,509


Disposals
-
(8,995)
-
-
(8,995)



At 31 December 2023

131,671
22,670
595
66,529
221,465



Depreciation


At 1 January 2023
87,020
20,661
595
55,051
163,327


Charge for the year on owned assets
11,302
-
-
5,282
16,584


Charge for the year on financed assets
-
3,669
-
-
3,669


Disposals
-
(8,995)
-
-
(8,995)



At 31 December 2023

98,322
15,335
595
60,333
174,585



Net book value



At 31 December 2023
33,349
7,335
-
6,196
46,880



At 31 December 2022
41,142
11,004
-
11,478
63,624

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
24,383
32,889

Motor vehicles
7,335
11,004

Page 9

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

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
200



At 31 December 2023
200





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Anvil Coffee Limited
Unit A2 Davy Close, West Ham Industrial Estate, Basingstoke, Hants, England, RG22 6PW
Ordinary
100%
H202U Limited
Unit A2 Davy Close, West Ham Industrial Estate, Basingstoke, Hants, England, RG22 6PW
A Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings was as follows:

Name
Aggregate of share capital and reserves
£

Anvil Coffee Limited
100

H202U Limited
100,100


7.


Stocks

2023
2022
£
£

Finished goods and goods for resale
118,827
138,765


Page 10

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

8.


Debtors

2023
2022
£
£


Trade debtors
173,604
168,764

Prepayments and accrued income
13,547
14,818

187,151
183,582



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
10,143
9,893

Trade creditors
225,124
237,818

Amounts owed to group undertakings
200
-

Other taxation and social security
14,403
3,501

Obligations under finance lease and hire purchase contracts
15,466
14,170

Other creditors
22,948
23,299

Accruals and deferred income
1,729
3,625

290,013
292,306



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
14,747
24,890

Net obligations under finance leases and hire purchase contracts
12,875
28,341

27,622
53,231


Other loans consistent of a Business Bounce Back Loan.

Page 11

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

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
10,143
9,893


10,143
9,893


Amounts falling due 2-5 years

Other loans
14,747
24,890


14,747
24,890


24,890
34,783


 
Page 12