Company Registration No. 07839285 (England and Wales)
Quality Of Life Productions UK Limited
Unaudited financial statements
For the year ended 31 December 2023
Pages for filing with registrar
QUALITY OF LIFE PRODUCTIONS UK LIMITED
Quality Of Life Productions UK Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
QUALITY OF LIFE PRODUCTIONS UK LIMITED
Quality Of Life Productions UK Limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
37,828
49,598
Cash at bank and in hand
176,908
271,586
214,736
321,184
Creditors: amounts falling due within one year
4
(94,930)
(199,424)
Net current assets
119,806
121,760
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
119,805
121,759
Total equity
119,806
121,760

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
L Sutherland
Director
Company registration number 07839285 (England and Wales)
QUALITY OF LIFE PRODUCTIONS UK LIMITED
Quality Of Life Productions UK Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Quality Of Life Productions UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents royalty income and is included on a receivable basis and amounts receivable for the provision of tour productions services and licence fees. Turnover is recognised at the point the services are provided.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees
2023
2022
Average number of employees including directors
-
0
-
QUALITY OF LIFE PRODUCTIONS UK LIMITED
Quality Of Life Productions UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Employees
(Continued)
- 3 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
20,751
27,112
Other debtors
17,077
22,486
37,828
49,598
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
1,029
Amounts owed to group undertakings
91,468
145,895
Other creditors
3,462
52,500
94,930
199,424

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

5
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
6
Parent company

The ultimate parent company is Quality of Life Canada Inc. by virtue of its 100% shareholding in the company. Quality of Life Canada Inc is a company registered in Canada.

7
Related Party Transactions

The company has taken advantage of the exemption available in accordance with FRS 102 Section 1A paragraph 1AC.35 not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is a party to the transactions with.

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