Caseware UK (AP4) 2023.0.135 2023.0.135 002023-01-01truefalseNo description of principal activity5742truefalse 04124971 2023-01-01 2023-12-31 04124971 2022-01-01 2022-12-31 04124971 2023-12-31 04124971 2022-12-31 04124971 c:Director5 2023-01-01 2023-12-31 04124971 c:Director6 2023-01-01 2023-12-31 04124971 c:RegisteredOffice 2023-01-01 2023-12-31 04124971 d:Buildings 2023-01-01 2023-12-31 04124971 d:Buildings 2023-12-31 04124971 d:Buildings 2022-12-31 04124971 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04124971 d:PlantMachinery 2023-01-01 2023-12-31 04124971 d:PlantMachinery 2023-12-31 04124971 d:PlantMachinery 2022-12-31 04124971 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04124971 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04124971 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 04124971 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 04124971 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 04124971 d:Goodwill 2023-01-01 2023-12-31 04124971 d:Goodwill 2023-12-31 04124971 d:Goodwill 2022-12-31 04124971 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 04124971 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 04124971 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 04124971 d:CurrentFinancialInstruments 2023-12-31 04124971 d:CurrentFinancialInstruments 2022-12-31 04124971 d:Non-currentFinancialInstruments 2023-12-31 04124971 d:Non-currentFinancialInstruments 2022-12-31 04124971 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04124971 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04124971 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04124971 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04124971 d:ShareCapital 2023-12-31 04124971 d:ShareCapital 2022-12-31 04124971 d:RetainedEarningsAccumulatedLosses 2023-12-31 04124971 d:RetainedEarningsAccumulatedLosses 2022-12-31 04124971 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04124971 c:OrdinaryShareClass1 2023-12-31 04124971 c:OrdinaryShareClass1 2022-12-31 04124971 c:OrdinaryShareClass2 2023-01-01 2023-12-31 04124971 c:OrdinaryShareClass2 2023-12-31 04124971 c:OrdinaryShareClass2 2022-12-31 04124971 c:FRS102 2023-01-01 2023-12-31 04124971 c:Audited 2023-01-01 2023-12-31 04124971 c:FullAccounts 2023-01-01 2023-12-31 04124971 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04124971 d:WithinOneYear 2023-12-31 04124971 d:WithinOneYear 2022-12-31 04124971 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04124971 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04124971 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04124971 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04124971 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04124971















LEADING QUALITY ASSURANCE LIMITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


31 December 2023
























 
LEADING QUALITY ASSURANCE LIMITED
 
 
Company Information


Directors
M Bornitz 
E Hooper 




Registered number
04124971



Registered office
Bromley Old Town Hall
30 Tweedy Road

Bromley

BR1 3FE




Independent auditor
Sayers Butterworth LLP
Chartered Accountants and Statutory Auditors

3rd Floor

12 Gough Square

London

EC4A 3DW





 
LEADING QUALITY ASSURANCE LIMITED
Registered number: 04124971

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
14,651
22,130

Tangible fixed assets
 5 
39,249
37,082

  
53,900
59,212

Current assets
  

Debtors: amounts falling due within one year
 6 
3,072,227
2,631,619

Cash at bank and in hand
  
444,472
647,571

  
3,516,699
3,279,190

Creditors: amounts falling due within one year
 7 
(10,506,406)
(10,652,805)

Net current liabilities
  
 
 
(6,989,707)
 
 
(7,373,615)

Total assets less current liabilities
  
(6,935,807)
(7,314,403)

Creditors: amounts falling due after more than one year
 8 
(79,167)
(129,167)

  

Net liabilities
  
(7,014,974)
(7,443,570)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(7,015,074)
(7,443,670)

  
(7,014,974)
(7,443,570)


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 profit and loss account 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 on 16 October 2024.



E Hooper
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 1

 
LEADING QUALITY ASSURANCE LIMITED
Registered number: 04124971
    
Balance sheet (continued)
As at 31 December 2023


Page 2

 
LEADING QUALITY ASSURANCE LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

1.


General information

Leading Quality Assurance Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is Bromley Old Town Hall, 30 Tweedy Road, Bromley, England, BR1 3FE.
The principal activity of the company continued to be that of hotel inspection.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis despite an excess of liabilities over total assets of £7,014,974 due to the impact of COVID-19 on the company's activity in 2020 and 2021. These circumstances, extraordinary in nature and extent, had significant direct and indirect repercussions on economic activity in general and on the company's activities in those years. There has been significant improvement in activity in 2022 and 2023 and the company made a profit before tax for 2023 of £857,146 and turnover and profit for 2024 to date has significantly increased.
The directors consider the going concern basis to be appropriate since the company's ultimate controlling party has confirmed that it will provide the company with whatever financial support may be necessary in order to enable to the company to meet its liabilities and commitments as they fall due in the foreseeable future. 

Page 3

 
LEADING QUALITY ASSURANCE LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done during the year, which includes estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Research and development

Research and development expenditure is written off against profits in the year in which it is incurred.

 
2.7

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.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
LEADING QUALITY ASSURANCE LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

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 Profit and loss account over its useful economic life.
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Intellectual Property Rights
-
10 years
Customer Contracts
-
6-30 months

Page 5

 
LEADING QUALITY ASSURANCE LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.11

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:

Leasehold improvements
-
33% straight line
Fixtures & Fittings
-
25% - 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 57 (2022 - 42).

Page 6

 
LEADING QUALITY ASSURANCE LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

4.


Intangible assets




Goodwill
Intellectual Property Rights
Customer contracts
Total

£
£
£
£



Cost


At 1 January 2023
1,005,459
74,790
552,549
1,632,798


Disposals
(1,005,459)
-
(552,549)
(1,558,008)



At 31 December 2023

-
74,790
-
74,790



Amortisation


At 1 January 2023
1,005,459
52,660
552,549
1,610,668


Charge for the year on owned assets
-
7,479
-
7,479


On disposals
(1,005,459)
-
(552,549)
(1,558,008)



At 31 December 2023

-
60,139
-
60,139



Net book value



At 31 December 2023
-
14,651
-
14,651



At 31 December 2022
-
22,130
-
22,130



Page 7

 
LEADING QUALITY ASSURANCE LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

5.


Tangible fixed assets





Land and buildings
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 January 2023
34,094
178,422
212,516


Additions
701
32,367
33,068


Disposals
(14,047)
(68,149)
(82,196)



At 31 December 2023

20,748
142,640
163,388



Depreciation


At 1 January 2023
34,094
141,340
175,434


Charge for the year on owned assets
701
30,200
30,901


Disposals
(14,047)
(68,149)
(82,196)



At 31 December 2023

20,748
103,391
124,139



Net book value



At 31 December 2023
-
39,249
39,249



At 31 December 2022
-
37,082
37,082


6.


Debtors

2023
2022
£
£


Trade debtors
1,886,665
1,829,114

Amounts owed by group undertakings
860,888
414,028

Other debtors
324,674
226,505

Corporation tax recoverable
-
161,972

3,072,227
2,631,619


Page 8

 
LEADING QUALITY ASSURANCE LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
50,000
50,000

Trade creditors
23,378
59,747

Amounts owed to group undertakings
9,102,413
9,272,507

Corporation tax
266,578
-

Other taxation and social security
83,791
83,402

Other creditors
644,413
442,579

Accruals and deferred income
335,833
744,570

10,506,406
10,652,805



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
79,167
129,167

79,167
129,167


The bank loan is secured by way of a fixed and floating charge over all property and assets of the company.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



55 (2022 - 55) Ordinary A shares of £1.00 each
55
55
45 (2022 - 45) Ordinary B shares of £1.00 each
45
45

100

100



10.


Comparative figures

Certain comparatives in the 2022 Notes to the Financial Statements have been restated to conform with the 2023 presentation. There is no effect on the profit for the financial year in either period. 

Page 9

 
LEADING QUALITY ASSURANCE LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 December 2023

11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
105,300
23,005

105,300
23,005


12.


Related party transactions

The company has adopted the exemption permitted by paragraph 33.1A of FRS 102 and has not disclosed transactions with other group members, which are wholly owned subsidiaries.


13.


Parent undertaking

The parent company of the smallest group of which Leading Quality Assurance Limited is a member and consolidated accounts are prepared is LQA Holdingco LLC. Their registered office is 301 Commerce St, Suite 1600, Fort Worth, TX 76102


14.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 16 October 2024 by Andrew Burch (Senior statutory auditor) on behalf of Sayers Butterworth LLP.

 
Page 10