Acorah Software Products - Accounts Production 16.0.110 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 06238014 D A Vaughan D A Vaughan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06238014 2023-07-31 06238014 2024-07-31 06238014 2023-08-01 2024-07-31 06238014 frs-core:CurrentFinancialInstruments 2024-07-31 06238014 frs-core:FurnitureFittings 2024-07-31 06238014 frs-core:FurnitureFittings 2023-08-01 2024-07-31 06238014 frs-core:FurnitureFittings 2023-07-31 06238014 frs-core:NetGoodwill 2024-07-31 06238014 frs-core:NetGoodwill 2023-08-01 2024-07-31 06238014 frs-core:NetGoodwill 2023-07-31 06238014 frs-core:MotorVehicles 2024-07-31 06238014 frs-core:MotorVehicles 2023-08-01 2024-07-31 06238014 frs-core:MotorVehicles 2023-07-31 06238014 frs-core:SharePremium 2024-07-31 06238014 frs-core:ShareCapital 2024-07-31 06238014 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 06238014 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06238014 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 06238014 frs-bus:SmallEntities 2023-08-01 2024-07-31 06238014 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 06238014 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 06238014 frs-bus:Director1 2023-08-01 2024-07-31 06238014 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 06238014 frs-countries:EnglandWales 2023-08-01 2024-07-31 06238014 2022-07-31 06238014 2023-07-31 06238014 2022-08-01 2023-07-31 06238014 frs-core:CurrentFinancialInstruments 2023-07-31 06238014 frs-core:SharePremium 2023-07-31 06238014 frs-core:ShareCapital 2023-07-31 06238014 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 06238014 frs-core:CurrentFinancialInstruments 1 2023-07-31
Registered number: 06238014
Quality Transport Training Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
The Boss Partnership
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06238014
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 35,980 34,637
35,980 34,637
CURRENT ASSETS
Stocks 6 95,460 45,035
Debtors 7 24,849 92,652
Cash at bank and in hand 122,180 162,361
242,489 300,048
Creditors: Amounts Falling Due Within One Year 8 (11,539 ) (24,236 )
NET CURRENT ASSETS (LIABILITIES) 230,950 275,812
TOTAL ASSETS LESS CURRENT LIABILITIES 266,930 310,449
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,836 ) (1,530 )
NET ASSETS 260,094 308,919
CAPITAL AND RESERVES
Called up share capital 9 50 50
Share premium account (244,950 ) (244,950 )
Profit and Loss Account 504,994 553,819
SHAREHOLDERS' FUNDS 260,094 308,919
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
D A Vaughan
Director
19/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Quality Transport Training Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06238014 . The registered office is Offices 1 and 6 Lichfield Business Village, Staffordshire Universty Lichfield Centre, Lichfield, Staffordshire, WS13 9QG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 126,000
As at 31 July 2024 126,000
Amortisation
As at 1 August 2023 126,000
As at 31 July 2024 126,000
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 40,649 85,825 126,474
Additions 6,800 6,262 13,062
As at 31 July 2024 47,449 92,087 139,536
Depreciation
As at 1 August 2023 11,635 80,202 91,837
Provided during the period 8,246 3,473 11,719
As at 31 July 2024 19,881 83,675 103,556
Net Book Value
As at 31 July 2024 27,568 8,412 35,980
As at 1 August 2023 29,014 5,623 34,637
6. Stocks
2024 2023
£ £
Work in progress 95,460 45,035
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,605 42,292
Other debtors 2,616 2,616
Sales reserve - 45,000
Corporation tax recoverable assets 6,628 -
Director's loan account - 2,744
24,849 92,652
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Corporation tax - 10,875
Other taxes and social security 6,261 7,430
Other creditors 1,002 921
Accruals and deferred income 4,175 5,010
Director's loan account 100 -
11,539 24,236
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
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