Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false5falsefalsetrue62023-05-01Provision of education consultancy services 07610296 2023-05-01 2024-04-30 07610296 2022-05-01 2023-04-30 07610296 2024-04-30 07610296 2023-04-30 07610296 c:Director1 2023-05-01 2024-04-30 07610296 d:CurrentFinancialInstruments 2024-04-30 07610296 d:CurrentFinancialInstruments 2023-04-30 07610296 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07610296 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07610296 d:ShareCapital 2024-04-30 07610296 d:ShareCapital 2023-04-30 07610296 d:RetainedEarningsAccumulatedLosses 2024-04-30 07610296 d:RetainedEarningsAccumulatedLosses 2023-04-30 07610296 c:OrdinaryShareClass1 2023-05-01 2024-04-30 07610296 c:OrdinaryShareClass1 2024-04-30 07610296 c:OrdinaryShareClass1 2023-04-30 07610296 c:FRS102 2023-05-01 2024-04-30 07610296 c:Audited 2023-05-01 2024-04-30 07610296 c:FullAccounts 2023-05-01 2024-04-30 07610296 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07610296 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07610296 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07610296














QUINTESSENTIALLY EDUCATION LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
QUINTESSENTIALLY EDUCATION LIMITED
 

CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 5


 
QUINTESSENTIALLY EDUCATION LIMITED
REGISTERED NUMBER:07610296

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
559,233
539,501

Bank and cash balances
  
15,451
26,466

  
574,684
565,967

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(185,960)
(159,898)

Net assets
  
388,724
406,069


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
388,624
405,969

  
388,724
406,069


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 comprehensive income 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 28 January 2025.




B W Elliot
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
QUINTESSENTIALLY EDUCATION LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Quintessentially Education Limited is a private limited liability company incorporated in England and Wales with its business and registered office address at 29 Portland Palace, London, W1B 1QB.
The principal activity of the Company is the provision of education consultancy services.

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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

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.

 
2.3

Revenue

Turnover represents revenue recognised by the Company in respect of education consultancy and tutoring services supplied and referral commissions earned during the year, exclusive of Value Added Tax.
Education consultancy receipts are received in advance and recognised as deferred revenue. The deferred revenue is released upon completion of the service provided.
Tuition revenue is deferred over the course of the tuition period. The Company agrees a periodic system of invoicing with the client in advance. Advance receipts are recognised as deferred revenue which is subsequently released periodically in line with the agreed schedule.
Referral commission turnover is recognised upon completion of the consultancy services which the Company has referred to a third-party. Turnover is accrued on this date and subsequently released upon receipt.

Page 2

 
QUINTESSENTIALLY EDUCATION LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan
The Company contributes to 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.

 
2.5

Debtors

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

 
2.6

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.

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

 
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.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


Basic financial assets and liabilities
Basic financial assets and liabilities, which include trade and other debtors, cash and bank balances,  trade and other creditors, are initially measured at their transaction prices and are subsequently carried at their amortised cost using the effective interest method.
 


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 6).

Page 3

 
QUINTESSENTIALLY EDUCATION LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Debtors

2024
2023
£
£


Trade debtors
82,055
52,379

Amounts owed by group undertakings
475,361
487,122

Prepayments and accrued income
1,817
-

559,233
539,501



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
34,507
31,380

Other taxation and social security
56,487
32,089

Other creditors
15,796
-

Accruals and deferred income
79,170
96,429

185,960
159,898



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £0.01 each
100
100



7.


Contingent liabilities

The company is party to an inter-company fixed and floating charge over the assets of the group. The potential liability under the terms of the guarantee at the Statement of Financial Position date was £12.5m (2023 - £12.5m).


8.


Related party transactions

The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.

Page 4

 
QUINTESSENTIALLY EDUCATION LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Controlling party

The company is a wholly-owned subsidiary of Quintessentially (UK) Limited, a company registered in England and Wales. Quintessentially (UK) Limited is the parent company of the largest and smallest group of which Quintessentially Education Limited is a member and for which group financial statements are drawn up. The registered office of Quintessentially (UK) Limited is at Portland Place, London W1B 1QB. Copies of the consolidated financial statements are available from the Registrar of Companies. 
The directors regard A T Simpson, B W Elliot and WFS UK Holding Partnership LP as the ultimate controlling parties. 


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 28 January 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 5