Registered number
07303469
Quality Safety Training Ltd
Filleted Accounts
29 June 2024
Quality Safety Training Ltd
Registered number: 07303469
Balance Sheet
as at 29 June 2024
Notes 2024 2023
£ £
Fixed assets
Land & buildings 3 113,949 116,948
Tangible assets 4 129,997 80,429
243,946 197,377
Current assets
Stocks 1,000 5,750
Debtors 5 123,303 123,449
Cash at bank and in hand 26,625 36,093
150,928 165,292
Creditors: amounts falling due within one year 6 (140,447) (207,185)
Net current assets/(liabilities) 10,481 (41,893)
Total assets less current liabilities 254,427 155,484
Creditors: amounts falling due after more than one year 7 (96,188) (75,853)
Net assets 158,239 79,631
Capital and reserves
Called up share capital 100 100
Profit and loss account 158,139 79,531
Shareholders' funds 158,239 79,631
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alison Jones
Director
Approved by the board on 3 June 2025
Quality Safety Training Ltd
Notes to the Accounts
for the period from 1 July 2023 to 29 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance method
Motor Vehicles 15% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Land & buildings £
Cost
At 1 July 2023 149,937
At 29 June 2024 149,937
Depreciation
At 1 July 2023 32,989
Provided during the period 2,999
At 29 June 2024 35,988
Net book value
At 29 June 2024 113,949
At 30 June 2023 116,948
4 Tangible fixed assets
Motor vehicles Leasehold improvements Plant and equipment Total
£ £ £ £
Cost
At 1 July 2023 - 76,291 21,100 97,391
Additions 47,749 18,538 3,824 70,111
At 29 June 2024 47,749 94,829 24,924 167,502
Depreciation
At 1 July 2023 - 7,629 9,333 16,962
Charge for the period 7,162 9,483 3,898 20,543
At 29 June 2024 7,162 17,112 13,231 37,505
Net book value
At 29 June 2024 40,587 77,717 11,693 129,997
At 30 June 2023 - 68,662 11,767 80,429
5 Debtors 2024 2023
£ £
Trade debtors 120,850 128,620
Other debtors 2,453 (5,171)
123,303 123,449
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 16,421 16,421
Trade creditors 38,431 25,355
Director’s loan account 40,326 53,598
Taxation and social security costs 29,527 44,381
Other creditors 15,742 67,430
140,447 207,185
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 59,716 75,853
Obligations under finance lease and hire purchase contracts 36,472 -
96,188 75,853
8 Other information
Quality Safety Training Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4-5 Russell Court
Palace Street
Plymouth
PL1 2AS
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