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REGISTERED NUMBER: 03109102 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2024

for

QISOFT LIMITED

QISOFT LIMITED (REGISTERED NUMBER: 03109102)

Contents of the Financial Statements
for the Year Ended 31st December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


QISOFT LIMITED

Company Information
for the Year Ended 31st December 2024







DIRECTORS: Mr K R Luxton
Mr S W J Luxton
Mrs K M Hardy
Mr G Parkinson





REGISTERED OFFICE: 13th Floor Piccadilly Plaza
Manchester
Lancashire
M1 4BT





REGISTERED NUMBER: 03109102 (England and Wales)





ACCOUNTANTS: Harrison Blakeley Accountancy Limited
21 Church Street
Horbury
Wakefield
West Yorkshire
WF4 6LT

QISOFT LIMITED (REGISTERED NUMBER: 03109102)

Balance Sheet
31st December 2024

31/12/24 31/12/23
Notes £    £    £   
FIXED ASSETS
Investments 4 7,987 8,670

CURRENT ASSETS
Debtors 5 149,245 227,480
Cash at bank and in hand 714,533 581,559
863,778 809,039
CREDITORS
Amounts falling due within one year 6 316,246 324,870
NET CURRENT ASSETS 547,532 484,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

555,519

492,839

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Capital redemption reserve 75,580 75,580
Retained earnings 459,939 397,259
555,519 492,839

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd April 2025 and were signed on its behalf by:



Mr S W J Luxton - Director


QISOFT LIMITED (REGISTERED NUMBER: 03109102)

Notes to the Financial Statements
for the Year Ended 31st December 2024


1. STATUTORY INFORMATION

QiSoft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about QiSoft Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1st January 2024 8,670
Revaluations (683 )
At 31st December 2024 7,987
NET BOOK VALUE
At 31st December 2024 7,987
At 31st December 2023 8,670

QISOFT LIMITED (REGISTERED NUMBER: 03109102)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31st December 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2020 1,482
Valuation in 2021 (2 )
Valuation in 2022 876
Valuation in 2023 407
Valuation in 2024 (683 )
Cost 5,907
7,987

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 124,623 189,059
Amounts owed by group undertakings - 11,021
Prepayments and accrued income 24,622 27,400
149,245 227,480

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 3,920 6,847
Amounts owed to group undertakings 16,467 -
Social security and other taxes 17,288 18,516
VAT 8,704 9,001
Other creditors 3,999 5,362
Accrued expenses 265,868 285,144
316,246 324,870

7. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments that are not included on the balance sheet is £18,115 (2023: £24,227).

QISOFT LIMITED (REGISTERED NUMBER: 03109102)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


8. RELATED PARTY DISCLOSURES

QiSoft USA
Wholly owned subsidiary

At the Balance Sheet date the following balances existed:

2024 2023

Included in Loans from Group Undertakings - Debtor £nil £11,021
Included in Loans from Group Undertakings - Creditor £16,467 £nil


No interest is charged on these amounts and there are no fixed terms for repayment.