Company Registration No. 13705246 (England and Wales)
Qualicon Global Ltd
Unaudited accounts
for the year ended 31 October 2024
Qualicon Global Ltd
Unaudited accounts
Contents
Qualicon Global Ltd
Company Information
for the year ended 31 October 2024
Directors
Alex Deane
Anthony McGaw
Company Number
13705246 (England and Wales)
Registered Office
Tog East Side
Kings Cross Station Kings Cross
London
N1C 4AX
United Kingdom
Accountants
Arandur Accounting Limited
3 Mersey Road
Worthing
West Sussex
BN13 3NQ
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Qualicon Global Ltd
for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Qualicon Global Ltd for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of Qualicon Global Ltd, as a body, in accordance with the terms of our engagement letter dated 30 March 2022. Our work has been undertaken solely to prepare for your approval the accounts of Qualicon Global Ltd and state those matters that we have agreed to state to the Board of Directors of Qualicon Global Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Qualicon Global Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Qualicon Global Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Qualicon Global Ltd. You consider that Qualicon Global Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Qualicon Global Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Arandur Accounting Limited
Member in Practice
3 Mersey Road
Worthing
West Sussex
BN13 3NQ
28 July 2025
Qualicon Global Ltd
Statement of financial position
as at 31 October 2024
Intangible assets
118,026
-
Tangible assets
1,664
2,269
Cash at bank and in hand
120,754
144,171
Creditors: amounts falling due within one year
(227,477)
(129,847)
Net current (liabilities)/assets
(78,638)
25,341
Called up share capital
4
4
Profit and loss account
41,048
27,606
Shareholders' funds
41,052
27,610
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2025 and were signed on its behalf by
Alex Deane
Director
Company Registration No. 13705246
Qualicon Global Ltd
Notes to the Accounts
for the year ended 31 October 2024
Qualicon Global Ltd is a private company, limited by shares, registered in England and Wales, registration number 13705246. The registered office is Tog East Side, Kings Cross Station Kings Cross, London, N1C 4AX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 October 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 November 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
In preparing these financial statements, the directors have made the following judgements:
Capitalisation of development costs: The directors have assessed whether the criteria for capitalisation under FRS 102 Section 18 have been met for development expenditure. This includes evaluating the technical feasibility, intention and ability to complete the project, and the likelihood of generating future economic benefits.
Useful economic life of intangible assets: The company amortises development costs over a period of 3 to 5 years. The directors review this estimate annually based on the expected commercial life of the certification system.
The financial statements have been prepared on a going concern basis. The directors have reviewed the company’s forecasts and projections and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
5
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Qualicon Global Ltd
Notes to the Accounts
for the year ended 31 October 2024
Development costs are recognised as intangible assets when all of the following conditions are met:
- The project is clearly defined and the related expenditure is separately identifiable;
- The technical feasibility of completing the intangible asset so that it will be available for use or sale is demonstrated;
- The intention to complete the intangible asset and use or sell it is established;
- The ability to use or sell the intangible asset is demonstrated;
- It is probable that the asset will generate future economic benefits; and
- Adequate technical, financial and other resources are available to complete the development and to use or sell the intangible asset.
Development costs that meet the above criteria are capitalised and amortised on a straight-line basis over their estimated useful economic life, which is typically 3 to 5 years, commencing when the asset is available for use. If the criteria are not met, development expenditure is recognised as an expense in the period in which it is incurred.
The development costs capitalised by the company relate to the creation and enhancement of a proprietary professional certification system, including platform development, content creation, and associated infrastructure.
The carrying value of capitalised development costs is reviewed for indicators of impairment at each reporting date and written down to the recoverable amount if impaired
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Other
At 31 October 2024
135,869
Charge for the year
17,843
At 31 October 2024
118,026
Qualicon Global Ltd
Notes to the Accounts
for the year ended 31 October 2024
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
13,425
4,250
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
4,311
17,071
Taxes and social security
9,707
9,621
Deferred income
213,459
103,155
8
Transactions with related parties
The company has taken advantage of the exemption under FRS 102 Section 33.1A from disclosing transactions with wholly owned group entities. There were no other related party transactions requiring disclosure in the year (2023: none).
9
Post balance sheet events
There have been no significant events affecting the company since the balance sheet date which require disclosure in these financial statements.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).