Company Registration No. 04619981 (England and Wales)
Qualifi Limited
Unaudited accounts
for the year ended 31 December 2025
Qualifi Limited
Unaudited accounts
Contents
Qualifi Limited
Company Information
for the year ended 31 December 2025
Directors
Mr Jason Goodyear
Dr Penelope Jane Hood
Dr Christine Claire Goodyear
Company Number
04619981 (England and Wales)
Registered Office
Fairway House, George Street
Prestwich
Manchester
Lancashire
M25 9WS
ENGLAND
Accountants
1040 Tax Solutions
Fairways House
George Street
Prestwich
Manchester
M25 9WS
Qualifi Limited
Statement of financial position
as at 31 December 2025
Cash at bank and in hand
7,310,166
4,125,156
Creditors: amounts falling due within one year
(487,743)
(468,749)
Net current assets
6,969,837
4,654,365
Total assets less current liabilities
6,970,378
4,655,447
Creditors: amounts falling due after more than one year
(6,709,766)
(4,424,166)
Provisions for liabilities
Net assets
260,612
230,686
Called up share capital
200
200
Profit and loss account
260,412
230,486
Shareholders' funds
260,612
230,686
For the year ending 31 December 2025 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 4 March 2026 and were signed on its behalf by
Mr Jason Goodyear
Director
Company Registration No. 04619981
Qualifi Limited
Notes to the Accounts
for the year ended 31 December 2025
Qualifi Limited is a private company, limited by shares, registered in England and Wales, registration number 04619981. The registered office is Fairway House, George Street, Prestwich, Manchester, Lancashire, M25 9WS, ENGLAND.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development Costs
33% Straight Line
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:
Plant & machinery
33% Straight Line/25% reducing balance
Fixtures & fittings
33% Straight Line
Qualifi Limited
Notes to the Accounts
for the year ended 31 December 2025
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight-line basis over the term of the relevant lease, except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease's assets are consumed.
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Qualifi Limited
Notes to the Accounts
for the year ended 31 December 2025
4
Intangible fixed assets
Other
At 31 December 2025
14,143
At 31 December 2025
14,143
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2025
25,322
6,124
31,446
At 31 December 2025
25,322
6,124
31,446
At 1 January 2025
25,322
5,042
30,364
Charge for the year
-
541
541
At 31 December 2025
25,322
5,583
30,905
At 31 December 2025
-
541
541
At 31 December 2024
-
1,082
1,082
Amounts falling due within one year
Trade debtors
147,414
157,570
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
100,652
385,160
Taxes and social security
39,647
81,770
Qualifi Limited
Notes to the Accounts
for the year ended 31 December 2025
8
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
6,709,157
1,593,575
Taxes and social security
609
(269,409)
Loans from directors
-
3,100,000
Comparative creditor balances have been restated to correct a prior year allocation error, with no impact on profit or net assets.
9
Transactions with related parties
During the year, the company purchased services totalling £7,010,000 from a provider in which a shareholder holds a joint interest. At the reporting date, £6,709,157 was outstanding.
The comparative director’s loan account balance has been restated to correct a prior year allocation error.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).