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REGISTERED NUMBER: 07995026 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Iq Ventures Limited

Iq Ventures Limited (Registered number: 07995026)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Iq Ventures Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Mrs Kerry Ann Cooper





REGISTERED OFFICE: Unit 6, Wylam Road
Mill Trade Park
Liverpool
Merseyside
L134BF





REGISTERED NUMBER: 07995026 (England and Wales)





ACCOUNTANTS: LJS Accounting Services (UK) Ltd
Unit 5, 1st Floor
Connect Business Village
24 Derby Road
Liverpool
Merseyside
L5 9PR

Iq Ventures Limited (Registered number: 07995026)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £   
CURRENT ASSETS
Stocks 4 305,597 140,952
Debtors 5 101,824 9,652
Cash at bank 8,963 2,952
416,384 153,556
CREDITORS
Amounts falling due within one year 6 183,749 49,315
NET CURRENT ASSETS 232,635 104,241
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,635

104,241

CREDITORS
Amounts falling due after more than one
year

7

175,267

50,000
NET ASSETS 57,368 54,241

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 57,367 54,240
SHAREHOLDERS' FUNDS 57,368 54,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 18 August 2022 and were signed by:




Mrs Kerry Ann Cooper - Director


Iq Ventures Limited (Registered number: 07995026)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Iq Ventures 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. STOCKS
31.3.22 31.3.21
£    £   
Stocks 305,597 140,952

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Other debtors 101,824 9,652

Iq Ventures Limited (Registered number: 07995026)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 31,838 8,400
Taxation and social security 33,711 33,298
Other creditors 118,200 7,617
183,749 49,315

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans 175,267 50,000

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained
earnings
£   

At 1 April 2021 54,240
Profit for the year 3,127
At 31 March 2022 57,367