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REGISTERED NUMBER: 09460709 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

IQ UK PROPERTIES LIMITED

IQ UK PROPERTIES LIMITED (REGISTERED NUMBER: 09460709)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IQ UK PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: P L Laney





REGISTERED OFFICE: Fiddlers Green
Bell Lane
Cocking
Midhurst
West Sussex
GU29 0HU





REGISTERED NUMBER: 09460709 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Grange House
Grange Road
Midhurst
West Sussex
GU29 9LS

IQ UK PROPERTIES LIMITED (REGISTERED NUMBER: 09460709)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 - -
Investments 5 2,403,520 2,403,520
2,403,520 2,403,520

CURRENT ASSETS
Debtors 6 1,830,333 1,877,032
Cash at bank 11,591 45,826
1,841,924 1,922,858
CREDITORS
Amounts falling due within one year 7 443,264 238,693
NET CURRENT ASSETS 1,398,660 1,684,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,802,180

4,087,685

CREDITORS
Amounts falling due after more than one year 8 1,576,679 1,796,097
NET ASSETS 2,225,501 2,291,588

CAPITAL AND RESERVES
Called up share capital 110 110
Capital contribution reserve 2,722,694 2,722,694
Retained earnings (497,303 ) (431,216 )
2,225,501 2,291,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

IQ UK PROPERTIES LIMITED (REGISTERED NUMBER: 09460709)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 27 November 2023 and were signed by:





P L Laney - Director


IQ UK PROPERTIES LIMITED (REGISTERED NUMBER: 09460709)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

IQ UK Properties 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.

The presentational currency of the financial statements is in Pound Sterling (£) which is rounded to the nearest pound (£).

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.

Preparation of consolidated financial statements
The financial statements contain information about IQ UK Properties 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 3 years
Computer equipment - 3 years

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 1A. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.


IQ UK PROPERTIES LIMITED (REGISTERED NUMBER: 09460709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 March 2022
and 28 February 2023 2,088 1,442 3,530
DEPRECIATION
At 1 March 2022
and 28 February 2023 2,088 1,442 3,530
NET BOOK VALUE
At 28 February 2023 - - -
At 28 February 2022 - - -

IQ UK PROPERTIES LIMITED (REGISTERED NUMBER: 09460709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 March 2022
and 28 February 2023 2,403,520
NET BOOK VALUE
At 28 February 2023 2,403,520
At 28 February 2022 2,403,520

6. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Amounts owed by group undertakings 1,665,023 1,738,416
Other debtors 84,011 84,353
1,749,034 1,822,769

Amounts falling due after more than one year:
Other debtors 81,299 54,263

Aggregate amounts 1,830,333 1,877,032

Other debtors falling due after more than one year are in respect of the company's deferred tax asset.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed to group undertakings 437,000 235,000
Taxation and social security 1,647 -
Other creditors 4,617 3,693
443,264 238,693

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Other creditors 1,576,679 1,796,097

IQ UK PROPERTIES LIMITED (REGISTERED NUMBER: 09460709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


9. RELATED PARTY DISCLOSURES

The ultimate parent company is IQ Holdings Limited. A company incorporated in the British Virgin Islands.

Throughout the year the company was was under the control of Mr S. Khaliq by virtue of his 100%
shareholding in the ultimate parent company.

Mr S. Khaliq has provided a loan to the company and interest has been accrued at a rate of 2.25%. At the balance sheet date the company owed Mr S. Khaliq £1,251,482 (2022 - £1,510,500).

The company maintains a loan account with its fellow group companies. At the balance sheet date the company was owed £1,665,023 (2022 - £1,738,416 ) by its fellow group companies.

At the balance sheet date the company owed £437,000 (2022 - £235,000) to its fellow group company.

At the balance sheet date the company was owed £84,011 (2022 - £84,011) by Living Central Limited, a company associated with the director.

HSBC Bank PLC holds a fixed charge over the company's assets, in respect of bank loan provided to the company's subsidiary.