Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity32trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09444908 2023-04-01 2024-03-31 09444908 2022-03-01 2023-03-31 09444908 2024-03-31 09444908 2023-03-31 09444908 c:Director1 2023-04-01 2024-03-31 09444908 d:ComputerEquipment 2023-04-01 2024-03-31 09444908 d:ComputerEquipment 2024-03-31 09444908 d:ComputerEquipment 2023-03-31 09444908 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09444908 d:CurrentFinancialInstruments 2024-03-31 09444908 d:CurrentFinancialInstruments 2023-03-31 09444908 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09444908 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09444908 d:ShareCapital 2024-03-31 09444908 d:ShareCapital 2023-03-31 09444908 d:RetainedEarningsAccumulatedLosses 2024-03-31 09444908 d:RetainedEarningsAccumulatedLosses 2023-03-31 09444908 c:FRS102 2023-04-01 2024-03-31 09444908 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09444908 c:FullAccounts 2023-04-01 2024-03-31 09444908 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09444908 2 2023-04-01 2024-03-31 09444908 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 09444908









IQ FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
IQ FILMS LIMITED
REGISTERED NUMBER: 09444908

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,243
1,140

  
2,243
1,140

Current assets
  

Debtors
  
26,365
290

Cash at bank and in hand
  
224,412
512,608

  
250,777
512,898

Creditors: amounts falling due within one year
 4 
(11,738)
(143,799)

Net current assets
  
 
 
239,039
 
 
369,099

Total assets less current liabilities
  
241,282
370,239

  

Net assets
  
241,282
370,239


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
241,272
370,229

  
241,282
370,239


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2024.




M Iqbal
Director
Page 1

 
IQ FILMS LIMITED
REGISTERED NUMBER: 09444908
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
IQ FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

IQ Films Limited is a private company limited by shares, and is registered in England and Wales. Its registered office is 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied during the period and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 3

 
IQ FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.12

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 4

 
IQ FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Employees

31 March
Period ended
31 March
2024
2023
£
£

Wages and salaries
25,140
9,100

Social security costs
183
-

25,323
9,100


The average monthly number of employees, including directors, during the period was 3 (2023 - 2).


4.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
3,468
71,966

Other taxation and social security
183
63,883

Other creditors
951
1,421

Accruals and deferred income
7,136
6,529

11,738
143,799


Page 5

 
IQ FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2023
1,520


Additions
1,745



At 31 March 2024

3,265



Depreciation


At 1 April 2023
380


Charge for the period on owned assets
642



At 31 March 2024

1,022



Net book value



At 31 March 2024
2,243



At 31 March 2023
1,140


6.


Related party transactions

At the balance sheet date, the company owed £951 to M Iqbal (2023 £1,412), a director of the company.

 
Page 6