2022-12-01 2023-11-30 09299189 IQ TRADERS LTD false 09299189 2022-12-01 2023-11-30 09299189 uk-bus:Director1 2022-12-01 2023-11-30 09299189 uk-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 09299189 uk-bus:SmallEntities 2022-12-01 2023-11-30 09299189 uk-bus:FullAccounts 2022-12-01 2023-11-30 09299189 uk-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09299189 2022-12-01 09299189 2023-11-30 09299189 2022-11-30 xbrli:pure iso4217:GBP 09299189 2021-12-01 2022-11-30
Company Registration Number : 09299189 (England and Wales)
09299189
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2023-11-30
false
IQ TRADERS LTD
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2022-12-01
IQ TRADERS LTD
Unaudited filleted financial statements
For the year ended 30 November 2023
IQ TRADERS LTD
Contents
For the year ended 30 November 2023

CONTENTS PAGE
Company Information 3
Director's Report 4
Statement of Financial Position 5
Notes to the Financial Statements 6 - 7


IQ TRADERS LTD
Company Information
For the year ended 30 November 2023

Company registration number 09299189 (England and Wales)
Director Irfan PERVAIZ
Registered office address 124 City Road
London
EC1V 2NX
UK
IQ TRADERS LTD
Director's Report
For the year ended 30 November 2023

The director presents his/her report and the Unaudited Financial Statements for the year ended 30 November 2023.
Principal activity
The principal activity of the company continued to be that of selling garments online. This includes the entire process of sourcing, marketing, and distributing clothing products through an e-commerce platform.
Director of the company
The following directors held office during the whole of the period:
Irfan PERVAIZ
Statement of director's responsibilities
The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare such financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), FRS 102 1A

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to;

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent; and
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the special provisions for small companies within Part 15 of the Companies Act 2006.
Approved by the Board of directors and signed on its behalf by:
Irfan PERVAIZ (Director)
Date: 25 July 2024
This report was approved by the board on 2024-07-25 Date: 25 July 2024

4
IQ TRADERS LTD
Statement of Financial Position
For the year ended 30 November 2023

2023 2022
Notes £ £
Fixed assets
Intangible assets 14,082 14,082
Property, plant and equipment 3,750 -
7 17,832 14,082
Current assets
Inventories 32,564 (35,608)
Debtors 2,902 2
Cash and cash equivalents 8,810 34,817
44,275 (789)
Current liabilities
Creditors: Amounts falling due within one year (18,049) (7,553)
Corporation tax payable (537) -
(18,586) (7,553)
Net current assets/(liabilities) 25,689 (8,342)
Total assets less current liabilities 43,521 5,740
Non-current liabilities
Creditors: Amounts falling due after more than one year (15,695) (19,242)
Net assets/(liabilities) 27,826 (13,502)
Capital and reserves
Called up share capital 6 100 100
Retained earnings 27,726 (13,602)
Shareholder's funds 27,826 (13,502)
For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 30 November 2023 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 director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 25 July 2024
.............................
Irfan PERVAIZ (Director)
Company registration number: 09299189
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2023-11-30 30 November 2023
2023 2022
£ £
Fixed Assets 17,832 14,082
Current Assets 44,275 34,817
Prepayments and accrued income 0 2
Creditors: amounts falling due within one year (18,586) (43,161)
Net current assets (liabilities) 25,689 (8,342)
Total assets less current liabilities 43,521 5,740
CREDITORS: Amounts falling due more than one year (15,695) (19,242)
Net Assets (liabilities) 27,826 (13,502)
Capital and Reserves 27,826 (13,502)
For the year ending 30/11/2023 the company was entitled to exemption 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. For the year ending 30-11-2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 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 in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 25 July 2024 2024-07-25 and signed on behalf of the board,
.............................
Irfan PERVAIZ
Director
Company registration number: 09299189
IQ TRADERS LTD
Notes to the Financial Statements
For the year ended 30 November 2023

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 124 City Road, London, EC1V 2NX.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Development costs
Development costs is stated at cost less accumulated depreciation and any accumulated impairment losses. It is amortised over its estimated life of 5 years using the straight-line method. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
Patents
Patents is stated at cost less accumulated depreciation and any accumulated impairment losses. It is amortised over its estimated life of 10 years using the straight-line method. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings
Equipment
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

(4) Critical accounting judgements and key sources of estimation uncertainty
No judgement
No significant judgements or estimates have been made in preparation of these financial statements.

(5) Employees
During the year, the average number of employees including director was 2 (2022 : 2).

(6) Share capital
Alloted, called up and fully paid: 2023 2022
£ £
100 (2022 : 100) Ordinary share of £ 1 each100100
100 100
A ordinary shares hold equal voting rights. B investment shares do not carry any voting rights.
Retained earnings 2023
£
At 1 December 2022 (13,602)
Profit of the year 41,328
At 30 November 2023 27,726

(7) Fixed assets
Intangible

£
Tangible

£
Totals

£
Cost
As at 01 December 202214,082-14,082
Additions-4,5004,500
As at 30 November 202314,0824,50018,582
Depreciation/Amortisation
For the year-750750
As at 30 November 2023-750750
Net book value
As at 30 November 202314,0823,75017,832
As at 30 November 202214,082-14,082