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REGISTERED NUMBER: 05112523 (Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

IAQ Limited

IAQ Limited (Registered number: 05112523)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IAQ Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr J B Jones
Mr I W Roberts





SECRETARY: Mr J B Jones





REGISTERED OFFICE: Unit 34
Cibyn Industrial Estate
Caernarfon
LL55 2BD





REGISTERED NUMBER: 05112523 (Wales)





ACCOUNTANTS: Emyr Mortimer Cyf
4 Lower Cardiff Road
Pwllheli
Gwynedd
LL53 5BY

IAQ Limited (Registered number: 05112523)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 169,500 163,713

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 5 95,218 143,862
Cash at bank 474,920 250,744
590,138 414,606
CREDITORS
Amounts falling due within one year 6 157,452 140,177
NET CURRENT ASSETS 432,686 274,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

602,186

438,142

CREDITORS
Amounts falling due after more than
one year

7

(12,500

)

(15,000

)

PROVISIONS FOR LIABILITIES 8 (25,645 ) (26,441 )
NET ASSETS 564,041 396,701

IAQ Limited (Registered number: 05112523)

Balance Sheet - continued
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 563,941 396,601
564,041 396,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





Mr J B Jones - Director


IAQ Limited (Registered number: 05112523)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

IAQ Limited is a private company, limited by shares , registered in 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

IAQ Limited (Registered number: 05112523)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 407,751
Additions 42,467
At 31 October 2023 450,218
DEPRECIATION
At 1 November 2022 244,038
Charge for year 36,680
At 31 October 2023 280,718
NET BOOK VALUE
At 31 October 2023 169,500
At 31 October 2022 163,713

IAQ Limited (Registered number: 05112523)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 72,245 121,056
Other debtors 22,973 22,806
95,218 143,862

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 36,810 48,703
Taxation and social security 80,697 57,994
Other creditors 39,945 33,480
157,452 140,177

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Other creditors 12,500 15,000

8. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 25,645 26,441

Deferred
tax
£   
Balance at 1 November 2022 26,441
Credit to Income Statement during year (796 )
Balance at 31 October 2023 25,645

9. RELATED PARTY DISCLOSURES

£18,881.80 of 'Other creditors' relates to a loan received from PPM Technology Limited. The director is also a director of this company. During the year the company paid a sum of £10,000 to one of the directors for consultancy work.