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Company registration number: |
07684840
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IQ HEALTHTECH LTD
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 December 2023 |
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IQ HEALTHTECH LTD |
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BALANCE SHEET |
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AS AT 31 December 2023
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2023 |
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2022 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 8,799 | | | | 8,066 | |
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| | | | | | | 8,799 | | | | 8,066 | |
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CURRENT ASSETS |
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Debtors | | | | 335,623 | | | | 267,093 | | | | |
Cash at bank and in hand | | | | 113,582 | | | | 126,947 | | | | |
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| | | | | 449,205 | | | | 394,040 | | | |
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CREDITORS |
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Amounts falling due within one year |
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(1,106,485) |
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(978,740) |
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NET CURRENT ASSETS |
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(657,280) |
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(584,700) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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(648,481) |
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(576,634) |
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Creditors falling due after one year | | | | | (48,463) | | | | (108,863) | |
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NET ASSETS |
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(696,944) |
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(685,497) |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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1,000 |
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1,000 |
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Share Premium Account | | | | | | 12,000 | | | | 12,000 | |
Other Reserves | | | | | | 125 | | | | 125 | |
Profit and loss account |
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(710,069) |
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(698,622) |
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SHAREHOLDERS FUNDS |
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(696,944) |
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(685,497) |
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For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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All the members have consented to the preparation of abridged financial statements for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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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 companies' regime. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 23 September 2024 and signed on its behalf. | | | | | | | |
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.......................................................................... |
D Baker |
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23 September 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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IQ HEALTHTECH LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2023 |
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1. |
Accounting policies |
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| Statutory information | | | | | | | |
| The company is registered in England and its registered number is 07684840. The company is a private company limited by shares. Its registered office is Hanover House, 5 Hanover Close, Christchurch, | |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant and machinery - 33% per annum of cost Fixtures and fittings - 33% per annum of cost | |
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| Plant and Machinery - 33% per annum of cost | |
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| Fixtures and Fittings - 33 % per annum of cost | |
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| Debtors | | | | | | | |
| The Directors have decide that no provision is required for bad or doubtful debts. | |
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| Deferred Taxation | | | | | | | | |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date. | |
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| Pension Scheme | | | | | | | | |
| The company operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 29. |
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3. | Tangible fixed assets | | | | | | | | | |
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Total |
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| Cost | | | | | | | | | | |
| At start of period | | 56,816 | |
| Additions | | | 7,679 | |
| At end of period | | 64,495 | |
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| Depreciation | | | | | | | | | | |
| At start of period | | 48,750 | |
| Provided during the period | | 6,946 | |
| At end of period | | 55,696 | |
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| Net Book Value | | | | | | | | | |
| At start of period | | 8,066 | |
| At end of period | | 8,799 | |
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4. | Pension costs | | | | | | | | |
| The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independantly administered fund. | |
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