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Company Registration No. NI675123 (Northern Ireland)
BrokerIQ Solutions Limited Unaudited accounts for the year ended 31 December 2023
BrokerIQ Solutions Limited Unaudited accounts Contents
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BrokerIQ Solutions Limited Company Information for the year ended 31 December 2023
Directors
Joanne Cole Desmond McGivern Symvan Capital Limited
Company Number
NI675123 (Northern Ireland)
Registered Office
Catalyst, The Innovation Centre Queens Road Belfast BT3 9DT Northern Ireland
Accountants
Satori Accounting 11 Orchard Business Park Pennyburn Industrial Estate Derry Northern Ireland BT48 0LU
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BrokerIQ Solutions Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
65,390 
74,322 
Tangible assets
4,525 
3,018 
69,915 
77,340 
Current assets
Debtors
10,419 
11,964 
Cash at bank and in hand
98,435 
105,455 
108,854 
117,419 
Creditors: amounts falling due within one year
(45,130)
(207,935)
Net current assets/(liabilities)
63,724 
(90,516)
Total assets less current liabilities
133,639 
(13,176)
Creditors: amounts falling due after more than one year
(51,750)
(50,535)
Net assets/(liabilities)
81,889 
(63,711)
Capital and reserves
Called up share capital
299 
247 
Share premium
849,921 
299,963 
Profit and loss account
(768,331)
(363,921)
Shareholders' funds
81,889 
(63,711)
For the year ending 31 December 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 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 and delivered 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.
The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2024 and were signed on its behalf by
Joanne Cole Director Company Registration No. NI675123
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BrokerIQ Solutions Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
BrokerIQ Solutions Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI675123. The registered office is Catalyst, The Innovation Centre, Queens Road, Belfast, BT3 9DT, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Government grants
Government grants in relation to expenditure are credited to the Income Statement when the expenditure is charged and are included within Other Income.
Research and development
Expenditure on development is capitalised when the relevent criteria for treatment as an intangible fixed asset have been met, as set out in Finanicial Reporting Standard 102 (FRS 102). Such costs are capitalised when it is probable that the expected future economic that are attributable to the asset will flow to the entity. Expenditure on research is charged to the Income Statement when incurred.
Intangible fixed assets
Intangible fixed assets consist of software and product development costs. These are included at cost less accumulated amortisation. Amortisation is charged over the expected useful life of the product which is estimated at 10 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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BrokerIQ Solutions Limited Notes to the Accounts for the year ended 31 December 2023
Going concern
The company was supported external funders during the period ended 31 December 2023. The company has a growth plan to secure further investment funding on an ongoing basis. These plans will see the company generate increased recurring revenue which in turn will move the company towards a break even position in the medium term. With the support of the external investors, the company will have sufficient workng capital to trade for the foreseeable future. The financial statements have therefore been prepared on the going concern basis.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
89,321 
At 31 December 2023
89,321 
Amortisation
At 1 January 2023
14,999 
Charge for the year
8,932 
At 31 December 2023
23,931 
Net book value
At 31 December 2023
65,390 
At 31 December 2022
74,322 
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
- 
3,924 
3,924 
Additions
702 
2,737 
3,439 
At 31 December 2023
702 
6,661 
7,363 
Depreciation
At 1 January 2023
- 
906 
906 
Charge for the year
76 
1,856 
1,932 
At 31 December 2023
76 
2,762 
2,838 
Net book value
At 31 December 2023
626 
3,899 
4,525 
At 31 December 2022
- 
3,018 
3,018 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
3,749 
5,412 
Trade debtors
- 
282 
Accrued income and prepayments
5,670 
6,270 
Other debtors
1,000 
- 
10,419 
11,964 
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BrokerIQ Solutions Limited Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
36,421 
3,684 
Taxes and social security
6,624 
4,247 
Other creditors
403 
200,004 
Accruals
1,682 
- 
45,130 
207,935 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
51,750 
50,535 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
298,686 Ordinary shares of £0.001 each
298.68 
247.06 
Shares issued during the period:
51,619 Ordinary shares of £0.001 each
51.61 
10
Average number of employees
During the year the average number of employees was 4 (2022: 3).
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