Company Registration No. NI675123 (Northern Ireland)
BrokerIQ Solutions Limited
Unaudited accounts
for the year ended 31 December 2023
BrokerIQ Solutions Limited
Unaudited accounts
Contents
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
BrokerIQ Solutions Limited
Statement of financial position
as at 31 December 2023
Intangible assets
65,390
74,322
Tangible assets
4,525
3,018
Cash at bank and in hand
98,435
105,455
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)
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
BrokerIQ Solutions Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Government grants in relation to expenditure are credited to the Income Statement when the expenditure is charged and are included within Other Income.
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 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
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.
BrokerIQ Solutions Limited
Notes to the Accounts
for the year ended 31 December 2023
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
At 31 December 2023
89,321
At 31 December 2023
23,931
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
At 31 December 2023
702
6,661
7,363
At 1 January 2023
-
906
906
Charge for the year
76
1,856
1,932
At 31 December 2023
76
2,762
2,838
At 31 December 2023
626
3,899
4,525
At 31 December 2022
-
3,018
3,018
Amounts falling due within one year
Accrued income and prepayments
5,670
6,270
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
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Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
51,750
50,535
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).