Registered number
08837277
I. Q. Arch Ltd
Report and Accounts
31 March 2024
I. Q. Arch Ltd
Registered number: 08837277
Directors' Report
The directors present their report and accounts for the year ended 31 March 2024.
Principal activities
The company's principal activity during the year continued to be that of business planning and tender consultants.
Directors
The following persons served as directors during the year:
R Hushon
P Karakusevic resigned 25th May 2023
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 18 October 2024 and signed on its behalf.
Mrs R Hushon
Director
I. Q. Arch Ltd
Registered number: 08837277
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,759 3,508
Current assets
Debtors 4 222,030 243,745
Cash at bank and in hand 39,433 66,142
261,463 309,887
Creditors: amounts falling due within one year 5 (24,310) (27,460)
Net current assets 237,153 282,427
Net assets 239,912 285,935
Capital and reserves
Called up share capital 100 100
Profit and loss account 239,812 285,835
Shareholders' funds 239,912 285,935
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs R Hushon
Director
Approved by the board on 18 October 2024
I. Q. Arch Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Motor 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 6,308 13,594 19,902
At 31 March 2024 6,308 13,594 19,902
Depreciation
At 1 April 2023 4,615 11,779 16,394
Charge for the year 295 454 749
At 31 March 2024 4,910 12,233 17,143
Net book value
At 31 March 2024 1,398 1,361 2,759
At 31 March 2023 1,693 1,815 3,508
4 Debtors 2024 2023
£ £
Trade debtors 94,800 99,200
Other debtors 127,230 144,545
222,030 243,745
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other taxes and social security costs 15,275 19,236
Other creditors 9,035 8,224
24,310 27,460
6 Other information
I. Q. Arch Ltd is a private company limited by shares and incorporated in England. Its registered office is:
30 Circus Mews
Bath
B&NES
BA1 2PW
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