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REGISTERED NUMBER: 07620258 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

IFTEQ SOFTWARE LIMITED

IFTEQ SOFTWARE LIMITED (REGISTERED NUMBER: 07620258)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


IFTEQ SOFTWARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Iftakhar Ahmed Qayyum





REGISTERED OFFICE: 93 Rose Hill
Oxford
OX4 4HT





REGISTERED NUMBER: 07620258 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

IFTEQ SOFTWARE LIMITED (REGISTERED NUMBER: 07620258)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,627 32,033

CURRENT ASSETS
Debtors 5 156,240 129,303
Prepayments and accrued income 2,338 3,613
Cash at bank 46,660 32,317
205,238 165,233
CREDITORS
Amounts falling due within one year 6 33,850 42,180
NET CURRENT ASSETS 171,388 123,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

198,015

155,086

CREDITORS
Amounts falling due after more than one
year

7

24,258

28,934
NET ASSETS 173,757 126,152

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 9 173,747 126,142
SHAREHOLDERS' FUNDS 173,757 126,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

IFTEQ SOFTWARE LIMITED (REGISTERED NUMBER: 07620258)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





Iftakhar Ahmed Qayyum - Director


IFTEQ SOFTWARE LIMITED (REGISTERED NUMBER: 07620258)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Ifteq Software Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

ACCOUNTING ESTIMATES AND JUDGEMENTS
In preparing the financial statements, management were not required to make any estimates or judgements which materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

DIVIDENDS
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

TANGIBLE FIXED ASSETS
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% on cost
Furniture & Fixture - 25% on cost
Plant & machinery - 25% on cost
Motor & Vehicle - 25% on reducing balance

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 statement of financial position date.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

IFTEQ SOFTWARE LIMITED (REGISTERED NUMBER: 07620258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

DEBTORS
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

CREDITORS
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 June 2023 497 868 44,035 9,815 55,215
Additions - - - 3,380 3,380
At 31 May 2024 497 868 44,035 13,195 58,595
Depreciation
At 1 June 2023 497 832 12,864 8,989 23,182
Charge for year - 36 7,792 958 8,786
At 31 May 2024 497 868 20,656 9,947 31,968
Net book value
At 31 May 2024 - - 23,379 3,248 26,627
At 31 May 2023 - 36 31,171 826 32,033

IFTEQ SOFTWARE LIMITED (REGISTERED NUMBER: 07620258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 June 2023
and 31 May 2024 44,035
Depreciation
At 1 June 2023 12,864
Charge for year 7,792
At 31 May 2024 20,656
Net book value
At 31 May 2024 23,379
At 31 May 2023 31,171

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 156,240 129,303

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 3,401 3,401
Trade creditors 3,391 3,356
Taxation and social security 25,558 35,423
Other creditors 1,500 -
33,850 42,180

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 24,258 28,934

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £0.10 10 10

IFTEQ SOFTWARE LIMITED (REGISTERED NUMBER: 07620258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. RESERVES
Retained
earnings
£   

At 1 June 2023 126,142
Profit for the year 48,105
Dividends (500 )
At 31 May 2024 173,747

10. ULTIMATE CONTROLLING PARTY

The controlling party is Iftakhar Ahmed Qayyum.