2023-11-012024-10-312024-10-31false05087419I.Q. DEVELOPMENTS (UK) 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I.Q. DEVELOPMENTS (UK) LIMITED

Registered Number
05087419
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

I.Q. DEVELOPMENTS (UK) LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

Mrs. N A RICHARDS
S D RIVERS

Registered Address

79 Higher Bore Street
Bodmin
PL31 1JT

Registered Number

05087419 (England and Wales)
I.Q. DEVELOPMENTS (UK) LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,165,3761,184,889
1,165,3761,184,889
Current assets
Debtors42,34025
Cash at bank and on hand49,67062,637
52,01062,662
Creditors amounts falling due within one year5(74,789)(71,226)
Net current assets (liabilities)(22,779)(8,564)
Total assets less current liabilities1,142,5971,176,325
Creditors amounts falling due after one year6(170,239)(202,097)
Net assets972,358974,228
Capital and reserves
Called up share capital120120
Profit and loss account972,238974,108
Shareholders' funds972,358974,228
The financial statements were approved and authorised for issue by the Board of Directors on 6 March 2025, and are signed on its behalf by:
S D RIVERS
Director
Registered Company No. 05087419
I.Q. DEVELOPMENTS (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 231,527,826
At 31 October 241,527,826
Depreciation and impairment
At 01 November 23342,937
Charge for year19,513
At 31 October 24362,450
Net book value
At 31 October 241,165,376
At 31 October 231,184,889
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,564-
Other debtors(224)25
Total2,34025
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-52
Taxation and social security39,31336,918
Other creditors1,848759
Accrued liabilities and deferred income33,62833,497
Total74,78971,226
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.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors170,239202,097
Total170,239202,097
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
S D RIVERS7591,6896001,848
7591,6896001,848
The director's current account balances included within creditors of £1,848 (2023 - £759) has no fixed date for repayment, is repayable upon demand and is non-interest bearing
8.Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions where they have occurred under normal market conditions.