Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-31true2023-01-01falseManagement consultancy activities other than financial management22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13544632 2023-01-01 2023-12-31 13544632 2021-08-03 2022-12-31 13544632 2023-12-31 13544632 2022-12-31 13544632 c:Director1 2023-01-01 2023-12-31 13544632 d:CurrentFinancialInstruments 2023-12-31 13544632 d:CurrentFinancialInstruments 2022-12-31 13544632 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13544632 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13544632 d:ShareCapital 2023-12-31 13544632 d:ShareCapital 2022-12-31 13544632 d:RetainedEarningsAccumulatedLosses 2023-12-31 13544632 d:RetainedEarningsAccumulatedLosses 2022-12-31 13544632 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13544632 c:OrdinaryShareClass1 2023-12-31 13544632 c:OrdinaryShareClass1 2022-12-31 13544632 c:FRS102 2023-01-01 2023-12-31 13544632 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13544632 c:FullAccounts 2023-01-01 2023-12-31 13544632 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13544632 2 2023-01-01 2023-12-31 13544632 6 2023-01-01 2023-12-31 13544632 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13544632









XMED IQ INTERNATIONAL GROUP LIMITED







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
XMED IQ INTERNATIONAL GROUP LIMITED
REGISTERED NUMBER: 13544632

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
7,754
7,754

  
7,754
7,754

Current assets
  

Debtors: amounts falling due within one year
 5 
7,285
5,009

Cash at bank and in hand
 6 
4,349
9,888

  
11,634
14,897

Creditors: amounts falling due within one year
 7 
(79,539)
(55,811)

Net current liabilities
  
 
 
(67,905)
 
 
(40,914)

Total assets less current liabilities
  
(60,151)
(33,160)

  

Net liabilities
  
(60,151)
(33,160)


Capital and reserves
  

Called up share capital 
 8 
4
4

Profit and loss account
  
(60,155)
(33,164)

  
(60,151)
(33,160)


Page 1

 
XMED IQ INTERNATIONAL GROUP LIMITED
REGISTERED NUMBER: 13544632
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D Zocholl
Director

Date: 1 April 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
XMED IQ INTERNATIONAL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

XMED iQ International Group Limited (registered number: 13544632) is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net deficit position, the shareholders have provided assurances to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
XMED IQ INTERNATIONAL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
XMED IQ INTERNATIONAL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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.

 
2.9

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.

 
2.10

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




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
XMED IQ INTERNATIONAL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
7,754



At 31 December 2023
7,754





5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
6,096
3,316

Other debtors
1,185
1,689

Called up share capital not paid
4
4

7,285
5,009



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,349
9,888

4,349
9,888


Page 6

 
XMED IQ INTERNATIONAL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
961
26,045

Amounts owed to group undertakings
55,974
8,853

Amounts owed to related parties
18,203
17,709

Accruals and deferred income
4,401
3,204

79,539
55,811



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3,750 (2022 - 3,750) ordinary shares shares of £0.001 each
4
4



9.


Controlling party

The company is controlled by the directors.


 
Page 7