Registered number
SC794985
FIQA LIMITED
Filleted Accounts
31 January 2025
FIQA LIMITED
Registered number: SC794985
Balance Sheet
as at 31 January 2025
Notes 2025
£
Fixed assets
Tangible assets 3 49,729
49,729
Current assets
Stocks 2,350
Cash at bank and in hand 33,985
36,335
Creditors: amounts falling due within one year 4 (38,109)
Net current liabilities (1,774)
Total assets less current liabilities 47,955
Provisions for liabilities -
Net assets 47,955
Capital and reserves
Called up share capital 100
Share premium -
Profit and loss account 47,855
Shareholder's funds 47,955
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
QAMAR FARIYAD
Director
Approved by the board on 4 March 2025
FIQA LIMITED
Notes to the Accounts
for the year ended 31 January 2025
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.
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 at 10% 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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025
Number
Average number of persons employed by the company 9
3 Tangible fixed assets
Fixtures and Fittings Equipment Total
£ £ £
Cost
At 1 February 2024 - - -
Additions 28,518 25,972 54,490
Surplus on revaluation - - -
Disposals - - -
At 31 January 2025 28,518 25,972 54,490
Depreciation
At 1 February 2024 - - -
Charge for the year 1,701 3,060 4,761
Surplus on revaluation - - -
On disposals - - -
At 31 January 2025 1,701 3,060 4,761
Net book value
At 31 January 2025 26,817 22,912 49,729
At 31 January 2024 - - -
4 Creditors: amounts falling due within one year 2025
£
Trade creditors 7,245
Taxation and social security costs 28,954
Other creditors 1,910
38,109
5 Other information
FIQA LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
84 SHIELDMUIR STREET
WISHAW
ML2 7TH
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