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REGISTERED NUMBER: 09461709 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

IQ UK HOMES LIMITED

IQ UK HOMES LIMITED (REGISTERED NUMBER: 09461709)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IQ UK HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTOR: P L Laney





REGISTERED OFFICE: Fiddlers Green
Bell Lane
Cocking
Midhurst
West Sussex
GU29 0HU





REGISTERED NUMBER: 09461709 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Grange House
Grange Road
Midhurst
West Sussex
GU29 9LS

IQ UK HOMES LIMITED (REGISTERED NUMBER: 09461709)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 11,775,000 11,250,349
11,775,000 11,250,349

CURRENT ASSETS
Debtors 6 137,731 125,763
Cash at bank 125,292 194,690
263,023 320,453
CREDITORS
Amounts falling due within one year 7 5,715,234 1,345,027
NET CURRENT LIABILITIES (5,452,211 ) (1,024,574 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,322,789

10,225,775

CREDITORS
Amounts falling due after more than one year 8 (2,678,492 ) (7,009,921 )

PROVISIONS FOR LIABILITIES 10 (211,606 ) (80,443 )
NET ASSETS 3,432,691 3,135,411

CAPITAL AND RESERVES
Called up share capital 10 10
Capital contribution reserve 2,403,500 2,403,500
Other reserves 906,960 513,472
Retained earnings 122,221 218,429
3,432,691 3,135,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

IQ UK HOMES LIMITED (REGISTERED NUMBER: 09461709)

BALANCE SHEET - continued
28 FEBRUARY 2025


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2025 and were signed by:





P L Laney - Director


IQ UK HOMES LIMITED (REGISTERED NUMBER: 09461709)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


1. STATUTORY INFORMATION

IQ UK Homes 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 presentational currency of the financial statements is in Pound Sterling (£) which is rounded to the nearest pound (£).

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rents receivable and services provided during the year.

Rental income from operating leases is recognised on an accruals basis. Initial direct costs incurred in negotiating and arranging an operating lease are reflected in the profit and loss account on the basis the lease agreements are on a rolling basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 3 years

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Investment property
Investment properties are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected if the property was to be sold.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 1A. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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 balance sheet date.


IQ UK HOMES LIMITED (REGISTERED NUMBER: 09461709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Revaluation reserve
Gains or losses on fair value of investment property have been transferred from retained earning to a specific non-distributable reserve. Similarly deferred tax relating to these fair value movements have been transferred to the same reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2024
and 28 February 2025 190,771
DEPRECIATION
At 1 March 2024
and 28 February 2025 190,771
NET BOOK VALUE
At 28 February 2025 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2024 11,250,349
Revaluations 524,651
At 28 February 2025 11,775,000
NET BOOK VALUE
At 28 February 2025 11,775,000
At 29 February 2024 11,250,349

IQ UK HOMES LIMITED (REGISTERED NUMBER: 09461709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


5. INVESTMENT PROPERTY - continued

Fair value at 28 February 2025 is represented by:
£   
Valuation in 2016 181,636
Valuation in 2017 (108,316 )
Valuation in 2018 (173,700 )
Valuation in 2019 (648 )
Valuation in 2020 (29,806 )
Valuation in 2021 (11,506 )
Valuation in 2022 757,615
Valuation in 2023 (21,360 )
Valuation in 2025 524,651
Cost 10,656,434
11,775,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2025 2024
£    £   
Cost 10,656,434 10,656,434

Investment properties were valued on an open market basis on 11 February 2025 by Strutt & Parker .

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Other debtors 137,731 125,763

Other debtors falling due after more than one year are in respect of the company's deferred tax asset.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 4,379,300 -
Trade creditors 9,512 5,553
Amounts owed to group undertakings 1,269,011 1,259,011
Taxation and social security - 434
Other creditors 57,411 80,029
5,715,234 1,345,027

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans - 4,379,300
Other creditors 2,678,492 2,630,621
2,678,492 7,009,921

IQ UK HOMES LIMITED (REGISTERED NUMBER: 09461709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2025 2024
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 2,678,492 2,127,566

9. SECURED DEBTS

HSBC Bank PLC holds a charge over the company's assets in respect of loans and mortgages provided.

10. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 211,606 80,443

Deferred
tax
£   
Balance at 1 March 2024 80,443
Provision for tax on sale of
properties 131,163
Balance at 28 February 2025 211,606

11. RELATED PARTY DISCLOSURES

The ultimate parent company is IQ Holdings Limited. A company incorporated in the British Virgin Islands.

Throughout the year the company was was under the control of Mr S. Khaliq by virtue of his 100%
shareholding in the ultimate parent company.

Mr S. Khaliq has provided a loan to the company and interest has been accrued at a rate of 2.25%. At the balance sheet date the company owed Mr S. Khaliq £2,678,492 (2024 - £2,630,621).

The company maintains a loan account with the parent company. At the balance sheet date the company owned £1,245,000 to the parent company (2024 - £1,245,000).

The company maintains a loan account with a fellow group company. At the balance sheet date the company owed the fellow group company £24,010 ( 2023 - 14,010).