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IRQ Systems Limited

Registered Number
03397112
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

IRQ Systems Limited
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

Ian Michael Ritchie

Company Secretary

Susan Mary Higson

Registered Address

9 Brook Road
Ivybridge
PL21 0AX

Registered Number

03397112 (England and Wales)
IRQ Systems Limited
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3-2,400
-2,400
Current assets
Debtors-3,490
Cash at bank and on hand18,95516,949
18,95520,439
Creditors amounts falling due within one year4(10,872)(7,796)
Net current assets (liabilities)8,08312,643
Total assets less current liabilities8,08315,043
Provisions for liabilities5-(456)
Net assets8,08314,587
Capital and reserves
Called up share capital33
Profit and loss account8,08014,584
Shareholders' funds8,08314,587
The financial statements were approved and authorised for issue by the Director on 1 May 2025, and are signed on its behalf by:
Ian Michael Ritchie
Director
Registered Company No. 03397112
IRQ Systems Limited
Notes to the Financial Statements
for the year ended 31 March 2025

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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings15-
Office Equipment-3
2.Average number of employees

20252024
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 243,7663,3297,095
Additions-431431
Disposals(3,766)(3,760)(7,526)
Depreciation and impairment
At 01 April 243,6651,0304,695
On disposals(3,665)(1,030)(4,695)
Net book value
At 31 March 25---
At 31 March 241012,2992,400
4.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables-55
Taxation and social security8,5406,021
Other creditors1,225717
Accrued liabilities and deferred income1,1071,003
Total10,8727,796
5.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)-456
Total-456
6.Related party transactions
At the year end the company owed Ian Michael Ritchie, director £314 (2024 - £314.)