Registered number
06577219
I Q Fire Solutions Limited
Filleted Accounts
30 April 2025
I Q Fire Solutions Limited
Registered number: 06577219
Balance Sheet
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,130,881 902,776
Current assets
Debtors 4 553,849 584,056
Cash at bank and in hand 747,032 566,313
1,300,881 1,150,369
Creditors: amounts falling due within one year 5 (429,332) (378,192)
Net current assets 871,549 772,177
Total assets less current liabilities 2,002,430 1,674,953
Creditors: amounts falling due after more than one year 6 (56,324) (55,328)
Net assets 1,946,106 1,619,625
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,946,105 1,619,624
Shareholder's funds 1,946,106 1,619,625
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.
Mr I Khatkar
Director
Approved by the board on 11 June 2025
I Q Fire Solutions Limited
Notes to the Accounts
for the year ended 30 April 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. 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.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2024 875,547 64,683 177,008 1,117,238
Additions 231,796 - 101,320 333,116
Disposals - - (76,955) (76,955)
At 30 April 2025 1,107,343 64,683 201,373 1,373,399
Depreciation
At 1 May 2024 64,200 64,683 85,579 214,462
Charge for the year 22,147 - 40,275 62,422
On disposals - - (34,366) (34,366)
At 30 April 2025 86,347 64,683 91,488 242,518
Net book value
At 30 April 2025 1,020,996 - 109,885 1,130,881
At 30 April 2024 811,347 - 91,429 902,776
4 Debtors 2025 2024
£ £
Trade debtors 549,024 411,240
Other debtors 4,825 172,816
553,849 584,056
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 20,484 16,554
Obligations under finance lease and hire purchase contracts 20,735 16,400
Trade creditors 7,480 1,133
Taxation and social security costs 379,432 343,222
Other creditors 1,201 883
429,332 378,192
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 22,702 43,220
Obligations under finance lease and hire purchase contracts 33,622 12,108
56,324 55,328
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr I Khatkar
Directors loan interest @ 2.25% 168,316 (168,316) -
168,316 - (168,316) -
8 Other information
I Q Fire Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
31a King Street
Stanford le Hope
Essex
SS17 0HJ
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