Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseOther business support service activities not elsewhere classified11true 12881088 2023-10-01 2024-09-30 12881088 2022-10-01 2023-09-30 12881088 2024-09-30 12881088 2023-09-30 12881088 c:Director1 2023-10-01 2024-09-30 12881088 d:MotorVehicles 2023-10-01 2024-09-30 12881088 d:MotorVehicles 2024-09-30 12881088 d:MotorVehicles 2023-09-30 12881088 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12881088 d:OfficeEquipment 2023-10-01 2024-09-30 12881088 d:OfficeEquipment 2024-09-30 12881088 d:OfficeEquipment 2023-09-30 12881088 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12881088 d:ComputerEquipment 2023-10-01 2024-09-30 12881088 d:ComputerEquipment 2024-09-30 12881088 d:ComputerEquipment 2023-09-30 12881088 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12881088 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12881088 d:CurrentFinancialInstruments 2024-09-30 12881088 d:CurrentFinancialInstruments 2023-09-30 12881088 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 12881088 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 12881088 d:ShareCapital 2024-09-30 12881088 d:ShareCapital 2023-09-30 12881088 d:RetainedEarningsAccumulatedLosses 2024-09-30 12881088 d:RetainedEarningsAccumulatedLosses 2023-09-30 12881088 c:FRS102 2023-10-01 2024-09-30 12881088 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 12881088 c:FullAccounts 2023-10-01 2024-09-30 12881088 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12881088 2 2023-10-01 2024-09-30 12881088 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: 12881088


IQ INSOLVENCY LIMITED
FORMERLY KNOWN AS PARKRIDE LIMITED 
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
IQ INSOLVENCY LIMITED
FORMERLY KNOWN AS PARKRIDE LIMITED 
REGISTERED NUMBER:12881088

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,947
19,541

  
18,947
19,541

Current assets
  

Debtors: amounts falling due within one year
 5 
6,533
71

Cash at bank and in hand
  
158,446
9,444

  
164,979
9,515

Creditors: amounts falling due within one year
 6 
(63,625)
(13,457)

Net current assets/(liabilities)
  
 
 
101,354
 
 
(3,942)

Total assets less current liabilities
  
120,301
15,599

  

Net assets
  
120,301
15,599


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
120,300
15,598

  
120,301
15,599

Page 1

 
IQ INSOLVENCY LIMITED
FORMERLY KNOWN AS PARKRIDE LIMITED 
REGISTERED NUMBER:12881088
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers 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 director acknowledges his 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 income and retained earnings or the director's report 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: 




S Renshaw
Director

Date: 27 June 2025

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

Page 2

 
IQ INSOLVENCY LIMITED
FORMERLY KNOWN AS PARKRIDE LIMITED 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

IQ Insolvency Limited is a private company limited by shares and incorporated in England and Wales. The registered office is 14th Floor 33 Cavendish Square, London, England, W1G 0PW. The company's registered number is 12881088.

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

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:

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.

 
2.3

Interest income

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

 
2.4

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 3

 
IQ INSOLVENCY LIMITED
FORMERLY KNOWN AS PARKRIDE LIMITED 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Office equipment
-
25%
Straight line
Computer equipment
-
33%
Straight line

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

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. 

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Page 4

 
IQ INSOLVENCY LIMITED
FORMERLY KNOWN AS PARKRIDE LIMITED 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
IQ INSOLVENCY LIMITED
FORMERLY KNOWN AS PARKRIDE LIMITED 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
27,495
-
500
27,995


Additions
-
1,459
2,814
4,273



At 30 September 2024

27,495
1,459
3,314
32,268



Depreciation


At 1 October 2023
8,162
-
292
8,454


Charge for the year on owned assets
4,833
29
5
4,867



At 30 September 2024

12,995
29
297
13,321



Net book value



At 30 September 2024
14,500
1,430
3,017
18,947



At 30 September 2023
19,333
-
208
19,541

Page 6

 
IQ INSOLVENCY LIMITED
FORMERLY KNOWN AS PARKRIDE LIMITED 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Other debtors
-
71

Prepayments and accrued income
6,533
-

6,533
71



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
21,798
-

Corporation tax
32,762
3,105

Other taxation and social security
260
-

Other creditors
42
1,925

Accruals and deferred income
8,763
8,427

63,625
13,457



7.


Related party transactions

Included in other creditors is an amount of £42 (2023: £1,925) due to the director of the company. This  amount is repayable on demand. Interest is charged on this balance at 2% per annum.

 
Page 7