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REGISTERED NUMBER: 06528082 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2025

for

IQ Engineers Limited

IQ Engineers Limited (Registered number: 06528082)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IQ Engineers Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: R J Lewis
M J Strodder





SECRETARY: R Cousans





REGISTERED OFFICE: Unit 2h Glaisdale Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU





REGISTERED NUMBER: 06528082 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

IQ Engineers Limited (Registered number: 06528082)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 20
Tangible assets 5 74,546 372,921
74,546 372,941

CURRENT ASSETS
Stocks 6 373,230 264,939
Debtors 7 464,130 573,958
Cash at bank 199,415 100,230
1,036,775 939,127
CREDITORS
Amounts falling due within one year 8 450,993 687,098
NET CURRENT ASSETS 585,782 252,029
TOTAL ASSETS LESS CURRENT
LIABILITIES

660,328

624,970

CREDITORS
Amounts falling due after more than one
year

9

(5,000

)

(29,777

)

PROVISIONS FOR LIABILITIES 12 (17,363 ) (21,026 )
NET ASSETS 637,965 574,167

CAPITAL AND RESERVES
Called up share capital 13 150 150
Capital redemption reserve 50 50
Retained earnings 637,765 573,967
SHAREHOLDERS' FUNDS 637,965 574,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Engineers Limited (Registered number: 06528082)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:





R J Lewis - Director


IQ Engineers Limited (Registered number: 06528082)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

IQ Engineers 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.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
All transactions entered into with companies under common control were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS102 section 1a.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group nor transactions with directors conducted at a market rate.

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

Income recognition
Turnover is recognised at the point at which the risks and rewards of the goods are transferred to the customer and the services are rendered.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

IQ Engineers Limited (Registered number: 06528082)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Work in progress is valued at the lower of cost and net realisable value, based on time accrued for work performed but not yet invoiced.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss..

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 19 ) .

IQ Engineers Limited (Registered number: 06528082)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. INTANGIBLE FIXED ASSETS
Development Computer
costs software Totals
£    £    £   
COST
At 1 April 2024
and 31 March 2025 62,500 6,120 68,620
AMORTISATION
At 1 April 2024 62,500 6,100 68,600
Amortisation for year - 20 20
At 31 March 2025 62,500 6,120 68,620
NET BOOK VALUE
At 31 March 2025 - - -
At 31 March 2024 - 20 20

5. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and
property improvements machinery
£    £    £   
COST
At 1 April 2024 287,527 - 48,205
Additions - 13,625 1,518
Disposals (287,527 ) - (24,307 )
At 31 March 2025 - 13,625 25,416
DEPRECIATION
At 1 April 2024 - - 47,076
Charge for year - 621 530
Eliminated on disposal - - (24,307 )
At 31 March 2025 - 621 23,299
NET BOOK VALUE
At 31 March 2025 - 13,004 2,117
At 31 March 2024 287,527 - 1,129

IQ Engineers Limited (Registered number: 06528082)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2024 7,051 99,960 43,461 486,204
Additions - 3,000 3,891 22,034
Disposals - - (17,583 ) (329,417 )
At 31 March 2025 7,051 102,960 29,769 178,821
DEPRECIATION
At 1 April 2024 5,313 36,642 24,252 113,283
Charge for year 561 23,956 7,108 32,776
Eliminated on disposal - - (17,477 ) (41,784 )
At 31 March 2025 5,874 60,598 13,883 104,275
NET BOOK VALUE
At 31 March 2025 1,177 42,362 15,886 74,546
At 31 March 2024 1,738 63,318 19,209 372,921

6. STOCKS
2025 2024
£    £   
Stocks 341,157 217,321
Work-in-progress 32,073 47,618
373,230 264,939

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 277,278 306,608
Amounts owed by group undertakings 77,597 1,100
Other debtors 32,074 209,530
Prepayments and accrued income 77,181 56,720
464,130 573,958

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Other loans (see note 10) 18,280 23,193
Trade creditors 98,026 166,823
Taxation and social security 220,918 179,308
Other creditors 18,563 9,099
Directors' current accounts 78,506 294,215
Accruals and deferred income 6,700 4,460
450,993 687,098

IQ Engineers Limited (Registered number: 06528082)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans (see note 10) 5,000 15,000
Other loans (see note 10) - 14,777
5,000 29,777

The bank loan is repayable over 6 years, with no repayment due for the first year, at an interest rate of 2.5% commencing after 1 year. The loan is due to mature in September 2026.

10. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Other loans 18,280 23,193
28,280 33,193

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,000 10,000
Other loans - 1-2 years - 14,777
5,000 24,777

Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 15,000 25,000
Other loans 18,280 37,970
33,280 62,970

The bank loan is repayable by instalments and is due to mature on 31 March 2026. The loan is secured by way of a fixed and floating charge.

12. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 17,363 21,026

IQ Engineers Limited (Registered number: 06528082)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2024 21,026
Provided during year (3,663 )
Balance at 31 March 2025 17,363

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
150 Ordinary £1 150 150

14. RELATED PARTY DISCLOSURES

2025 2024

£ £
Amount due to the directors 78,506 294,215

No interest has been charged.



15. ULTIMATE CONTROLLING PARTY

The ultimate controlling company is IQE Holdings Limited, a private company, limited by shares, registered in England and Wales. The company's registered office is Unit 2h Glaisdale Road, Northminster Business Park, Upper Poppleton, York, Y026 6QU.