The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Institute for Quantitative Investment Research is a private company limited by guarantee incorporated in England and Wales. The registered office is North House, 198 High Street, Tonbridge, Kent, TN9 1BE.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) applicable to smaller entities and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

There are no material uncertainties about the company's ability to continue, so the going concern basis of accounting has been adopted.true

Institute for Quantitative Investment Research meets the definition of a public benefit entity under FRS 102.

Income from subscriptions from members is recognised when it becomes due. It is shown net of value added tax.

Interest receivable is recognised in the period to which it has been incurred.

The company only has financial instruments which are classified as basic financial instruments.

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in the profit and loss.

The company has obtained exemption from the H.M. Revenue & Customs in respect of corporation tax, it being a company not carrying on a business for the purposes of making a profit. Corporation tax is payable on any investment income or trading activities of the company.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Provision is made for research grants when the conditions of the grant award have been met. It is released to income once expensed in accordance with which it was given.

Current investments relate to cash held in a 1 year fixed rate business bond. Interest is accruing at 4.91% and the funds are held within a public sector deposit fund.

The company is limited by guarantee, not having a share capital. Clause 8 of the memorandum of association provides that every member as defined by Clause 4 of the articles of association is liable to contribute a sum not exceeding £1 in the event of the company being wound up while a member, or within a year of ceasing to be a member. The number of members as at 31 December 2024 was 19 (2023: 22).

The company is controlled by its members and as such has no one ultimate controlling party.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its deficit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

A majority of the directors and council members of the Institute for Quantitative Investment Research (Inquire UK) will normally be representatives of sponsors. The income of Inquire UK is contributed by the sponsors and the members of the council will then disperse the amounts in question in accordance with the aims of the organisation. In certain cases other transactions may arise between Inquire UK and a sponsor represented in the council and any such transactions will be conducted on an arm's length basis or on a basis more favourable to Inquire UK.