Company No: 07053050 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Abridged Financial Statements

DIRECTOR

Dr Neil Bourhill

REGISTERED OFFICE	Unit 74 Malvern Hills
	Science Park
	Geraldine Road
	Malvern
	WR14 3SZ
	United Kingdom

COMPANY NUMBER

07053050 (England and Wales)

CHARTERED ACCOUNTANTS	Edwards Chartered Accountants
	34 High Street
	Aldridge
	Walsall
	WS9 8LZ

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	6	181,878		153,060
		181,878		153,060
Current assets
Stocks		64,329		41,460
Debtors	9	838,691		820,050
Cash at bank and in hand		461,028		468,328
		1,364,048		1,329,838
Creditors: amounts falling due within one year		( 378,939)		( 361,742)
Net current assets		985,109		968,096
Total assets less current liabilities		1,166,987		1,121,156
Creditors: amounts falling due after more than one year		( 8,826)		( 43,802)
Provision for liabilities		( 45,470)		( 38,265)
Net assets		1,112,691		1,039,089
Capital and reserves
Called-up share capital	7	500		500
Capital redemption reserve		500		500
Profit and loss account		1,111,691		1,038,089
Total shareholder's funds		1,112,691		1,039,089

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered,
• The member of IQHQ Limited has consented to the preparation of the abridged financial statements for the financial year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements of IQHQ Limited (registered number: 07053050) were approved and authorised for issue by the Director on 03 December 2025. They were signed on its behalf by:

Dr Neil Bourhill Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

IQHQ Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Unit 74 Malvern Hills, Science Park, Geraldine Road, Malvern, WR14 3SZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions expressed in foreign currencies are translated into sterling and recorded at rates of exchange approximating to those ruling at the date of the transaction. Monetary assets and liabilities are translated at rates ruling at the balance sheet date. All differences are taken to the profit and loss account.

Turnover

Turnover represents the value of goods sold, excluding value added tax, work in progress and, in respect of incomplete contracts, the value of work executed during the year.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss accounts because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred taxation is provided on the liability method in respect of the taxation effect of all timing differences to the extent that tax liabilities are likely to crystallise in the foreseeable future.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs	8 years straight line
Trademarks, patents and licences	6.5 years straight line

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Expenditure that cannot be classified into these two categories is treated as being incurred in the research phase.

The company considers that, due to the complex nature of new equipment programmes, it is not possible to distinguish between research and development activities until a relatively late stage in the programme.

Trademarks, patents and licences

Intangible assets acquired are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Vehicles	5 years straight line
Tools and equipment	5 - 15 years straight line
Computer equipment	2 - 5 years straight line

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Work in progress is the cost of direct materials and labour plus attributable overheads based on a normal level of activity.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank and in hand only.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade debtors, corporation tax recoverable, other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including bank loans, trade creditors, taxation and social security, and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

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 deducting all of its liabilities.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Long term contracts

Profit on long term contracts is taken as the work is carried out if the final outcome can be seen with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end by recording turnover and related costs as activity progresses.

Turnover is calculated as that proportion of total contract value which costs incurred to date beat to total costs expected for that contract.

Revenues derived from variations on contracts are recognised only when they have been accepted by the customer.

Full provision is made for losses on all contracts in the period in which they are first foreseen.

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the Director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	19		17

4. Tax on profit/(loss)

	2025		2024
	£		£
Current tax on profit/(loss)
UK corporation tax	( 89,843)		( 114,658)
Adjustments in respect of prior periods	0		108
Total current tax	( 89,843)		( 114,550)
Deferred tax
Deferred Tax	7,205		3,833
Total deferred tax	7,205		3,833
Total tax on profit/(loss)	( 82,638)		( 110,717)

5. Intangible assets

	Development costs		Trademarks, patents and licences		Total
	£		£		£
Cost
At 01 April 2024	117,376		38,855		156,231
At 31 March 2025	117,376		38,855		156,231
Accumulated amortisation
At 01 April 2024	117,376		38,855		156,231
At 31 March 2025	117,376		38,855		156,231
Net book value
At 31 March 2025	0		0		0
At 31 March 2024	0		0		0

6. Tangible assets

	Vehicles		Tools and equipment		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	4,600		338,618		107,972		451,190
Additions	0		16,380		59,041		75,421
At 31 March 2025	4,600		354,998		167,013		526,611
Accumulated depreciation
At 01 April 2024	2,363		216,731		79,036		298,130
Charge for the financial year	920		32,034		13,649		46,603
At 31 March 2025	3,283		248,765		92,685		344,733
Net book value
At 31 March 2025	1,317		106,233		74,328		181,878
At 31 March 2024	2,237		121,887		28,936		153,060

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
500 Ordinary shares of £ 1.00 each	500		500

8. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	11,433		63,832

9. Directors' transactions

	2025		2024
	£		£
Opening balance	9,794		12,917
Amounts advanced	635		44
Amounts repaid	(2,282)		(3,167)
	8,147		9,794

Directors loans are interest free and repayable on demand