Company Registration No. 13801359 (England and Wales)
IQW DEVELOPMENTS LIMITED
Unaudited Financial Statements
for the year ended 31 December 2024
IQW DEVELOPMENTS LIMITED
Unaudited Financial Statements
Contents
IQW DEVELOPMENTS LIMITED
Company Information
for the year ended 31 December 2024
Directors
Mohammed ISMAIL
Qamer JAVED
Mohammed Waqas Afzal QURESHI
Company Number
13801359 (England and Wales)
Registered Office
19 HYDE PARK CORNER
LEEDS
LS6 1AF
ENGLAND
Accountants
HLA Accountants
21 Hyde Park Road
Leeds
West Yorkshire
LS6 1PY
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
IQW DEVELOPMENTS LIMITED
for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
IQW DEVELOPMENTS LIMITED for the year ended
31 December 2024 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
HLA Accountants
Chartered Certified Accountants
21 Hyde Park Road
Leeds
West Yorkshire
LS6 1PY
19 December 2025
IQW DEVELOPMENTS LIMITED
Statement of financial position
as at 31 December 2024
Intangible assets
11,630
15,507
Tangible assets
1,693,127
1,649,399
Cash at bank and in hand
1,463
1,324
Creditors: amounts falling due within one year
(768,606)
(507,523)
Net current liabilities
(767,043)
(506,099)
Total assets less current liabilities
937,714
1,158,807
Creditors: amounts falling due after more than one year
(1,412,730)
(1,412,730)
Net liabilities
(475,016)
(253,923)
Called up share capital
100
100
Profit and loss account
(475,116)
(254,023)
Shareholders' funds
(475,016)
(253,923)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by
Mohammed ISMAIL
Director
Company Registration No. 13801359
IQW DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
IQW DEVELOPMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13801359. The registered office is 19 HYDE PARK CORNER, LEEDS, LS6 1AF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
IQW DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
At 31 December 2024
19,384
At 31 December 2024
11,630
At 31 December 2023
15,507
5
Tangible fixed assets
Land & buildings
At 1 January 2024
1,649,399
At 31 December 2024
1,693,127
At 31 December 2024
1,693,127
At 31 December 2023
1,649,399
Amounts falling due after more than one year
IQW DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
Other creditors
399,159
230,218
Loans from directors
367,847
275,705
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,412,730
1,412,730
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).