REGISTERED NUMBER: 04189789 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

Ideal Quarters Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mostaque Ahmed

Raja Saddiq Khan

REGISTERED OFFICE:

598 Romford Road

London

E12 5AF

REGISTERED NUMBER:

04189789 (England and Wales)

ACCOUNTANTS:

Prestons

Chartered Accountants

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

CURRENT ASSETS

Debtors

5

76,477

159,562

Investments

6

84,000

84,000

Cash at bank and in hand

97,181

31,690

257,658

275,252

CREDITORS

Amounts falling due within one year

7

176,165

202,027

NET CURRENT ASSETS

81,493

73,225

TOTAL ASSETS LESS CURRENT LIABILITIES

81,493

73,225

CREDITORS

Amounts falling due after more than one year

8

72,314

86,111

NET ASSETS/(LIABILITIES)

9,179

(12,886

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

9,177

(12,888

)

9,179

(12,886

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

Mostaque Ahmed - Director

1.	STATUTORY INFORMATION

Ideal Quarters Ltd 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.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover includes lease property income, which is measured on a reliable basis.

Tangible fixed assets

Tangible fixed assets 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 costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery - 20% on cost

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Taxation

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

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.

Investments

Investment in unlisted securities held at cost less accumulated impairment losses.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

Going concern

The total liabilities exceed the total assets of the company as at 31 May 2025. The directors have confirmed that the company will have continuous support from the creditors. The directors are confident that the company has sufficient resources to trade as a going concern. It is for these reasons the accounts have been prepared as a going concern basis.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and other assets to determine whether there is any indication that those assets have suffered an impairment loss. If such an indication exists, the recoverable amount of asset is estimated in order to determine the extent of the impairment loss (if any).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

and 31 May 2025

134,223

DEPRECIATION

At 1 June 2024

and 31 May 2025

134,223

NET BOOK VALUE

At 31 May 2025

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/25

31/5/24

£

£

Trade debtors

67,256

146,944

Other debtors

9,221

12,618

76,477

159,562

6.	CURRENT ASSET INVESTMENTS

31/5/25

31/5/24

£

£

Unlisted investments

84,000

84,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/25

31/5/24

£

£

Trade creditors

38,647

54,484

Taxation and social security

13,681

10,333

Other creditors

123,837

137,210

176,165

202,027

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/25

31/5/24

£

£

Other creditors

72,314

86,111

9.

LOANS

Other creditors include unsecured loans from:

i. Parsham loan at 5.76% per annum. The amount is repayable in 5 equal instalments in arrears. The first instalment is due by 29 April 2026.

ii. Funding Circle loan at 8.90% per annum. The amount is repayable in 48 equal instalments in arrears. The first instalment was due by 6 December 2021.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2025 and 31 May 2024:

31/5/25

31/5/24

£

£

Mostaque Ahmed

Balance outstanding at start of year

552

1,992

Amounts advanced

695

-

Amounts repaid

(1,440

)

(1,440

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(193

)

552