REGISTERED NUMBER: 06528082 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

IQ Engineers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

58,570

74,546

58,570

74,546

CURRENT ASSETS

Stocks

6

235,313

373,230

Debtors

7

429,371

464,130

Cash at bank

394,218

199,415

1,058,902

1,036,775

CREDITORS

Amounts falling due within one year

8

(411,395

)

(450,993

)

NET CURRENT ASSETS

647,507

585,782

TOTAL ASSETS LESS CURRENT LIABILITIES

706,077

660,328

CREDITORS

Amounts falling due after more than one year

9

-

(5,000

)

PROVISIONS FOR LIABILITIES

12

(13,455

)

(17,363

)

NET ASSETS

692,622

637,965

CAPITAL AND RESERVES

Called up share capital

13

150

150

Capital redemption reserve

50

50

Retained earnings

692,422

637,765

SHAREHOLDERS' FUNDS

692,622

637,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 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 2 October 2026 and were signed on its behalf by:

R J Lewis - Director

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

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2025 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Computer

costs

software

Totals

£

£

£

COST

At 1 April 2025

and 31 March 2026

62,500

6,120

68,620

AMORTISATION

At 1 April 2025

and 31 March 2026

62,500

6,120

68,620

NET BOOK VALUE

At 31 March 2026

-

-

-

At 31 March 2025

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

£

£

£

COST

At 1 April 2025

13,625

25,416

7,051

Additions

-

-

-

At 31 March 2026

13,625

25,416

7,051

DEPRECIATION

At 1 April 2025

621

23,299

5,874

Charge for year

1,362

752

561

At 31 March 2026

1,983

24,051

6,435

NET BOOK VALUE

At 31 March 2026

11,642

1,365

616

At 31 March 2025

13,004

2,117

1,177

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2025

102,960

29,769

178,821

Additions

-

12,355

12,355

At 31 March 2026

102,960

42,124

191,176

DEPRECIATION

At 1 April 2025

60,598

13,883

104,275

Charge for year

17,729

7,927

28,331

At 31 March 2026

78,327

21,810

132,606

NET BOOK VALUE

At 31 March 2026

24,633

20,314

58,570

At 31 March 2025

42,362

15,886

74,546

6.

STOCKS

2026

2025

£

£

Stocks

214,536

341,157

Work-in-progress

20,777

32,073

235,313

373,230

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

349,215

277,278

Amounts owed by group undertakings

-

77,597

Other debtors

1,482

32,074

Prepayments and accrued income

78,674

77,181

429,371

464,130

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts (see note 10)

5,000

10,000

Other loans (see note 10)

-

18,280

Trade creditors

101,471

98,026

Amounts owed to group undertakings

84,194

-

Taxation and social security

202,544

220,918

Other creditors

12,440

18,563

Directors' current accounts

465

78,506

Accruals and deferred income

5,281

6,700

411,395

450,993

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans (see note 10)

-

5,000

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:

2026

2025

£

£

Amounts falling due within one year or on demand:

Bank loans

5,000

10,000

Other loans

-

18,280

5,000

28,280

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

5,000

11.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

5,000

15,000

Other loans

-

18,280

5,000

33,280

The bank loan is repayable by instalments and is due to mature on 30 September 2026. The loan is secured by way of a fixed and floating charge.

12.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

13,455

17,363

Deferred

tax

£

Balance at 1 April 2025

17,363

Provided during year

(3,908

)

Balance at 31 March 2026

13,455

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

150

Ordinary

£1

150

150

14.	RELATED PARTY DISCLOSURES

2026

2025

£

£

Amount due to the directors

465

78,506

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.