Information Business Quantum Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05184557 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Information Business Quantum Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms M D L S Sanchez Delgado

SECRETARY:

Grosvenor Secretaries Limited

REGISTERED OFFICE:

9 Perseverance Works

Kingsland Road

London

E2 8DD

REGISTERED NUMBER:

05184557 (England and Wales)

FIXED ASSETS

Investments

4

8,179

8,179

CURRENT ASSETS

Stocks

-

28,000

Debtors

5

31,452

62,700

Cash at bank and in hand

79,386

30,787

110,838

121,487

CREDITORS

Amounts falling due within one year

6

6,502

26,315

NET CURRENT ASSETS

104,336

95,172

TOTAL ASSETS LESS CURRENT LIABILITIES

112,515

103,351

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

107,515

98,351

SHAREHOLDERS' FUNDS

112,515

103,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 7 September 2021 and were signed by:

Ms M D L S Sanchez Delgado - Director

1.	STATUTORY INFORMATION

Information Business Quantum 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.

Significant judgements and estimates

In the preparation of the financial statements, management has made no judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiaries recognised at cost less impairment.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Financial instruments

Financial assets and financial liabilities are recognised in the company's statement of financial position when the company becomes a party to the contractual provisions of the instrument.

Financial assets and financial liabilities are initially measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the transaction price of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.

Trade and other receivables are initially measured at transaction price and are subsequently measured at amortised cost, using the effective interest rate method.

Trade and other payables are initially measured at transaction price and are subsequently measured at amortised cost, using the effective interest rate method.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

8,179

NET BOOK VALUE

At 31 December 2020

8,179

At 31 December 2019

8,179

Fixed asset investments are stated at cost less impairment.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

-

200

Amounts owed by group undertakings

31,452

62,500

31,452

62,700

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

263

22

Amounts owed to group undertakings

1,136

22,681

Taxation and social security

5,103

3,612

6,502

26,315

7.	RELATED PARTY DISCLOSURES

Included in amounts due to group undertakings is £1,136 (2019: £22,681) payable to Integration and Software Limited, a subsidiary undertaking of the company. That amount is interest free and payable on demand.

8.	ULTIMATE CONTROLLING PARTY

Details of the persons with significant control will be made available in a due course at the following link:

https://beta.companieshouse.gov.uk/company/05184557/persons-with-significant-control.