I.Q. Property Investments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06077393 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2017

for

I.Q. Property Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J D Matthews

Mrs J Matthews

R Armstrong

REGISTERED OFFICE:

Yorkshire House

Nostell Estate Yard

Wakefield

WF4 1AB

REGISTERED NUMBER:

06077393 (England and Wales)

ACCOUNTANTS:

Equate Limited

Chartered Certified Accountants

17 Appleton Court

Calder Park

Wakefield

West Yorkshire

WF2 7AR

FIXED ASSETS

Tangible assets

4

2,277

1,721

CURRENT ASSETS

Debtors

5

4,170

10,154

Cash at bank and in hand

21,336

42,453

25,506

52,607

CREDITORS

Amounts falling due within one year

6

2,355

10,234

NET CURRENT ASSETS

23,151

42,373

TOTAL ASSETS LESS CURRENT LIABILITIES

25,428

44,094

PROVISIONS FOR LIABILITIES

403

305

NET ASSETS

25,025

43,789

CAPITAL AND RESERVES

Called up share capital

140

140

Retained earnings

24,885

43,649

SHAREHOLDERS' FUNDS

25,025

43,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 5 April 2017 and were signed on its behalf by:

J D Matthews - Director

1.	STATUTORY INFORMATION

I.Q. Property Investments 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The company receives commission income from developers in respect of property investments the

company arranges for it's clients. Commission income is recognised at the point the client signs

the contract for the investment and therefore triggers commission income from the developer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

20% on cost

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 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 March 2016

1,601

2,039

3,640

Additions

-

1,155

1,155

At 28 February 2017

1,601

3,194

4,795

DEPRECIATION

At 1 March 2016

703

1,216

1,919

Charge for year

78

521

599

At 28 February 2017

781

1,737

2,518

NET BOOK VALUE

At 28 February 2017

820

1,457

2,277

At 29 February 2016

898

823

1,721

Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts

recognised in respect of impairment.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade debtors

-

4,900

Amounts owed by group undertakings

636

486

Directors' current accounts

3,534

1,234

VAT

-

3,112

Prepayments and accrued income

-

422

4,170

10,154

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade creditors

(1

)

-

Tax

297

7,693

Social security and other taxes

-

541

VAT

59

-

Accruals and deferred income

2,000

2,000

2,355

10,234

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

28 February 2017 and 29 February 2016:

28.2.17

29.2.16

£

£

J D Matthews

Balance outstanding at start of year

1,234

(2,128

)

Amounts advanced

9,452

9,125

Amounts repaid

(7,152

)

(5,763

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,534

1,234

8.	RELATED PARTY DISCLOSURES

Dividends of £18,000 (2016: £99,000) were also paid to J and J Investments Limited during the

year, a company controlled by J D Matthews.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J D Matthews.