IQCP IV C2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
IQCP IV C2 Limited is a private limited company incorporated in England and Wales on 8 March 2021. The registered office is 95 Regent Street, Cambridge, CB2 1AW.
The ultimate parent undertaking is IQ Capital Partners LLP, a partnership incorporated in England and Wales.
The company's functional and presentational currency in GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The following principal accounting policies have been applied:
At 31 December 2022 the Company's total liabilities exceeded its total assets by £444,516 (2021: £9,925). The directors are confident that the Company will make good this deficit by future gains.
On the basis of their review, the directors have a reasonable expectation that the Company will continue in operational existence and have sufficient resources to meet its liabilities as they fall due for the foreseeable future.
The financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern. Accordingly they continue to adopt the going concern basis in preparing these financial statements.
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ASSOCIATES AND JOINT VENTURES
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Associates and Joint Ventures are held at cost less impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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