Company Registration No. 07074063 (England and Wales)
EQUILIBRIUM 4 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
United Kingdom
PO6 3TH
EQUILIBRIUM 4 LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
EQUILIBRIUM 4 LIMITED
BALANCE SHEET
AS AT 30 MARCH 2019
30 March 2019
- 2 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,431
-
Current assets
Cash at bank and in hand
15,764
1,015
Creditors: amounts falling due within one year
4
(28,195)
(96,035)
Net current liabilities
(12,431)
(95,020)
Total assets less current liabilities
(11,000)
(95,020)
Creditors: amounts falling due after more than one year
5
(18,177)
-
Net liabilities
(29,177)
(95,020)
Capital and reserves
Called up share capital
6
200
200
Profit and loss reserves
(29,377)
(95,220)
Total equity
(29,177)
(95,020)
EQUILIBRIUM 4 LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 MARCH 2019
30 March 2019
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 19 December 2019
Mr. J McLaughlin
Director
Company Registration No. 07074063
The notes on pages 4 to 6 form part of these financial statements
EQUILIBRIUM 4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2019
- 4 -
1
Accounting policies
Company information
Equilibrium 4 Limited
(07074063)
is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth, Hampshire, United Kingdom, PO6 3TH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover
represents commissions and fees received from the sale of insurance services.
Commission is received on an indemnity basis. No account is taken of future clawback of commission. The clawback of commission is considered to be part of the normal day to day operations and is accounted for when the clawback is taken.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has basic financial instruments such as trade debtors, trade creditors and cash at bank.
EQUILIBRIUM 4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2019
1
Accounting policies
(Continued)
- 5 -
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2018 - 1).
3
Tangible fixed assets
Computer equipment
£
Cost
At 31 March 2018
-
Additions
1,493
At 30 March 2019
1,493
Depreciation and impairment
At 31 March 2018
-
Depreciation charged in the year
62
At 30 March 2019
62
Carrying amount
At 30 March 2019
1,431
At 30 March 2018
-
4
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
5,522
-
Trade creditors
-
10,398
Taxation and social security
884
283
Other creditors
19,956
84,100
Accruals and deferred income
1,833
1,254
28,195
96,035
The bank loan is secured by way of a personal guarantee from the director.
EQUILIBRIUM 4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2019
- 6 -
5
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loan
18,177
-
The bank loan is secured by way of a personal guarantee from the director.
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
200 Ordinary shares of £1 each
200
200