Registration number:
Equipped 4 Limited
for the Year Ended 31 October 2020
Equipped 4 Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Equipped 4 Limited
Company Information
Director |
D C Schiller |
Company secretary |
T B Schiller |
Registered office |
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Accountants |
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Equipped 4 Limited
(Registration number: 07420573)
Balance Sheet as at 31 October 2020
Note |
2020 |
2019 |
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Current assets |
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Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
120 |
120 |
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Profit and loss account |
(206,762) |
(206,612) |
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Shareholders' deficit |
(206,642) |
(206,492) |
For the financial year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Equipped 4 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Depreciation
Asset class |
Depreciation method and rate |
Leasehold property |
10% straight line |
Furniture & fittings |
25% straight line |
Equipments |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Equipped 4 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Equipped 4 Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020
Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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Ordinary A of £1 each |
90 |
90 |
90 |
90 |
Ordinary B of £1 each |
30 |
30 |
30 |
30 |
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Related party transactions |
The company was under the control of the director, D C Schiller throughout the previous and current year.
The company is wholly owned by Equipped 4 (Holdings) Limited, a company incorporated in England and Wales.
The ultimate controlling party is D C Schiller by virtue of his ownership of Equipped 4 (Holdings) Limited.
At the balance sheet date the company owed £26,631 (2019: £26,631) to D C Schiller. The loan is interest free and does not have a set repayment date.