Company Registration No. 11500391 (England and Wales)
EQUIIDA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
EQUIIDA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
EQUIIDA LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
41,099
Tangible assets
4
14,762
7,888
55,861
7,888
Current assets
Debtors
5
524,198
451,901
Cash at bank and in hand
2,547,853
2,146,450
3,072,051
2,598,351
Creditors: amounts falling due within one year
6
(810,104)
(824,731)
Net current assets
2,261,947
1,773,620
Net assets
2,317,808
1,781,508
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
2,316,808
1,780,508
Total equity
2,317,808
1,781,508
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have 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 by the board of directors and authorised for issue on 9 September 2022 and are signed on its behalf by:
Mr J G M Hime
Director
Company Registration No. 11500391
EQUIIDA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
1
Accounting policies
Company information
Equiida Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
3-4 Bower Terrace, Tonbridge Road, Maidstone, Kent, ME16 8RY. The principal place of business is 20 Red Lion St, Holborn, London, WC1R 4PQ.
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 is
measured
at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and
consultancy costs
, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated
.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation.
Amortisation 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:
Software
10% straight line
Patents & licences
10% straight line
EQUIIDA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets
Tangible fixed assets
are measured at cost, net of depreciation
.
Depreciation is recognised so as to write off the cost
less net realisable value
of assets over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Computer equipment
25% reducing balance
1.6
Financial instruments
The company has elected to apply the
recognition and measurement
provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include
debtors
and bank balances, are measured at transaction price
.
Basic financial liabilities
Basic financial liabilities, including
creditors
are recognised at transaction price
.
1.7
Taxation
The tax expense represents the sum of the tax currently payable
or receivable
and deferred tax.
Current tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits
.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases
are charged to
profit or loss
on a straight line basis over the term of the lease
.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
EQUIIDA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
8
6
3
Intangible fixed assets
Other
£
Cost
At 1 January 2021
Additions
41,335
At 31 December 2021
41,335
Amortisation and impairment
At 1 January 2021
Amortisation charged for the year
236
At 31 December 2021
236
Carrying amount
At 31 December 2021
41,099
At 31 December 2020
EQUIIDA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021
11,705
Additions
12,669
Disposals
(2,643)
At 31 December 2021
21,731
Depreciation and impairment
At 1 January 2021
3,817
Depreciation charged in the year
3,512
Eliminated in respect of disposals
(360)
At 31 December 2021
6,969
Carrying amount
At 31 December 2021
14,762
At 31 December 2020
7,888
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
360,557
392,261
Other debtors
155,891
45,840
516,448
438,101
Deferred tax asset
7,750
13,800
524,198
451,901
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
27,997
35,884
Taxation and social security
256,986
251,482
Other creditors
525,121
537,365
810,104
824,731
EQUIIDA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2021
2020
£
£
53,000
45,000