Company registration number 11500391 (England and Wales)
EQUIIDA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
EQUIIDA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
EQUIIDA LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
63,184
41,099
Tangible assets
4
14,402
14,762
77,586
55,861
Current assets
Debtors
5
422,767
524,198
Cash at bank and in hand
2,188,396
2,547,853
2,611,163
3,072,051
Creditors: amounts falling due within one year
6
(891,591)
(810,104)
Net current assets
1,719,572
2,261,947
Total assets less current liabilities
1,797,158
2,317,808
Provisions for liabilities
(7,200)
Net assets
1,789,958
2,317,808
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
1,788,958
2,316,808
Total equity
1,789,958
2,317,808
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 2022 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.
The 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.
EQUIIDA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 September 2023 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 2022
- 3 -
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.
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 recovered.
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
Trademarks, Patents & Licenses
10% straight line
EQUIIDA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
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 2022
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
12
8
3
Intangible fixed assets
Other
£
Cost
At 1 January 2022
41,335
Additions
27,730
At 31 December 2022
69,065
Amortisation and impairment
At 1 January 2022
236
Amortisation charged for the year
5,645
At 31 December 2022
5,881
Carrying amount
At 31 December 2022
63,184
At 31 December 2021
41,099
EQUIIDA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022
21,731
Additions
3,881
At 31 December 2022
25,612
Depreciation and impairment
At 1 January 2022
6,969
Depreciation charged in the year
4,241
At 31 December 2022
11,210
Carrying amount
At 31 December 2022
14,402
At 31 December 2021
14,762
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
375,196
360,557
Other debtors
47,571
155,891
422,767
516,448
Deferred tax asset
7,750
422,767
524,198
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
11,091
27,997
Taxation and social security
113,213
256,986
Other creditors
767,287
525,121
891,591
810,104
EQUIIDA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
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:
2022
2021
£
£
25,600
53,000