Registered number
05245801
Equinox Ventures Limited
Filleted Accounts
31 January 2023
Equinox Ventures Limited
Registered number: 05245801
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 146,118 146,396
Current assets
Stocks 96,897 68,800
Debtors 5 1,899 2,273
Cash at bank and in hand 51,063 72,951
149,859 144,024
Creditors: amounts falling due within one year 6 (91,478) (71,549)
Net current assets 58,381 72,475
Total assets less current liabilities 204,499 218,871
Creditors: amounts falling due after more than one year 7 (36,923) (60,823)
Provisions for liabilities (1,564) (820)
Net assets 166,012 157,228
Capital and reserves
Called up share capital 2 2
Profit and loss account 166,010 157,226
Shareholders' funds 166,012 157,228
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
…............................................
D W Randall
Director
Approved by the board on 21 October 2023
Equinox Ventures Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% straightline basis
Plant and machinery 15% - 33% reducing balance
Fixtures, fittings, tools and equipment 15% - 33% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Government Grants
Government Grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account over that period. Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned. All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 243,000
At 31 January 2023 243,000
Amortisation
At 1 February 2022 243,000
At 31 January 2023 243,000
Net book value
At 31 January 2023 -
Goodwill has been fully amortised.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2022 148,000 19,794 167,794
Additions - 3,917 3,917
At 31 January 2023 148,000 23,711 171,711
Depreciation
At 1 February 2022 5,920 15,478 21,398
Charge for the year 2,960 1,235 4,195
At 31 January 2023 8,880 16,713 25,593
Net book value
At 31 January 2023 139,120 6,998 146,118
At 31 January 2022 142,080 4,316 146,396
5 Debtors 2023 2022
£ £
Other debtors 1,899 2,273
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 29,388 29,398
Trade creditors 23,671 4,973
Taxation and social security costs 30,148 35,884
Director's account 158 413
Other creditors 8,113 881
91,478 71,549
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 36,923 60,823
8 Other information
Equinox Ventures Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Highwood House
The Ridgeway
Saundersfoot
Pembrokeshire
SA69 9JU
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