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REGISTERED NUMBER: 08799918 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

EQUILIBRIUM (GULF) LTD

EQUILIBRIUM (GULF) LTD (REGISTERED NUMBER: 08799918)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EQUILIBRIUM (GULF) LTD

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTORS: N D Ashmore
N P Carter
G Grimstone





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 08799918 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

EQUILIBRIUM (GULF) LTD (REGISTERED NUMBER: 08799918)

BALANCE SHEET
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 367
Investments 5 1,625 31,625
1,625 31,992

CURRENT ASSETS
Debtors 6 154,622 105,188
Cash at bank 294,109 133,008
448,731 238,196
CREDITORS
Amounts falling due within one year 7 (380,824 ) (164,092 )
NET CURRENT ASSETS 67,907 74,104
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,532

106,096

CAPITAL AND RESERVES
Called up share capital 8 68 80
Capital redemption reserve 12 -
Retained earnings 69,452 106,016
SHAREHOLDERS' FUNDS 69,532 106,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EQUILIBRIUM (GULF) LTD (REGISTERED NUMBER: 08799918)

BALANCE SHEET - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





N D Ashmore - Director


EQUILIBRIUM (GULF) LTD (REGISTERED NUMBER: 08799918)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Equilibrium (Gulf) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Equilibrium (Gulf) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows:

Revenue is recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment - straight line over 3 years
Computer equipment - straight line over 3 years

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

EQUILIBRIUM (GULF) LTD (REGISTERED NUMBER: 08799918)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 3,747 11,934 15,681
DEPRECIATION
At 1 July 2022 3,747 11,567 15,314
Charge for year - 367 367
At 30 June 2023 3,747 11,934 15,681
NET BOOK VALUE
At 30 June 2023 - - -
At 30 June 2022 - 367 367

EQUILIBRIUM (GULF) LTD (REGISTERED NUMBER: 08799918)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022 31,625
Impairments (30,000 )
At 30 June 2023 1,625
NET BOOK VALUE
At 30 June 2023 1,625
At 30 June 2022 31,625

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors - 37,500
Other debtors 154,622 67,688
154,622 105,188

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 45,184 11,491
Taxation and social security - 864
Other creditors 335,640 151,737
380,824 164,092

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
68 Ordinary £1 68 80

During the year 12 ordinary £1 shares were repurchased for £18,000 by the company and subsequently cancelled.

9. RELATED PARTY DISCLOSURES

The Company enters into material transactions with entities controlled by the Directors. In the opinion of the Directors, all transactions are entered into under normal market conditions.