Company registration number 11034070 (England and Wales)
Equidistant Consulting Limited
Unaudited Financial Statements
For the year ended 31 October 2023
PAGES FOR FILING WITH REGISTRAR
Equidistant Consulting Limited
Contents
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Equidistant Consulting Limited
Balance sheet
For the year ended 31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,007
48,604
Current assets
Debtors
4
6,293
17,522
Cash at bank and in hand
1
1
6,294
17,523
Creditors: amounts falling due within one year
5
(17,129)
(28,298)
Net current liabilities
(10,835)
(10,775)
Total assets less current liabilities
(3,828)
37,829
Creditors: amounts falling due after more than one year
6
(12,250)
(27,899)
Provisions for liabilities
-
0
(8,899)
Net (liabilities)/assets
(16,078)
1,031
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(16,178)
931
Total equity
(16,078)
1,031

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

Equidistant Consulting Limited
Balance sheet (Continued)
For the year ended 31 October 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 21 March 2024
Mrs K Bradford
Director
Company registration number 11034070 (England and Wales)
Equidistant Consulting Limited
Notes to the Financial Statements
For the year ended 31 October 2023
- 3 -
1
Accounting policies
Company information

Equidistant Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Hertfordshire, AL1 1LJ.

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 amounts 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 recognised 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Fixtures and fittings
10%-25% on cost
Motor vehicles
10% on cost
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 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 cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

 

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

Equidistant Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.

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.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
Equidistant Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022
62,956
Additions
1,910
Disposals
(53,023)
At 31 October 2023
11,843
Depreciation and impairment
At 1 November 2022
14,352
Depreciation charged in the year
7,275
Eliminated in respect of disposals
(16,791)
At 31 October 2023
4,836
Carrying amount
At 31 October 2023
7,007
At 31 October 2022
48,604
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
(120)
13,006
Other debtors
6,413
4,516
6,293
17,522
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,806
1,067
Obligations under finance leases
-
0
8,807
Trade creditors
78
2,838
Corporation tax
11,014
8,616
Other taxation and social security
684
4,243
Other creditors
2,547
2,727
17,129
28,298
Equidistant Consulting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
12,250
12,250
Obligations under finance leases
-
0
15,649
12,250
27,899
7
Directors' transactions

Included in other debtors is £6,413 (2022 - £4,516) due from the director.

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