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Registered number: 03278930









EQUINOX FLOORING SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
EQUINOX FLOORING SOLUTIONS LIMITED
REGISTERED NUMBER: 03278930

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,407
25,949

  
6,407
25,949

Current assets
  

Stocks
 5 
71,540
62,232

Debtors: amounts falling due within one year
 6 
116,056
100,956

Cash at bank and in hand
  
277,459
244,032

  
465,055
407,220

Creditors: amounts falling due within one year
 7 
(426,938)
(376,849)

Net current assets
  
 
 
38,117
 
 
30,371

Total assets less current liabilities
  
44,524
56,320

Creditors: amounts falling due after more than one year
 8 
(21,667)
(31,667)

  

Net assets
  
22,857
24,653


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
22,855
24,651

  
22,857
24,653


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 April 2024.


Page 1

 
EQUINOX FLOORING SOLUTIONS LIMITED
REGISTERED NUMBER: 03278930
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

T Ellis
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
EQUINOX FLOORING SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Equinox Flooring Solutions Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 124 Finchley Road, London, England, NW3 5JS . The address of its trading office is 4 Warrenwood Indutrial Estate, Stapleford, Hertford, Hertfordshire, SG14 3NU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue comprises of fees charged for the supply of flooring services and is recognised in the statement of income and retained earnings in the period in which the services are provided.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight-line
Fixtures & fittings
-
25%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 3

 
EQUINOX FLOORING SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 9).

Page 4

 
EQUINOX FLOORING SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 April 2022
50,956
5,330
56,286


Additions
-
2,382
2,382


Disposals
(24,000)
-
(24,000)



At 31 March 2023

26,956
7,712
34,668



Depreciation


At 1 April 2022
26,071
4,266
30,337


Charge for the year on owned assets
3,445
479
3,924


Disposals
(6,000)
-
(6,000)



At 31 March 2023

23,516
4,745
28,261



Net book value



At 31 March 2023
3,440
2,967
6,407



At 31 March 2022
24,885
1,064
25,949

Page 5

 
EQUINOX FLOORING SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
71,540
62,232

71,540
62,232



6.


Debtors

2023
2022
£
£


Trade debtors
80,185
68,144

Other debtors
35,871
32,812

116,056
100,956



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
252,218
190,739

Corporation tax
53,632
39,592

Other taxation and social security
5,003
7,627

Other creditors
102,585
121,641

Accruals and deferred income
3,500
7,250

426,938
376,849



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,667
31,667

21,667
31,667


Page 6

 
EQUINOX FLOORING SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
11,667
21,667


11,667
21,667


31,667
41,667



10.


Pension commitments

The company has paid £49,298 (2022: £48,900) into the director's and employees' personal pension plans during the year. The costs are charged to the profit and loss account as incurred.


11.


Related party transactions

At the reporting date, the company owed £102,585 (2022: £121,568) to Mr T Ellis, a director of the company. The loan is interest free, unsecured and repayable on demand.

 
Page 7