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REGISTERED NUMBER: 08799918 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

EQUILIBRIUM GULF LTD

EQUILIBRIUM GULF LTD (REGISTERED NUMBER: 08799918)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EQUILIBRIUM GULF LTD

Company Information
for the year ended 30 June 2024







DIRECTORS: N D Ashmore
N P Carter
G Grimstone





SECRETARY: Z Ibrahim-Rutledge





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 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,850 -
Investments 5 100 1,625
3,950 1,625

CURRENT ASSETS
Debtors 6 158,437 154,622
Cash at bank and in hand 273,957 294,109
432,394 448,731
CREDITORS
Amounts falling due within one year 7 (238,916 ) (380,824 )
NET CURRENT ASSETS 193,478 67,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,428

69,532

PROVISIONS FOR LIABILITIES 8 (963 ) -
NET ASSETS 196,465 69,532

CAPITAL AND RESERVES
Called up share capital 9 68 68
Capital redemption reserve 12 12
Retained earnings 196,385 69,452
SHAREHOLDERS' FUNDS 196,465 69,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 2024


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 4 October 2024 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 2024

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 2024

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 4 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 3,747 11,934 15,681
Additions - 4,355 4,355
At 30 June 2024 3,747 16,289 20,036
DEPRECIATION
At 1 July 2023 3,747 11,934 15,681
Charge for year - 505 505
At 30 June 2024 3,747 12,439 16,186
NET BOOK VALUE
At 30 June 2024 - 3,850 3,850
At 30 June 2023 - - -

EQUILIBRIUM GULF LTD (REGISTERED NUMBER: 08799918)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023 1,625
Impairments (1,525 )
At 30 June 2024 100
NET BOOK VALUE
At 30 June 2024 100
At 30 June 2023 1,625

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 158,437 154,622

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 604 45,184
Taxation and social security 52,222 -
Other creditors 186,090 335,640
238,916 380,824

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 963 -

Deferred
tax
£   
Charge to Income Statement during year 963
Balance at 30 June 2024 963

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
68 Ordinary £1 68 68

EQUILIBRIUM GULF LTD (REGISTERED NUMBER: 08799918)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

10. 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.