Equasys Ltd |
Notes to the Accounts |
for the period from 10 February 2023 to 29 February 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Investments |
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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. |
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Taxation of dividends |
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Dividends received from subsidiary companies are treated as exempt distributions in accordance with s931B of the Corporation Tax Act (CTA) 2009 and hence are not liable to corporation tax in the holding company. |
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2 |
Employees |
2024 |
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Number |
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Average number of persons employed by the company |
1 |
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3 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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Additions |
1,292,982 |
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At 29 February 2024 |
1,292,982 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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£ |
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Amounts due to former director and shareholder |
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323,042 |
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Director's loan account |
120,000 |
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Other creditors and accruals |
800 |
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443,842 |
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5 |
Related party transactions |
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The company made a dividend payment to its shareholders totalling £2,000 in the year. |
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6 |
Controlling party |
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Equasys Ltd is a holding company which owns 100% of the issued share capital of Equasys IT Solutions Ltd, a private company limited by shares and incorporated in England. |
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Equasys Ltd is controlled by its director, Mr Adam Moran. |
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7 |
Other information |
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Equasys Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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844 Birchwood Boulevard |
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Birchwood |
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Warrington |
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Cheshire |
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WA3 7QZ |