Registered number
08842670
Equasys IT Solutions Ltd
Unaudited Filleted Accounts
31 January 2024
Equasys IT Solutions Ltd
Registered number: 08842670
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,689 278
Current assets
Debtors 4 69,128 109,168
Cash at bank and in hand 295,788 903,823
364,916 1,012,991
Creditors: amounts falling due within one year 5 (166,042) (85,968)
Net current assets 198,874 927,023
Net assets 204,563 927,301
Capital and reserves
Called up share capital 10 10
Profit and loss account 204,553 927,291
Shareholders' funds 204,563 927,301
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Adam Moran
Director
Approved by the board on 24 September 2024
Equasys IT Solutions Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% per annum (straight line basis)
Office equipment 25% per annum (reducing balance basis)
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Computer equipment Office equipment Total
£ £ £
Cost
At 1 February 2023 4,693 6,358 11,051
Additions 8,218 - 8,218
At 31 January 2024 12,911 6,358 19,269
Depreciation
At 1 February 2023 4,693 6,080 10,773
Charge for the year 2,737 70 2,807
At 31 January 2024 7,430 6,150 13,580
Net book value
At 31 January 2024 5,481 208 5,689
At 31 January 2023 - 278 278
4 Debtors 2024 2023
£ £
Trade debtors 66,952 62,278
Director's loan account - 44,385
Other debtors 2,176 2,505
69,128 109,168
5 Creditors: amounts falling due within one year 2024 2023
£ £
Company credit card 15,020 -
Trade creditors 88,499 13,079
Taxation and social security costs 62,223 71,539
Other creditors 300 1,350
166,042 85,968
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 6,158 16,010
7 Controlling party
The company is a wholly owned subsidiary of Equasys Ltd (company number 14655131), a company registered in England & Wales. Mr Adam Moran is currently the sole director of both companies.
8 Other information
Equasys IT Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
844 Birchwood Boulevard
Birchwood
Warrington
WA3 7QZ
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