REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 1ST MARCH 2024 |
FOR |
EQUIJUST LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 1ST MARCH 2024 |
FOR |
EQUIJUST LIMITED |
EQUIJUST LIMITED (REGISTERED NUMBER: 03127151) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 1ST MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EQUIJUST LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 1ST MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Limited Liability Partnership |
45 Bridge Street |
Usk |
Monmouthshire |
NP15 1BQ |
EQUIJUST LIMITED (REGISTERED NUMBER: 03127151) |
BALANCE SHEET |
1ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
EQUIJUST LIMITED (REGISTERED NUMBER: 03127151) |
BALANCE SHEET - continued |
1ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
EQUIJUST LIMITED (REGISTERED NUMBER: 03127151) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 1ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Equijust Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sale of goods and services supplied, excluding Value Added Tax. |
Recovered expenses are included within turnover, whilst recoverable expenses are shown as a direct cost and included within cost of sales. |
Revenue from the sale of services is recognised when the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transactions will be received by the company; the stage of completion at the balance sheet date can be measured reliably and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
EQUIJUST LIMITED (REGISTERED NUMBER: 03127151) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 1ST MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
EQUIJUST LIMITED (REGISTERED NUMBER: 03127151) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 1ST MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 2nd March 2023 |
and 1st March 2024 |
DEPRECIATION |
At 2nd March 2023 |
Charge for year |
At 1st March 2024 |
NET BOOK VALUE |
At 1st March 2024 |
At 1st March 2023 |
5. | FIXED ASSET INVESTMENTS |
Own |
shares |
£ |
COST |
At 2nd March 2023 |
and 1st March 2024 |
NET BOOK VALUE |
At 1st March 2024 |
At 1st March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Related companies | 862,198 | 843,503 |
Other debtors |
Rental bond | 14,415 | 14,415 |
Prepayments and accrued income |
EQUIJUST LIMITED (REGISTERED NUMBER: 03127151) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 1ST MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Related companies | 822,941 | 857,492 |
Social security and other taxes |
VAT | 44,024 | 46,518 |
Other creditors |
Accruals |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the company invoiced Equijust Latin America, a company incorporated in the Cayman Islands and which undertakes business in Colombia £nil (2023 - £nil). The amount due from Equijust Latin America in respect of trading, at 1 March 2023 was £nil (2023 - £33,929) During the year, the company made purchases from Equijust Latin America of £95,922 (2023 - £63,044). The amount due to Equijust Latin America at 1 March 2024 was £834,231 (2023 - £834,231). A M Kidd and G E Parry are both directors of Equijust Latin America. |
During the year the company invoiced Equijust Inc. which is a company incorporated in Miami, United States of America, and undertakes business in the United States of America, £8,001 (2023 - £9,745). The amount due in respect of trading from Equijust Inc. at 1 March 2024 was £25,159 (2023 - £17,158) During the year, the company made purchases from Equijust Inc of £5,969 (2023 - £22,532). The amount due to Equijust Inc. at 1 March 2024 was £40,207 (2023 - £32,410). A M Kidd and G E Parry are both directors of Equijust Inc. |
On 30 April 2008 the company became a subsidiary of Trefynwy Adjusters Limited, a company incorporated in England and Wales. The company loaned Trefynwy Adjusters Limited £860,555 towards the purchase of its shareholding and transaction costs. During the year, the company did not make any purchases on behalf of Trefynwy Adjusters Limited (2023 - £300). The amount due to Equijust Limited as 1 March 2024 was £860,955 (2023 - £860,955). The loan is unsecured but repayable on demand. |
9. | ULTIMATE CONTROLLING PARTY |
A M Kidd and G E Parry are the ultimate controlling party of the company by virtue of their holding of 100% of the issued share capital of Trefynwy Adjusters Limited, and their own shareholdings in Equijust Limited. |