Registered number
06906711
Equal Partnerships Ltd
Filleted Accounts
31 March 2024
Equal Partnerships Ltd
Registered number: 06906711
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,787 1,353
1,787 1,353
Current assets
Debtors 5 10,634 -
Cash at bank and in hand 252,862 326,677
263,496 326,677
Creditors: amounts falling due within one year 6 (110,698) (136,818)
Net current assets 152,798 189,859
Total assets less current liabilities 154,585 191,212
Net assets 154,585 191,212
Capital and reserves
Called up share capital 20 20
Profit and loss account 154,565 191,192
Shareholders' funds 154,585 191,212
The directors are 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 directors acknowledge their 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.
Approved and authorised by the Board on 25 October 2024
Miss Margaret Rose McGreevy
Director
Mrs Janis Marguerite White
Director
Equal Partnerships Ltd
Notes to the Accounts
for the year ended 31 March 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 rendering of services. 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:
Office furniture and equipment 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the
cash or other resources received or receivable, net of the direct costs of issuing the equity
instruments. If payment is deferred and the time value of money is material, the initial
measurement is on a present value basis.
Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial
statements in the reporting period in which the dividends are declared.
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 48 54
3 Profit before tax 2024 2023
Arrived at after charging/(crediting) £ £
Depreciation expense 572 643
4 Tangible fixed assets
Furniture, fittings and equipment Total
£ £
Cost
At 1 April 2023 3,210 3,210
Additions 1,006 1,006
Disposals - -
At 31 March 2024 4,216 4,216
Depreciation
At 1 April 2023 1,857 1,857
Charge for the year 572 572
On disposals - -
At 31 March 2024 2,429 2,429
Net book value
At 31 March 2024 1,787 1,787
At 31 March 2023 1,353 1,353
5 Debtors 2024 2023
£ £
Trade debtors 10,634 -
10,634 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,480 -
Taxation and social security costs 50,435 57,999
Accruals and deferred income 29,034 18,367
Other creditors 25,749 60,452
110,698 136,818
7 Share capital
Allotted, called up and fully paid shares
2023 2024
No. £ No. £
Ordinary Shares of £1 each 20 20 20 20
8 Dividends 2024 2023
Interim dividends paid £ £
Interim dividend of £4,500.00 (2023 - £6,650.00) per each
Ordinary Shares 90,000 133,000
9 Related party transactions 2024 2023
Directors' remuneration £ £
The directors' remuneration for the year was as follows:
Remuneration 25,140 25,140
10 Other information
Equal Partnerships Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4A Kingfisher Way
Silverlink Business Park
Wallsend
Newcastle upon Tyne
NE28 9NX
Equal Partnerships Ltd 06906711 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Miss Margaret Rose McGreevy No description of principal activity 06906711 2022-04-01 2023-03-31 06906711 core:WithinOneYear 2023-03-31 06906711 core:ShareCapital 2023-03-31 06906711 core:RetainedEarningsAccumulatedLosses 2023-03-31 06906711 2023-04-01 2024-03-31 06906711 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06906711 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06906711 bus:Director40 2023-04-01 2024-03-31 06906711 1 2023-04-01 2024-03-31 06906711 2 2023-04-01 2024-03-31 06906711 core:PlantMachinery 2023-04-01 2024-03-31 06906711 countries:England 2023-04-01 2024-03-31 06906711 bus:FRS102 2023-04-01 2024-03-31 06906711 bus:FilletedAccounts 2023-04-01 2024-03-31 06906711 2024-03-31 06906711 core:WithinOneYear 2024-03-31 06906711 core:ShareCapital 2024-03-31 06906711 core:RetainedEarningsAccumulatedLosses 2024-03-31 06906711 core:PlantMachinery 2024-03-31 06906711 2023-03-31 06906711 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure