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Equity Norwood (Enl) Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Kane & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06457680
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 100,000 100,000
100,000 100,000
CURRENT ASSETS
Stocks 5 1,168,800 1,118,000
Debtors 6 150,000 150,000
Cash at bank and in hand 59,188 55,491
1,377,988 1,323,491
Creditors: Amounts Falling Due Within One Year 7 (344,219 ) (328,964 )
NET CURRENT ASSETS (LIABILITIES) 1,033,769 994,527
TOTAL ASSETS LESS CURRENT LIABILITIES 1,133,769 1,094,527
Creditors: Amounts Falling Due After More Than One Year 8 (1,358,628 ) (1,321,533 )
NET LIABILITIES (224,859 ) (227,006 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (224,959 ) (227,106 )
SHAREHOLDERS' FUNDS (224,859) (227,006)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ajay Marria
Director
18/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Equity Norwood (Enl) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06457680 . The registered office is 4a Hill Drive, London, SW16 4NP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investments
Listed
£
Cost
As at 1 June 2023 100,000
As at 31 May 2024 100,000
Provision
As at 1 June 2023 -
As at 31 May 2024 -
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 May 2024 100,000
As at 1 June 2023 100,000
5. Stocks
2024 2023
£ £
Work in progress 1,168,800 1,118,000
6. Debtors
2024 2023
£ £
Due within one year
EWL Loan 150,000 150,000
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
VAT 2,769 3,142
Accruals and deferred income 341,450 325,822
344,219 328,964
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Investor's Loan 707,608 656,808
Handelsbanken Land Loan 651,020 664,725
1,358,628 1,321,533
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4