Company registration number 14321967 (England and Wales)
EQUITY BUILD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
EQUITY BUILD LTD
COMPANY INFORMATION
DIRECTORS
Mohammed Ghani
Fesal Sohail
COMPANY NUMBER
14321967
REGISTERED OFFICE
68-70 Cowbridge Road East
CARDIFF
CF11 9DU
ACCOUNTANTS
Kilsby & Williams LLP
Cedar House
Hazell Drive
Newport
South Wales
NP10 8FY
EQUITY BUILD LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
EQUITY BUILD LTD
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
FIXED ASSETS
Investment property
3
311,988
311,988
CURRENT ASSETS
Debtors
4
713
28,473
Cash at bank and in hand
735
485
1,448
28,958
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5
(326,226)
(345,930)
NET CURRENT LIABILITIES
(324,778)
(316,972)
NET LIABILITIES
(12,790)
(4,984)
CAPITAL AND RESERVES
Called up share capital
200
200
Profit and loss reserves
(12,990)
(5,184)
TOTAL EQUITY
(12,790)
(4,984)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

EQUITY BUILD LTD
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 April 2025 and are signed on its behalf by:
Fesal Sohail
Director
Company registration number 14321967 (England and Wales)
EQUITY BUILD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
ACCOUNTING POLICIES
Company information

Equity Build Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 68-70 Cowbridge Road East, CARDIFF, CF11 9DU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts show that the company had net liabilities of £true12,790 (2023 - £4,984) at the balance sheet date. The directors have therefore had to consider the appropriateness of the going concern basis.The company has been able to finance its operations largely because of support from the directors and other creditors. Were this support not available, the company may not be able to continue trading.The directors are confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of these creditors. They therefore consider it appropriate to prepare the accounts on the going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

EQUITY BUILD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.4
Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2
EMPLOYEES
2024
2023
Number
Number
Total
-
0
-
0
3
INVESTMENT PROPERTY
2024
£
Fair value
At 1 September 2023 and 31 August 2024
311,988

Property that is held for long-term rental yields or for capital appreciation is classified as investment property. Investment property is measured initially at cost, including related transaction costs and where applicable borrowing costs. After initial recognition, investment property is carried at fair value. Fair value is based on active market prices, adjusted, if necessary for differences in nature, location or condition of the specific asset. If this information is not available, the company uses alternative valuation methods, such as recent prices on less active markets on discounted cash flow projections. Valuations are performed as of the balance sheet date by professional valuers who hold recognised and relevant professional qualifications and have recent experience in the location and category of the investment property being valued.idence of transaction prices for similar properties.

EQUITY BUILD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
4
DEBTORS
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
300
Other debtors
713
28,173
713
28,473
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Other creditors
326,226
345,930

Included within other creditors is £285,506 (2023 - 268,757) due to parties where the directors have a participating interest.

7
DIRECTORS' TRANSACTIONS

Included within other creditors is £38,360 (2023 - £75,360) due to directors.

 

These balances are interest free and repayable on demand.

 

2024-08-312023-09-01falsefalsefalse10 April 2025CCH SoftwareCCH Accounts Production 2024.310During the year, the company's principal activity was the development of building projects, construction of commercial buildings, construction of domestic buildings and the buying and selling of own real estate.

Mohammed GhaniFesal Sohail
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