| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| Equ Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| Equ Ltd |
| Equ Ltd (Registered number: 11499040) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 9 |
| Equ Ltd |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Maxwell House |
| Liverpool Innovation Park |
| Liverpool |
| Merseyside |
| L7 9NJ |
| Equ Ltd (Registered number: 11499040) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| Equ Ltd (Registered number: 11499040) |
| Balance Sheet - continued |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 11 | ( |
) |
| Retained earnings | ( |
) |
| ( |
) |
| The director acknowledges her 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. |
| The financial statements were approved by the director and authorised for issue on |
| Equ Ltd (Registered number: 11499040) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Equ Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
| Significant judgements and estimates |
| (i) Investment property |
| The fair value of investment property is assessed at each reporting date. The company will appoint a person with suitable qualifications and experience to value the property. The key factors considered when valuing the investment property are the condition of the property, market demand and comparability with similar properties in the local area. |
| Turnover |
| Turnover represents rents received net of value added tax. |
| Revenue recognition |
| Rent is recognised in the period to which it relates. |
| Tenant deposits are recognised as income to the extent they are withheld and at the point that |
| the amount to be withheld is formally agreed with the tenant. |
| Tangible fixed assets |
| Investment property |
| Investment properties are initially recognised at cost and subsequently carried at fair value. Investment properties are revalued annually with any surplus or deficit being going through profit and loss. No depreciation is provided in respect of investment properties. |
| Equ Ltd (Registered number: 11499040) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties. |
| Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument. |
| (i) Cash and cash equivalents |
| These comprise cash at bank and other short-term deposits. |
| (ii) Loans |
| Basic loans are initially measured at transaction price and subsequently carried at amortised cost using the effective interest method. |
| Taxation |
| Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Equ Ltd (Registered number: 11499040) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| Revaluations | (62,719 | ) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Investment property comprised of two properties. The property values were assessed at the balance sheet date by local estate agents who gave a combined valuation for these properties of £1,200,000. |
| There are no restrictions on the realisability of investment property or on the remittance of income and proceeds of disposal. |
| Fair value at 31 August 2024 is represented by: |
| £ |
| Valuation in 2024 | 1,200,000 |
| Equ Ltd (Registered number: 11499040) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Amounts owed to associates | 10,682 | 5,682 |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans |
| Amounts owed to associates | 628,939 | 628,939 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans |
| Molo Holdings No.1 Limited has a fixed charge over Flat 3, 12 Ellerdale Road, London, NW3 6BB. |
| Equ Ltd (Registered number: 11499040) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 September 2023 | ( |
) |
| retained earnings transfer | 58,289 |
| At 31 August 2024 |
| 12. | OFF-BALANCE SHEET ARRANGEMENTS |
| The company has no off-balance sheet arrangements. |
| 13. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the company owed £639,620 (PY: £639,620) to Wadkins & Associates Ltd, a related party due to having a common shareholder/director. |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Equ Ltd |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Equ Ltd for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Equ Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Equ Ltd and state those matters that we have agreed to state to the director of Equ Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Equ Ltd and its director for our work or for this report. |
| It is your duty to ensure that Equ Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Equ Ltd. You consider that Equ Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Equ Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Maxwell House |
| Liverpool Innovation Park |
| Liverpool |
| Merseyside |
| L7 9NJ |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Equ Ltd |