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Company No: 11835572 (England and Wales)

EQUANIMOUS VENTURES LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

EQUANIMOUS VENTURES LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

EQUANIMOUS VENTURES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
EQUANIMOUS VENTURES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,341 5,177
2,341 5,177
Current assets
Debtors 4 2,606 15,759
Investments 5 546 9,198
Cash at bank and in hand 4,106 60,301
7,258 85,258
Creditors: amounts falling due within one year 6 ( 600,765) ( 609,076)
Net current liabilities (593,507) (523,818)
Total assets less current liabilities (591,166) (518,641)
Creditors: amounts falling due after more than one year 7 ( 29,720) ( 35,435)
Net liabilities ( 620,886) ( 554,076)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 620,887 ) ( 554,077 )
Total shareholder's deficit ( 620,886) ( 554,076)

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

Director's responsibilities:

The financial statements of Equanimous Ventures Limited (registered number: 11835572) were approved and authorised for issue by the Director. They were signed on its behalf by:

T R Patel
Director

22 May 2025

EQUANIMOUS VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
EQUANIMOUS VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Equanimous Ventures Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company is able to meet its liabilities as they fall due for a period of 12 months from the date of the approval of these financial statements.

The Director has assessed the company’s financial position and is confident that the company will continue to operate as a going concern for the foreseeable future. Plans are in place to enhance trading performance through the implementation of new commercial strategies, which are expected to yield improved financial results. In addition, the Director has confirmed a commitment to provide financial support as required to enable the company to meet its obligations as they fall due.

The Director has also confirmed his ongoing support to the company and that he will not request repayment of amounts owed to him until cashflow permits.

The director is therefore of the opinion that the accounts should be prepared on the going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income as other comprehensive income.

Turnover

Turnover represents profits or losses on trading on a mark-to-market basis including unrealised trading profits and losses on open positions. Turnover is accounted for on a trade date basis.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company has chosen to adopt the sections 11 and 12 of FRS102 in respect of financial instruments.

Financial assets
Basic financial assets, including other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are offset and 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.

Financial assets and liabilities are offset and 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.

Derivative financial instruments
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in the Statement of Income and Retained Earnings immediately.

The Company does not apply hedge accounting.

Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 August 2023 12,295 12,295
At 31 July 2024 12,295 12,295
Accumulated depreciation
At 01 August 2023 7,118 7,118
Charge for the financial year 2,836 2,836
At 31 July 2024 9,954 9,954
Net book value
At 31 July 2024 2,341 2,341
At 31 July 2023 5,177 5,177

4. Debtors

2024 2023
£ £
Derivative financial instruments 2,606 15,759

The financial instruments included in debtors comprise of equity and index options held at fair value through profit and loss.

5. Current asset investments

2024 2023
£ £
Listed investments – at fair value 546 9,198

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 5,715 5,574
Other creditors 595,050 603,502
600,765 609,076

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 29,720 35,435

8. Related party transactions

Included within other creditors is a loan of £588,041 (2023: £597,000) owed to the director. This loan is unsecured and interest free, with no fixed repayment terms.