Company registration number 03256115 (England and Wales)
EQUILOGIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
EQUILOGIC LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
EQUILOGIC LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,309
9,430
Current assets
Debtors
4
2,506
6,737
Cash at bank and in hand
29,971
43,895
32,477
50,632
Creditors: amounts falling due within one year
5
(22,759)
(33,242)
Net current assets
9,718
17,390
Total assets less current liabilities
20,027
26,820
Creditors: amounts falling due after more than one year
6
(8,954)
(17,776)
Provisions for liabilities
(2,205)
(2,358)
Net assets
8,868
6,686
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
8,866
6,684
Total equity
8,868
6,686
EQUILOGIC LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 9 June 2025 and are signed on its behalf by:
Mr C P Flockhart
Mrs G D Flockhart
Director
Director
Company registration number 03256115 (England and Wales)
EQUILOGIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Equilogic Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.
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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Property improvements
25% on the written down value
Plant and machinery
25% on the written down value
Motor vehicles
25% on the written down value
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.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
EQUILOGIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023
8,807
29,321
38,128
Additions
3,675
3,675
At 30 September 2024
8,807
32,996
41,803
Depreciation and impairment
At 1 October 2023
6,821
21,877
28,698
Depreciation charged in the year
497
2,299
2,796
At 30 September 2024
7,318
24,176
31,494
Carrying amount
At 30 September 2024
1,489
8,820
10,309
At 30 September 2023
1,986
7,444
9,430
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,662
Other debtors
2,506
5,075
2,506
6,737
EQUILOGIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,951
8,731
Trade creditors
332
522
Taxation and social security
11,045
13,183
Other creditors
2,431
10,806
22,759
33,242
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,954
17,776
7
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Two Directors
-
(10,216)
42,477
(30,600)
1,661
(10,216)
42,477
(30,600)
1,661
The aforementioned advances are unsecured and repayable on demand.