Registered number
04743716
Equify Limited
Filleted Accounts
30 September 2024
Equify Limited
Registered number: 04743716
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 882,814 886,430
Investments 4 225,113 225,113
1,107,927 1,111,543
Current assets
Debtors 5 201,887 201,887
Cash at bank and in hand 61,851 83,963
263,738 285,850
Creditors: amounts falling due within one year 6 (50,847) (59,103)
Net current assets 212,891 226,747
Total assets less current liabilities 1,320,818 1,338,290
Creditors: amounts falling due after more than one year 7 (1,556) (19,925)
Provisions for liabilities (55,431) (55,431)
Net assets 1,263,831 1,262,934
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,263,731 1,262,834
Shareholder's funds 1,263,831 1,262,934
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Puxley
Director
Approved by the board on 5 December 2024
Equify Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 865,000 42,724 907,724
At 30 September 2024 865,000 42,724 907,724
Depreciation
At 1 October 2023 - 21,294 21,294
Charge for the year - 3,616 3,616
At 30 September 2024 - 24,910 24,910
Net book value
At 30 September 2024 865,000 17,814 882,814
At 30 September 2023 865,000 21,430 886,430
Freehold land and buildings: 2024 2023
£ £
Historical cost 419,969 419,969
Cumulative depreciation based on historical cost - -
419,969 419,969
4 Investments
Other
investments
£
Cost
At 1 October 2023 225,113
At 30 September 2024 225,113
5 Debtors 2024 2023
£ £
Other debtors 201,887 201,887
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,520 20,520
Taxation and social security costs 1,057 (236)
Other creditors 29,270 38,819
50,847 59,103
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,556 19,925
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 22,076 40,445
The bank loan is secured by a charge over the property.
9 Controlling party
The ultimate controlling party is S Puxley
10 Other information
Equify Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office 6, Town Hall
86 Watling Street East
Towcester
Northants
NN12 6BS
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