EQUIVALENT ENGINEERING LTD

Company Registration Number:
04321179 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

EQUIVALENT ENGINEERING LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

EQUIVALENT ENGINEERING LTD

Balance sheet

As at 31 December 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 46,650 51,833
Total fixed assets: 46,650 51,833
Current assets
Stocks: 152,285 172,285
Debtors: 4 139,236 138,894
Cash at bank and in hand: 69,298 80,504
Total current assets: 360,819 391,683
Creditors: amounts falling due within one year: 5 (259,460) (238,245)
Net current assets (liabilities): 101,359 153,438
Total assets less current liabilities: 148,009 205,271
Creditors: amounts falling due after more than one year: 6 (95,067) (165,900)
Provision for liabilities: (11,662) (13,018)
Total net assets (liabilities): 41,280 26,353
Capital and reserves
Called up share capital: 580 580
Profit and loss account: 40,700 25,773
Shareholders funds: 41,280 26,353

The notes form part of these financial statements

EQUIVALENT ENGINEERING LTD

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 June 2025
and signed on behalf of the board by:

Name: Ryan Walker
Status: Director

The notes form part of these financial statements

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 25 22

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible Assets

Total
Cost £
At 01 January 2024 280,084
At 31 December 2024 280,084
Depreciation
At 01 January 2024 228,251
Charge for year 5,183
At 31 December 2024 233,434
Net book value
At 31 December 2024 46,650
At 31 December 2023 51,833

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

31 Dec 2024 31 Dec 2023 Bank Loans and overdrafts £71563 £72020 Trade Creditors £110172 £103544 Taxation and Social Security costs £63069 £62681 Other creditors £14656 £0 Total £259460 £238245 Included within Other creditors is £4940 owed to a director.

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Creditors: amounts falling due after more than one year note

Bank loans £95067 £165900

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Financial commitments

Secured bank loans £165903 £236736On 7 April 2020, the company obtained £150000 CBILs Coronavirus Business Interruption Loan Scheme. £120000 of the loan is guaranteed by the Department for Business Energy and Industrial Strategy but the Company remains liable for all sums payable under the agreement in the event of a default. The loan is being repaid at £2500 per month. The first 12 months of drawdown was interest free and then reverts to 4.21percent over Bank Base Rate. The final repayment date is 6 years from date of drawdownOn 21 December 2021, the company signed for a £245000 Recovery Loan. The loan is partially guaranteed by the Department for Business Energy and Industrial Strategy but the Company remains liable for all sums payable under the agreement in the event of a default.. The loan can be drawn within 3 months from the agreement date. The interest rate is 4.65percent over Bank Base Rate. The final repayment date is 72 months after drawdown. The loan was drawn in January 2022. The loan is secured by a Debenture with National Westminster Bank Plc and the Company

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

8. Loans to directors

Name of director receiving advance or credit: Ryan Walker
Description of the loan: Loan 1 31 Dec 22, interest charged at HMRC official rate
£
Balance at 01 January 2024 28,401
Advances or credits repaid: 28,401
Balance at 31 December 2024 0
Name of director receiving advance or credit: Ryan Walker
Description of the loan: Loan 2 31 Dec 23, interest charged at HMRC official rate
£
Balance at 01 January 2024 11,354
Advances or credits repaid: 11,354
Balance at 31 December 2024 0
Name of director receiving advance or credit: Ryan Walker
Description of the loan: Loan 3 31 Dec 24 Interest charged at HMRC official rate
£
Balance at 01 January 2024 0
Advances or credits made: 12,473
Advances or credits repaid: 12,473
Balance at 31 December 2024 0
Name of director receiving advance or credit: Lisa Walker
Description of the loan: Loan 1 31 Dec 22 Interest charged at HMRC official rate
£
Balance at 01 January 2024 15,492
Advances or credits repaid: 15,492
Balance at 31 December 2024 0
Name of director receiving advance or credit: Lisa Walker
Description of the loan: Loan 2 31 Dec 23 Interest charged at HMRC official rate
£
Balance at 01 January 2024 12,031
Advances or credits repaid: 12,031
Balance at 31 December 2024 0
Name of director receiving advance or credit: Lisa Walker
Description of the loan: Loan 3 31 Dec 24 Interest charged at HMRC official rate
£
Balance at 01 January 2024 0
Advances or credits made: 8,167
Advances or credits repaid: 8,167
Balance at 31 December 2024 0

Loans, up to £10,000, to directors are interest free and repayable on demand. If the loan exceeds £10,000, interest is charged to the directors at the HMRC official interest.rates. Total interest charged, and paid, was £1,105. In November 2024, the directors repaid all outstanding loans, due to the company, in full. The balance on the director loan account, as at 31 December 2024 is in credit. All s455 payments to HMRC are to be recovered in full.

EQUIVALENT ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

9. Related party transactions

related party transactions relate to director loans