Company No: 04344852 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	Alexandra May Parsons
	David Steed
	Piers David Steed

Registered office	40 Spratling Street
	Manston
	Ramsgate
	CT12 5AN
	United Kingdom

Company number

04344852 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	785,653		721,813
		785,653		721,813
Current assets
Debtors	4	9,028		9,852
Cash at bank and in hand	5	87,773		141,587
		96,801		151,439
Creditors: amounts falling due within one year	6	( 83,925)		( 80,060)
Net current assets		12,876		71,379
Total assets less current liabilities		798,529		793,192
Creditors: amounts falling due after more than one year	7	( 151,532)		( 164,367)
Provision for liabilities	8	( 6,550)		( 4,412)
Net assets		640,447		624,413
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		640,347		624,313
Total shareholders' funds		640,447		624,413

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

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Equus Assets Limited (registered number: 04344852) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Piers David Steed Director

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

Equus Assets 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 40 Spratling Street, Manston, Ramsgate, CT12 5AN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

Land and buildings	not depreciated
Assets under construction	not depreciated
Plant and machinery	10 years straight line
Office equipment	20 % reducing balance

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Assets under construc- tion		Plant and machinery		Office equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	625,967		89,957		186,853		15,087		917,864
Additions	0		67,305		0		0		67,305
Disposals	0		0		( 8,400)		0		( 8,400)
Transfers	157,262		( 157,262)		0		0		0
At 31 December 2024	783,229		0		178,453		15,087		976,769
Accumulated depreciation
At 01 January 2024	0		0		184,534		11,517		196,051
Charge for the financial year	1,048		0		1,703		714		3,465
Disposals	0		0		( 8,400)		0		( 8,400)
At 31 December 2024	1,048		0		177,837		12,231		191,116
Net book value
At 31 December 2024	782,181		0		616		2,856		785,653
At 31 December 2023	625,967		89,957		2,319		3,570		721,813

4. Debtors

	2024		2023
	£		£
Trade debtors	4,248		3,815
Other debtors	4,780		6,037
	9,028		9,852

5. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	87,773		141,587

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	1,217		77
Corporation tax	3,205		2,800
Other taxation and social security	9,270		0
Other creditors	70,233		77,183
	83,925		80,060

Other creditors includes a loan from P D Steed and A M Parsons, the directors and shareholders, amounting to £30,000 (2023 - £30,000). The loan is interest free and no date has been set for its repayment.

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

	2024		2023
	£		£
Other creditors	151,532		164,367

Other creditors includes a loan from P D Steed and A M Parsons, the directors and shareholders, amounting to £151,532 (2023 - £164,367). The loan is interest free and no date has been set for its repayment.

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 4,412)		( 4,431)
(Charged)/credited to the Statement of Income and Retained Earnings	( 2,138)		19
At the end of financial year	( 6,550)		( 4,412)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 6,550)		( 4,412)

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100