ACCOUNTS - Final Accounts

Registered number: 05499571

Ekwienox TMS Limited

Financial statements

Information for filing with the registrar

31 March 2025


Ekwienox TMS Limited

Balance sheet

At 31 March 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		-		775
Tangible assets	5		553		208
			553		983
Current assets
Debtors	6	6,154		12,354
Cash at bank and in hand		1,045		7,497
		7,199		19,851
Creditors: amounts falling due within one year	7	(6,173)		(17,059)
Net current assets			1,026		2,792
Total assets less current liabilities			1,579		3,775
Provisions for liabilities
Deferred tax		(105)		(52)
			(105)		(52)
Net assets			1,474		3,723

Capital and reserves
Called up share capital	2	2
Profit and loss account	1,472	3,721
Shareholders' funds	1,474	3,723


Ekwienox TMS Limited

Balance sheet (continued)

At 31 March 2025

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 November 2025.

G R Mayhill

Director

Company registered number: 05499571
The notes on pages 3 to 8 form part of these financial statements.


Ekwienox TMS Limited

Notes to the financial statements

Year ended 31 March 2025

1.	General information

The company is a private company limited by shares, incorporated and domiciled in the United Kingdom.
The address of the registered office is 2nd Floor, Citygate, St James Boulevard, Newcastle Upon Tyne, NE1 4JE.

2.Accounting policies

2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.


Ekwienox TMS Limited

Notes to the financial statements

Year ended 31 March 2025

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Intellectual property

years

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.


Ekwienox TMS Limited

Notes to the financial statements

Year ended 31 March 2025

2.Accounting policies (continued)

2.7

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

25%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).


Ekwienox TMS Limited

Notes to the financial statements

Year ended 31 March 2025

4.	Intangible assets

		Intellectual property
		£
	Cost
	At 1 April 2024	5,805
	At 31 March 2025	5,805
	Amortisation
	At 1 April 2024	5,030
	Charge for the year	775
	At 31 March 2025	5,805
	Net book value
	At 31 March 2025	-
	At 31 March 2024	775


Ekwienox TMS Limited

Notes to the financial statements

Year ended 31 March 2025

5.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 April 2024	1,255
	Additions	583
	At 31 March 2025	1,838
	Depreciation
	At 1 April 2024	1,047
	Charge for the year	238
	At 31 March 2025	1,285
	Net book value
	At 31 March 2025	553
	At 31 March 2024	208

Debtors

					2025	2024
					£	£


Other debtors	3,034	12,354
Prepayments and accrued income	3,120	-
	6,154	12,354


Ekwienox TMS Limited

Notes to the financial statements

Year ended 31 March 2025

7.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Trade creditors	1,020	786
Corporation tax	1,863	12,857
Other taxation and social security	646	-
Other creditors	34	106
Accruals and deferred income	2,610	3,310
	6,173	17,059