Aequus Land Ltd


Directors	Simon A M Corner
	Lee M Turner


Company Secretary	Lee M Turner


Registered Address	Grosvenor House
	St. Pauls Square
	Birmingham
	B3 1RB


Registered Number	06613088 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	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).

	Going concern
	The financial statements have been prepared on a going concern basis with the Directors having given due consideration to the potential impact of the Covid-19 pandemic. The Directors are of the opinion that neither the Company's trading position nor the value of it's assets will be significantly impaired.

	Turnover policy
	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.

	Revenue from sale of goods
	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.

Revenue from sale of goods

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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	15
	Vehicles	25
	Office Equipment	15

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.

	Investment property
	Investment property is carried at fair value, derived from the current market prices for comparable real estate determined periodically by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	3		3

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	137,175	34,326	14,979	186,480
Additions	7,581	41,578	416	49,575
Disposals	-	(34,326)	-	(34,326)
At 31 March 25	144,756	41,578	15,395	201,729
Depreciation and impairment
At 01 April 24	32,801	26,180	9,088	68,069
Charge for year	16,603	7,796	889	25,288
On disposals	-	(26,180)	-	(26,180)
At 31 March 25	49,404	7,796	9,977	67,177
Net book value
At 31 March 25	95,352	33,782	5,418	134,552
At 31 March 24	104,374	8,146	5,891	118,411

4.	Investment property
	The Directors have reviewed the valuation of the investment property in regard to the current market conditions. They are of the opinion that the current value is fair and that there has been no significant impairment. There has been no valuation of investment property by an independent valuer.


		£
	Fair value at 01 April 24	2,963,032
	Additions	357,000
	At 31 March 25	3,320,032

5.	Fixed asset investments
	Subsidiary undertakings Maximus Strategic Land Limited - 60% holding - principal activity of Maximus Strategic Land Limited is property development. Avenbury Estates Limited - 50% holding - principal activity of Avenbury Estates Limited is property development. Aequus Land (Dorrington) Limited 100% holding - principal activity of Aequus Land (Dorrington) Limited is residential property development. Templechain Limited - 100% holding - principal activity of Templechain Limited is property development. Aequus Land (Ludlow) Ltd - 50% holding - principal activity of Aequus Land (Ludlow) Ltd is property development. Maximus Aequus Ltd - 50% holding - principal activity of Maximus Aequus Ltd is property development. Metis Developments (The Knoll) Ltd - 100% holding - principal activity of Metis Developments (The Knoll) Ltd is property development. Associates Mortr Limited - 20% holding - principal activity of Mortr Limited is software development.

Fixed asset investments

Subsidiary undertakings

Maximus Strategic Land Limited - 60% holding -  principal activity of Maximus Strategic Land Limited is property development.

Avenbury Estates Limited - 50% holding - principal activity of Avenbury Estates Limited is property development.

Aequus Land (Dorrington) Limited 100% holding - principal activity of Aequus Land (Dorrington) Limited is residential property development.

Templechain Limited - 100% holding - principal activity of Templechain Limited is property development.

Aequus Land (Ludlow) Ltd - 50% holding - principal activity of Aequus Land (Ludlow) Ltd is property development.

Maximus Aequus Ltd - 50% holding - principal activity of Maximus Aequus Ltd is property development.

Metis Developments (The Knoll) Ltd - 100% holding - principal activity of Metis Developments (The Knoll) Ltd is property development.

Associates

Mortr Limited - 20% holding - principal activity of Mortr Limited is software development.

	Investments in groups¹	Loans to groups²	Total
	£	£	£
Cost or valuation
At 01 April 24	24,931	2,311,337	2,336,268
Disposals	-	(1,258,029)	(1,258,029)
At 31 March 25	24,931	1,053,308	1,078,239
Net book value
At 31 March 25	24,931	1,053,308	1,078,239
At 31 March 24	24,931	2,311,337	2,336,268

	Notes
	¹Investments in group undertakings and participating interests ²Loans to group undertakings and participating interests

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	72,193	29,193
Total	72,193	29,193

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	10,518	4,944
Bank borrowings and overdrafts	-	400,000
Amounts owed to related parties	2,002,937	752,667
Taxation and social security	9,310	13,231
Finance lease and HP contracts	15,959	18,404
Other creditors	2,387	2,213
Accrued liabilities and deferred income	35,591	41,622
Total	2,076,702	1,233,081


	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.

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	390,000	390,000
Amounts owed to related parties	687,191	2,584,819
Other creditors	9,807	7,821
Total	1,086,998	2,982,640


	A bank loan is denominated in sterling with a nominal interest rate of 3.25% above base rate. The carrying amount at year end is £390,000 (2024 - £390,000). The loan was secured by a first priority legal charge over the Company's investment property. Other creditors after one year relate to transactions with other related parties which are detailed within that specific note in these financial statements.

A  bank loan is denominated in sterling with a nominal interest rate of 3.25% above base rate. The carrying amount at year end is £390,000 (2024 - £390,000).  The loan was secured by a first priority legal charge over the Company's investment property.

Other creditors after one year relate to transactions with other related parties which are detailed within that specific note in these financial statements.

9.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	25,766		26,225

10.	Related party transactions
	A Director's loan with a carrying amount of £2,687,191 (2024 - £2,584,819) is denominated in sterling. This has been provided on an unsecured, interest free basis. £2,000,000 (2024: £750,000) is due to be withdrawn within one year with no fixed repayment date for the balance. An amount of £2,937 (2024: £2,667) is owing to a shareholder of the Company. This loan is unsecured, interest free and repayable on demand.

10.

Related party transactions

A Director's loan with a carrying amount of £2,687,191 (2024 - £2,584,819) is denominated in sterling. This has been provided on an unsecured, interest free basis. £2,000,000 (2024: £750,000) is due to be withdrawn within one year with no fixed repayment date for the balance. 

An amount of £2,937 (2024: £2,667) is owing to a shareholder of the Company.  This loan is unsecured, interest free and repayable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		134,552		118,411
Investments	5		1,078,239		2,336,268
Investment property	4		3,320,032		2,963,032
			4,532,823		5,417,711
Current assets
Debtors	6	72,193		29,193
Cash at bank and on hand		427,066		601,415
		499,259		630,608
Creditors amounts falling due within one year	7	(2,076,702)		(1,233,081)
Net current assets (liabilities)			(1,577,443)		(602,473)
Total assets less current liabilities			2,955,380		4,815,238
Creditors amounts falling due after one year	8		(1,086,998)		(2,982,640)
Net assets			1,868,382		1,832,598
Capital and reserves
Called up share capital			100		100
Profit and loss account			1,868,282		1,832,498
Shareholders' funds			1,868,382		1,832,598