Company registration number 10937469 (England and Wales)
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
COMPANY INFORMATION
Directors
M Ismailjee
F Sheikh
Company number
10937469
Registered office
4th Floor
Parkview
82 Oxford Road
Uxbridge
UB8 1UX
Accountants
Moore Northern Home Counties Limited
East Wing
Goffs Oak House
Goffs Lane
Goffs Oak
Hertfordshire
EN7 5GE
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Statement of changes in equity
5
Statement of cash flows
6
Notes to the financial statements
7 - 12
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company continued to be that of property investment.

Results and dividends

The results for the year are set out on page 3.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M Ismailjee
F Sheikh
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
F Sheikh
Director
26 February 2026
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aequitas Estates (Midlands No 2) Limited for the year ended 31 March 2025 which comprise the income statement, the statement of financial position, the statement of changes in equity, the statement of cash flows and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Aequitas Estates (Midlands No 2) Limited, as a body, in accordance with the terms of our engagement letter dated 21 June 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Aequitas Estates (Midlands No 2) Limited and state those matters that we have agreed to state to the b oard of d irectors of Aequitas Estates (Midlands No 2) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aequitas Estates (Midlands No 2) Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Aequitas Estates (Midlands No 2) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Aequitas Estates (Midlands No 2) Limited. You consider that Aequitas Estates (Midlands No 2) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Aequitas Estates (Midlands No 2) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Moore Northern Home Counties Limited
Chartered Accountants
East Wing
Goffs Oak House
Goffs Lane
Goffs Oak
Hertfordshire
EN7 5GE
26 February 2026
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
2025
2024
Notes
£
£
Revenue
-
-
Cost of sales
-
0
-
0
Gross profit
-
-
Administrative expenses
-
0
(100)
Operating profit/(loss)
-
(100)
Income tax (expense)/income
4
-
9,011
Profit and total comprehensive income for the year
-
0
8,911

The income statement has been prepared on the basis that all operations are continuing operations.

AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 4 -
2025
2024
Notes
£
£
Current assets
Trade and other receivables
5
115,684
120,033
Current liabilities
Trade and other payables
6
106,604
110,953
Current tax liabilities
69
69
106,673
111,022
Net current assets
9,011
9,011
Net assets
9,011
9,011
Equity
Called up share capital
7
100
100
Retained earnings
8,911
8,911
Total equity
9,011
9,011

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question 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.

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

The financial statements were approved by the board of directors and authorised for issue on 26 February 2026 and are signed on its behalf by:
F Sheikh
Director
Company registration number 10937469 (England and Wales)
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
Share capital
Retained earnings
Total
£
£
£
Balance at 1 April 2023
100
-
0
100
Year ended 31 March 2024:
Profit and total comprehensive income
-
8,911
8,911
Balance at 31 March 2024
100
8,911
9,011
Year ended 31 March 2025:
Balance at 31 March 2025
100
8,911
9,011
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
10
-
(100)
Income taxes refunded
-
0
100
Net cash inflow from operating activities
-
-
Net increase in cash and cash equivalents
-
0
-
0
Cash and cash equivalents at beginning of year
-
0
-
0
Cash and cash equivalents at end of year
-
0
-
0
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
1
Accounting policies
Company information

Aequitas Estates (Midlands No 2) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, Parkview, 82 Oxford Road, Uxbridge, UB8 1UX. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Accounting convention

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.

The financial statements have been prepared on the historical cost basis, except for investment properties and financial instruments which have been measured at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the true company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fair value measurement

IFRS 13 establishes a single source of guidance for all fair value measurements. IFRS 13 does not change when an entity is required to use fair value, but rather provides guidance on how to measure fair value under IFRS when fair value is required or permitted. The resulting calculations under IFRS 13 affected the principles that the c ompany uses to assess the fair value, but the assessment of fair value under IFRS 13 has not materially changed the fair values recognised or disclosed. IFRS 13 mainly impacts the disclosures of the c ompany. It requires specific disclosures about fair value measurements and disclosures of fair values, some of which replace existing disclosure requirements in other standards.

1.4
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Loans and receivables

Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets

Financial assets, other than those at FVTPL, are assessed for indicators of impairment at each reporting end date.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.5
Financial liabilities

The company recogni s es financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 8 -
Other financial liabilities

Other financial liabilities, including borrowings, are initially measured at fair value, net of transaction costs. They are subsequently measured at amortised cost using the effective interest method, with interest expense recognised on an effective yield basis.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
2
Adoption of new and revised standards and changes in accounting policies

At the date of authorisation of these financial statements, certain new standards, amendments and interpretations to existing standards have been published by the IASB but are not yet effective and these have not been applied early by the company. Management anticipates that the following pronouncements relevant to the companies operation will be adopted in the companies accounting policies for the first period beginning after the effective date of the pronouncement, once adopted by the UK:

Title |  |  | Subject |  | Effective date per standard
Amendments to IAS 12 deferred tax related to assets and liabilities arising from a single transaction |  |  | Recognition of deferred tax on transactions that, on initial recognition give rise to equal amounts of taxable and deductible temporary differences |  | 1 January 2023
Amendments to IAS 12 international tax reform |  |  | Amendments provide a temporary exception to the requirements regarding deferred tax assets and liabilities related to pillar two income taxes |  | 1 January 2023
Narrow scope amendments to IAS 1, practice statement 2 and IAS 8 |  |  | Improved accounting policy disclosures |  | 1 January 2023
Amendments to IFRS 16, lease liability in a sale and leaseback |  |  | Amendments clarify how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale. |  | 1 January 2024
Amendments to IAS 1, Non-current liabilities with covenants |  |  | Amendments clarify how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability |  | 1 January 2024
Disclosures: Supplier Finance Arrangements |  |  | Amendments to IAS 7 and IFRS 7 |  | 1 January 2024

Issued IFRS not yet effective

At the date of authorisation of these financial statements, certain new standards, amendments and interpretations to existing standards have been published by the IASB but are not yet effective and these have not been applied early by the company. Management anticipates that the following pronouncements relevant to the companies operation will be adopted in the companies accounting policies for the first period beginning after the effective date of the pronouncement:

Title |  |  | Subject |  | Effective date per standard
Annual Improvements to IFRS Standards 2018–2020 Volume 11 |  |  | Amendments to IFRS 1, IFRS 7, IFRS9, and IFRS10 |  | 1 January 2026
Subsidiaries without Public Accountability: Disclosures |  |  | IFRS 18 and 19 specifies reduced disclosure requirements in financial statements |  | 1 January 2027
Classification and Measurement of financial instruments |  |  | Amendments to IFRS 9 and IFRS 7 for the Classification and Measurement of Financial Instruments. |  | 1 January 2026
Lack of exchangeability |  |  | Amendments to IAS 21 |  | 1 January 2025

AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2
Adoption of new and revised standards and changes in accounting policies
(Continued)
- 10 -

Title |  |  | Subject |  | Effective date per standard
Contracts Referencing Nature-dependent Electricity – |  |  | Amendments to IFRS 9 and IFRS 7 |  | 1 January 2026
IFRS 18 – Presentation and Disclosure in Financial Statements |  |  |  |  | 1 January 2027
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture |  |  | Amendments to IFRS 10 and IAS 28 |  | Note (a)

Note (a): In December 2015, the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting.

The Directors expect that the adoption of the standards listed above will not have a material impact on the financial information of the company in future reporting periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Management
2
2
4
Income tax expense
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
-
0
(9,011)

The charge for the year can be reconciled to the loss per the income statement as follows:

2025
2024
£
£
Loss before taxation
-
(100)
Expected tax charge/(credit) based on a corporation tax rate of 0% (2024: 25.00%)
-
0
(25)
Effect of expenses not deductible in determining taxable profit
-
0
25
Adjustment in respect of prior years
-
0
(9,011)
Taxation charge/(credit) for the year
-
(9,011)
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
5
Trade and other receivables
2025
2024
£
£
VAT recoverable
679
1,497
Amount owed by parent undertaking
114,905
118,436
Other receivables
100
100
115,684
120,033

6
Trade and other payables
2025
2024
£
£
Trade payables
8,400
8,400
Accruals
98,204
102,553
106,604
110,953
7
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
AEQUITAS ESTATES (MIDLANDS NO 2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
8
Capital risk management

The company is not subject to any externally imposed capital requirements.

9
Related party transactions

At the balance sheet date, the company was owed £114,905 (202 4: £118,436) by Aequitas Estates Limited, its parent company.

10
Cash absorbed by operations
2025
2024
£
£
Loss for the year before taxation
-
(100)
Movements in working capital:
Decrease in trade and other receivables
4,349
6,535
Decrease in trade and other payables
(4,349)
(6,535)
Cash absorbed by operations
-
(100)
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