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Registered number:
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
COMPANY INFORMATION
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EQUITA LIMITED
CONTENTS
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EQUITA LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their Strategic Report for Equita Limited for the year ended 31 December 2025. The report provides a review of the Company’s performance, position and principal risks, together with key financial and non-financial performance indicators.
Equita Limited ("the Company") is a wholly owned subsidiary, at the balance sheet date, of Colx Limited.
The principal activity of the Company continued to be that of the provision of specialised financial and business services to selected professional markets including local authorities, the legal profession and commercial property owners and managers. Such services include debt recovery, certificated enforcement agents services and process services. There have not been any significant changes in the Company's principal activities in the year under review. The Directors are not aware, at the date of this report, of any likely major changes in the Company's activities in the next year. As shown in the Company's statement of comprehensive income on page 9, revenue has increased slightly from £16,944,271 in 2024 to £17,451,011 and the performance has increased from an operating profit of £156,195 to £3,238,780 over the same period. The increase relates to material cost of severance pay in 2024, and the associated reduction of indirect and overhead staff costs throughout 2025. The balance sheet on page 10 of the financial statements shows the Company's financial position at the year end. Net assets have increased in the year from £4,635,968 in 2024 to £7,224,652. This is primarily due to an increase in recharging across the group resulting in a large intercompany debtor balance at year end.
The Company is subject to various risks and uncertainties during the ordinary course of its business many of which result from factors outside of its control. The Company's risk management framework provides reasonable (but cannot provide absolute assurance) that significant risks are identified and addressed. An active risk management process identifies, assesses, mitigates and reports on strategic, financial, operational and compliance risk.
The principal themes of risk for the Company are: • Strategic: changes in economic and market conditions such as contract pricing and competition. • Financial: significant failures in internal systems of control and lack of corporate stability. • Operational: including recruitment and retention of staff, maintenance of reputation and strong supplier and customer relationships, operational IT risk, and failures in information security controls. • Compliance: non-compliance with laws and regulations. The Company must comply with an extensive range of requirements that govern its business. To mitigate the effect of these risks and uncertainties, the Company adopts a number of systems and procedures, including: • Regularly reviewing trading conditions to be able to respond quickly to changes in market conditions. • Applying procedures and controls to manage compliance, financial and operational risks, including adhering to an internal control framework.
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EQUITA LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Key financial performance indicators used by the company are profit after tax and operating margins.
KPI 2025 2024 Profit after tax (£) £2,588,684 £174,246 Operating Margin (%) 18.8 0.9
This report was approved by the board on 24 July 2026 and signed on its behalf.
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EQUITA LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The profit for the year, after taxation, amounted to £2,588,684 (2024 - £174,246).
No dividends were paid in the year (2024 - nil). The directors propose no dividends for the year ending 31 December 2025.
The directors who served during the year were:
The company has continued to invest in research and development activities, proportionate to the size and nature of its operations, to support the future development of the Group.
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EQUITA LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
During the year and up to the date of approval of the financial statements, the Company maintained qualifying third-party indemnity provisions for the benefit of its Directors, as permitted by the Companies Act 2006. These provisions were in force throughout the financial year and remain in place at the date of this report.
In March 2026, following the year end, the Company (as part of the wider ColX Group) completed the disposal of an office property that had been previously vacated and was no longer required for operational purposes.
At the balance sheet date, the property was being actively marketed and has therefore been classified as an asset held for sale in the financial statements. The disposal is treated as a non-adjusting post balance sheet event under FRS 101. Accordingly, no adjustment for the disposal has been made to the results for the year ended 31 December 2025. The financial impact of the disposal will be recognised in the year ending 31 December 2026.
The auditors, Langtons Professional Services Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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EQUITA LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EQUITA LIMITED
We have audited the financial statements of Equita Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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EQUITA LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EQUITA LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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EQUITA LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EQUITA LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud The objectives of our audit, in respect to fraud, are: • to identify and assess the risks of material misstatement of the financial statements due to fraud; • to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and • to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. Our approach was as follows: We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS 101 and the Companies Act 2006), the relevant tax compliance regulations in the UK and the EU General Data Protection Regulation (GDPR). We understood how the Company is complying with those frameworks by making enquiries of management. Through consideration of the results of our audit procedures we were able to either corroborate or provide contrary evidence which was then followed up. Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Our procedures involved: • enquiries of management; and • journal entry testing, with a focus on journals indicating large or unusual transactions based on our understanding of the business. We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where it considered there was susceptibility to fraud. We also considered performance targets and their propensity to influence efforts made by management to manage revenue and earnings. Where the risk was considered to be higher, including areas impacting key performance indicators or management remuneration, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included those on revenue recognition detailed above, the assessment of items identified by management as non-recurring and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from material fraud or error.
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EQUITA LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EQUITA LIMITED (CONTINUED)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
The Plaza
100 Old Hall Street
United Kingdom
L3 9QJ
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EQUITA LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
REGISTERED NUMBER: 03168371
BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 29 form part of these financial statements.
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EQUITA LIMITED
REGISTERED NUMBER: 03168371
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
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EQUITA LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Equita Limited is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (No. 03168371). The registered office address is 6 Europa Boulevard, Birkenhead, Wirral, CH41 4PE.
These financial statements present the results of Equita Limited as an individual entity. It is a subsidiary of Colx Limited. The principal activity of the company is the provision of debt collection and resolution services.
2.Accounting policies
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements are rounded to the nearest pound.
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions under FRS 101:
∙the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations
∙the requirements of IFRS 7 Financial Instruments: Disclosures
∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
∙the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraph 118(e) of IAS 38 Intangible Assets;
∙the requirements of IAS 7 Statement of Cash Flows
∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
∙the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.
This information is included in the consolidated financial statements of Colx Limited as at 31st December 2025 and these financial statements may be obtained from Companies House, Cardiff, CF14 3UZ..
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
In determining the appropriate basis of preparation for the annual report and financial statements for the period ended 31 December 2025, the Company's Directors ("the Directors") are required to consider whether the Company can continue in operational existence for the foreseeable future, being a period of at least 12 months following the approval of these financial statements.
Board assessment Accounting standards require that 'the foreseeable future' for going concern assessment covers a period of at least twelve months from the date of approval of these financial statements, although those standards do not specify how far beyond twelve months the Directors should consider. In its going concern assessment, the Directors have considered the period from the date of approval of these financial statements to 30 September 2027 ('the going concern period'). The financial forecasts used for the going concern assessment are derived from financial projections for 2026 which run to September 2027 for the Company which have been subject to review and challenge by management and Directors. The Directors have approved the projections. The Directors have taken into account any uncertainties in revenue, known increases in cost bases and applied these to the forecasts prepared. The forecasts prepared by the Directors show that the Company has the ability to continue to operate with the funding facilities available to it for a period of at least 12 months from signing of these financial statements. The Directors therefore consider it appropriate for the financial statements to be prepared on a going concern basis.
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Revenue is earned within the United Kingdom and is recognised when the performance obligation in
the contract has been performed. Transactional (Point in time) contracts The Company delivers specialist debt recovery and enforcement services that are transactional services for which revenue is recognised at the point in time when either a debt is recovered and remitted to the customer or the enforcement services are delivered
The Company has elected not to recognise right of use assets and lease liabilities for leases of low
value assets and short term leases. The Company recognises the lease payments associated with these leases as an expense at the balance sheet date.
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued. When a business combination agreement provides for an adjustment to the cost of the combination which is contingent on future events, the company includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably. However, if the potential adjustment is not recognised at the acquisition date but subsequently becomes probable and can be measured reliably, the additional consideration shall be treated as an adjustment to the cost of the combination. Changes in the estimated value of contingent consideration arising on business combinations completed as a consequence result in a change in the carrying value of the related goodwill. Goodwill is capitalised as an intangible asset and is not amortised. Instead it is reviewed annually for impairment with any impairment in carrying value being charged to profit or loss. The Companies Act 2006 requires acquired goodwill to be reduced by provisions for depreciation calculated to write off the amount systematically over a period chosen by the directors, not exceeding its useful economic life. It has been deemed, however, the non-amortisation of goodwill is a departure, for the overriding purpose of giving a true and fair view. The effect of this departure has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.
Depreciation is provided on the following basis:
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.
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Assets are classified as held for sale where their carrying amount will be recovered principally through sale rather than through continuing use.
This condition is regarded as met when the asset is available for immediate sale in its present condition and the sale is highly probable. Assets classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell and are not depreciated.
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.
In accordance with the rules established by the Financial Conduct Authority the company holds all
client funds in segregated statutory trust client bank accounts. These client bank accounts comprise of cash collected on behalf of clients and the Company does not have any rights over these balances.
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
There are no critical judgements or key sources of estimation uncertainty.
The whole of the turnover is attributable to the provision of specialised financial and business services.
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Capital redemption reserve
Profit and loss account
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a defined contributions pension scheme.
The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £118,191 (2024 - £157,166). Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors. The asset had been actively marketed for sale prior to the year end and was classified as held for sale in the balance sheet at 31 December 2025. The disposal represents a non-adjusting post balance sheet event under FRS 101 and, accordingly, no adjustment has been made to the carrying value of the asset at the reporting date. A gain will be recognised in the financial statements for the year ending 31 December 2026 on completion of the disposal.
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EQUITA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ColX Limited is regarded by the directors as being the company's ultimate parent company.
Copies of accounts of ColX Limited may be obtained from Companies House, Cardiff, CF14 3UZ. The Directors consider there to be no single ultimate controlling party.
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