| EQW LTD |
| Notes to the Accounts |
| for the year ended 30 November 2025 |
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|
| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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 rendering of services which 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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, and buildings held for investment purposes, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Office & Computer equipment |
over 3 years |
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Investment Property |
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Investment properties are properties (land or buildings or both) held to earn rentals or for capital appreciation or both, rather than for use in the production or supply of goods or services or for administrative purposes, or sale in the ordinary course of business.
Investment properties are initially measured at cost, including transaction costs. Subsequently, they are measured at fair value at each reporting date, with changes in fair value recognised in profit or loss.Fair value is determined based on market evidence, including recent prices for similar properties in the same location and condition. Where market evidence is not available, fair value is estimated using appropriate valuation techniques.
No depreciation is charged on investment properties measured at fair value. Gains or losses arising from changes in fair value are included in the profit and loss account in the period in which they arise.Deferred tax is recognised on the difference between the carrying amount of the investment property and its tax base, using the tax rate expected to apply when the timing difference reverses. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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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. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
8 |
|
9 |
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| 3 |
Tangible fixed assets |
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Land and buildings - Investment Property |
|
Office and Computer Equipment |
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Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 December 2024 |
550,000 |
|
4,873 |
|
554,873 |
|
Additions |
- |
|
7,419 |
|
7,419 |
|
At 30 November 2025 |
550,000 |
|
12,292 |
|
562,292 |
|
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Depreciation |
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At 1 December 2024 |
- |
|
3,001 |
|
3,001 |
|
Charge for the year |
- |
|
2,194 |
|
2,194 |
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At 30 November 2025 |
- |
|
5,195 |
|
5,195 |
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Net book value |
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At 30 November 2025 |
550,000 |
|
7,097 |
|
557,097 |
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At 30 November 2024 |
550,000 |
|
1,872 |
|
551,872 |
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Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
577,349 |
|
577,349 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
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|
577,349 |
|
577,349 |
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The directors have reviewed the fair value of the investment properties as at 30/11/2025 and, having considered current market conditions and comparable local sales evidence, are satisfied that the valuation obtained on 30/11/2024 continues to represent a reasonable estimate of fair value at the balance sheet date. |
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| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
- |
|
7,200 |
|
Deferred tax asset |
|
|
|
|
6,837 |
|
6,837 |
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Other debtors |
315,945 |
|
457,164 |
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|
322,782 |
|
471,201 |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
23,692 |
|
19,919 |
|
Taxation and social security costs |
15,328 |
|
179,855 |
|
Other creditors |
7,979 |
|
5,487 |
|
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|
46,999 |
|
205,261 |
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| 6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Ms Kelly Atkinson |
|
Loan 1 |
61,426 |
|
1,523 |
|
(61,792) |
|
1,157 |
|
|
Mr Michael Connard (deceased 05.02.2025) |
|
Loan 1 |
62,454 |
|
257 |
|
- |
|
62,711 |
|
|
|
123,880 |
|
1,780 |
|
(61,792) |
|
63,868 |
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| 7 |
Other information |
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EQW LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Coppergate House |
|
10 Whites Row |
|
London |
|
Greater London |
|
E1 7NF |