Equas Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05954592 (England and Wales)

EQUAS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D G Morgan

J D Russell

SECRETARY:

D G Morgan

REGISTERED OFFICE:

17 Wallwern Wood

Chepstow

Gwent

NP16 5TX

REGISTERED NUMBER:

05954592 (England and Wales)

ACCOUNTANTS:

DSC

Chartered Accountants

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

BANKERS:

Lloyds Bank Plc

8/11 Cambridge Crescent

Harrogate

North Yorkshire

HG1 1PQ

FIXED ASSETS

Intangible assets

4

466,429

428,113

Tangible assets

5

10,187

2,777

476,616

430,890

CURRENT ASSETS

Debtors

279,119

347,484

Cash at bank

100,624

56,423

379,743

403,907

CREDITORS

Amounts falling due within one year

235,798

321,024

NET CURRENT ASSETS

143,945

82,883

TOTAL ASSETS LESS CURRENT LIABILITIES

620,561

513,773

CAPITAL AND RESERVES

Called up share capital

6

280

280

Retained earnings

620,281

513,493

SHAREHOLDERS' FUNDS

620,561

513,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 August 2019 and were signed on its behalf by:

D G Morgan - Director

J D Russell - Director

1.	STATUTORY INFORMATION

Equas Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intellectual property

Purchased intellectual property is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Grants receivable

Revenue based grants receivable are recognised in the profit and loss account in the same period as the

expenditure to which the grant relates.

Capital based grants receivable are deducted from the purchase price or production cost of the related asset with

a resultant reduction in the annual depreciation charge.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2018 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

605,618

Additions

68,870

At 31 March 2019

674,488

AMORTISATION

At 1 April 2018

177,505

Amortisation for year

30,554

At 31 March 2019

208,059

NET BOOK VALUE

At 31 March 2019

466,429

At 31 March 2018

428,113

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

9,317

Additions

12,086

At 31 March 2019

21,403

DEPRECIATION

At 1 April 2018

6,540

Charge for year

4,676

At 31 March 2019

11,216

NET BOOK VALUE

At 31 March 2019

10,187

At 31 March 2018

2,777

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

188

Ordinary A

£1

188

206

(2018 - 206 )

8

Ordinary B

£1

8

8

84

Ordinary C

£1

84

66

280

280

On 1 April 2018, 18 ordinary A shares were reclassified into 18 ordinary C shares.

7.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party in the company.