Equals Consulting Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06960814 (England and Wales)

Financial Statements for the Year Ended 30 September 2019

for

EQUALS CONSULTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M P Martin

A P Wilson

C Blowers

D L Patterson

S J Birchall

REGISTERED OFFICE:

3rd Floor

126-134 Baker Street

London

W1U 6UE

REGISTERED NUMBER:

06960814 (England and Wales)

AUDITORS:

Butler & Co LLP

Chartered Accountants

& Statutory Auditor

Third Floor

126-134 Baker Street

London

W1U 6UE

BANKERS:

HSBC Bank PLC

79 Piccadilly

London

W1J 8EU

FIXED ASSETS

Tangible assets

4

125,333

148,368

CURRENT ASSETS

Work-in-progress

5

434,117

186,704

Debtors

6

1,645,147

1,284,811

Cash at bank and in hand

900,139

1,200,754

2,979,403

2,672,269

CREDITORS

Amounts falling due within one year

7

1,759,396

1,558,089

NET CURRENT ASSETS

1,220,007

1,114,180

TOTAL ASSETS LESS CURRENT LIABILITIES

1,345,340

1,262,548

PROVISIONS FOR LIABILITIES

9

36,673

26,382

NET ASSETS

1,308,667

1,236,166

CAPITAL AND RESERVES

Called up share capital

10

112,500

112,500

Share premium

11

51,505

51,505

Capital redemption reserve

11

125,000

125,000

Retained earnings

11

1,019,662

947,161

SHAREHOLDERS' FUNDS

1,308,667

1,236,166

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

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

The financial statements were authorised for issue by the Board of Directors on 24 February 2020 and were signed on its behalf by:

M P Martin - Director

1.	STATUTORY INFORMATION

Equals Consulting Limited 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.

Going concern

The financial statements have been prepared on a going concern basis on the assumption that the company will

continue to trade in the foreseeable future. Directors, having made appropriate enquiries, consider that adequate

resources exist for the company to continue in operational existence for the foreseeable future; and with the

continued support of the company's shareholders, the company will be able to meet its liabilities as they fall due

for payment. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in

preparing the financial statements for the year ended 30 September 2019.

Key sources of estimation uncertainty and judgements

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as

the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues

and expenses during the reported period.

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts. Revenue is recognised in

the period in which the service is provided.

Tangible fixed assets

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

Furniture Fixtures & Equipment

-

25% on cost

Work in progress

Long term contracts are stated at net cost less foreseeable losses less any applicable payments on account. The

amount recorded as turnover in respect of long term contracts is ascertained by reference to the value of the work

carried out to date. Attributable profit is recognised as the difference between recorded turnover and related

costs.

Financial instruments policy

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to

the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price.Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance

of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.

An equity instrument is any contract that evidences a residual interest in assets of the company after deducting all

of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct

issue costs.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2018 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Furniture

Short

Fixtures

leasehold

& Equipment

Totals

£

£

£

COST

At 1 October 2018

10,407

177,915

188,322

Additions

4,648

17,650

22,298

At 30 September 2019

15,055

195,565

210,620

DEPRECIATION

At 1 October 2018

890

39,064

39,954

Charge for year

3,107

42,226

45,333

At 30 September 2019

3,997

81,290

85,287

NET BOOK VALUE

At 30 September 2019

11,058

114,275

125,333

At 30 September 2018

9,517

138,851

148,368

5.	WORK-IN-PROGRESS

2019

2018

£

£

Work-in-progress

434,117

186,704

6.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

1,449,337

1,135,668

Other debtors

18,430

14,950

Prepayments and accrued income

89,545

46,358

1,557,312

1,196,976

Amounts falling due after more than one year:

Other debtors

87,835

87,835

Aggregate amounts

1,645,147

1,284,811

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Payments on account

414,983

471,248

Trade creditors

222,754

29,367

Tax

66,737

43,861

Social security and other taxes

131,307

120,386

VAT

259,430

213,690

Other creditors

26,493

-

Accrued expenses

637,692

679,537

1,759,396

1,558,089

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

167,205

167,205

Between one and five years

320,477

487,683

487,682

654,888

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

Accelerated capital allowances

21,713

26,382

Other provisions

14,960

-

36,673

26,382

Deferred

tax

£

Balance at 1 October 2018

26,382

Credit to Income Statement during year

(4,669

)

Deferred tax

Balance at 30 September 2019

21,713

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

2019

2018

£

£

76,398

A Ordinary

£1

76,398

76,398

36,102

B Ordinary

£1

36,102

36,102

112,500

112,500

The A Ordinary shares and the B Ordinary shares rank pari passu in all respects except for the B ordinary shares

carry no voting rights.

11.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 October 2018

947,161

51,505

125,000

1,123,666

Profit for the year

218,751

218,751

Dividends

(146,250

)

(146,250

)

At 30 September 2019

1,019,662

51,505

125,000

1,196,167

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rajesh Patel (Senior Statutory Auditor)

for and on behalf of Butler & Co LLP

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company paid dividends of £146,250 (2018: £129,375) to the Shareholders of the company.

Included in other debtors is a loan of £10,400 (2018: £10,000) to Caroline Blowers, a director of the company.

Interest is charged at the rate of 4% per annum on the loan.