Equity Alliance Limited - Accounts

EQUITY ALLIANCE LTD. - Company Information

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Registered Number: 08440154

England and Wales

EQUITY ALLIANCE LIMITED

Abridged Accounts

Period of accounts

Start date: 01 April 2019

End date: 31 March 2020

Equity Alliance Limited
Contents Page
For the year ended 31 March 2020

Statement of financial position
Notes to the financial statements

Registered Number: 08440154 Equity Alliance Limited
Statement of Financial Position
As at 31 March 2020

	Notes	2020 £	2019 £
Current assets
Debtors: amounts falling due within one year		1	1
Cash at bank and in hand		10,004	176
		10,005	177
Creditors: amount falling due within one year		(8,684)	(1,049)
Net current assets		1,321	(872)

Total assets less current liabilities		1,321	(872)
Net assets		1,321	(872)

Capital and reserves
Called up share capital	3	1	1
Profit and loss account		1,320	(873)
Shareholders funds		1,321	(872)

For the year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts 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 accounts

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the director on 01 September 2020 and were signed by:

--------------------------------
Amandeep Singh Bansal
Director

Equity Alliance Limited
Notes to the Abridged Financial Statements
For the year ended 31 March 2020

General Information

Equity Alliance Limited is a private company, limited by shares, registered in England and Wales, registration number 08440154, registration address 7 Kenmore Crescent, Hayes, Middlesex, UB4 8NU

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Revenue is recognised when the invoices have been raised.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Research and development expenditure

Research and development expenditure is charged to the income statement in the period in which it is incurred.

Preference dividends

Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

3 years Straight Line

Tangible fixed assets

Cost or valuation	Computer Equipment	Total
	£	£
At 01 April 2019	550	550
Additions	-	-
Disposals	-	-
At 31 March 2020	550	550
Depreciation
At 01 April 2019	550	550
Charge for year	-	-
On disposals	-	-
At 31 March 2020	550	550
Net book values
Closing balance as at 31 March 2020	-	-
Opening balance as at 01 April 2019	-	-

Share Capital

Authorised
1 Class A shares of £1.00 each

Allotted	2020 £		2019 £
1 Class A shares of £1.00 each	1		1
	1		1

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value				Balance owed by/(owed to)
	2020 £		2019 £		2020 £		2019 £
Amandeep Singh	-		-		(6,985)		(349)