Equalcite Limited Filleted accounts for Companies House (small and micro)

0 false false false false false false false false false true false false false false false false No description of principal activity 2020-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03386758 2020-10-01 2021-09-30 03386758 2021-09-30 03386758 2020-09-30 03386758 bus:LeadAgentIfApplicable 2020-10-01 2021-09-30 03386758 bus:Director1 2020-10-01 2021-09-30 03386758 core:WithinOneYear 2021-09-30 03386758 core:WithinOneYear 2020-09-30 03386758 core:ShareCapital 2021-09-30 03386758 core:ShareCapital 2020-09-30 03386758 core:RetainedEarningsAccumulatedLosses 2021-09-30 03386758 core:RetainedEarningsAccumulatedLosses 2020-09-30 03386758 bus:SmallEntities 2020-10-01 2021-09-30 03386758 bus:AuditExemptWithAccountantsReport 2020-10-01 2021-09-30 03386758 bus:FullAccounts 2020-10-01 2021-09-30 03386758 bus:SmallCompaniesRegimeForAccounts 2020-10-01 2021-09-30 03386758 bus:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 03386758 core:PlantMachinery 2020-10-01 2021-09-30

COMPANY REGISTRATION NUMBER: 03386758

Equalcite Limited

Filleted Unaudited Financial Statements

30 September 2021

Equalcite Limited

Financial Statements

Year ended 30 September 2021

Contents	Pages

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 5

Equalcite Limited

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Equalcite Limited

Year ended 30 September 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Equalcite Limited for the year ended 30 September 2021, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Equalcite Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Equalcite Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Equalcite Limited and its director for our work or for this report.

It is your duty to ensure that Equalcite Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Equalcite Limited. You consider that Equalcite Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Equalcite Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered Accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

20 May 2022

Equalcite Limited

Statement of Financial Position

30 September 2021

	2021	2020
Note	£	£

Current assets

Cash at bank and in hand	2,947	2,960

Creditors: amounts falling due within one year	4	5,940	6,640
		-------	-------
Net current liabilities		2,993	3,680
		-------	-------
Total assets less current liabilities		( 2,993)	( 3,680)
		-------	-------
Net liabilities		( 2,993)	( 3,680)
		-------	-------

Equalcite Limited

Statement of Financial Position (continued)

30 September 2021

	2021	2020
Note	£	£

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 2,995)	( 3,682)
	-------	-------
Shareholders deficit	( 2,993)	( 3,680)
	-------	-------

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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2021 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 18 May 2022 , and are signed on behalf of the board by:

Mr J Shuttleworth
Director

Company registration number: 03386758

Equalcite Limited

Notes to the Financial Statements

Year ended 30 September 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Abbeydale Hall, Abbeydale Road South, Sheffield, S17 3LJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Going concern

At the balance sheet date the company had net current liabilities. The accounts have been prepared on a going concern basis that assumes the continued support of its creditors.

Revenue recognition

Turnover is measured at the fair value of the consideration received from sports revenues.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	20% reducing balance

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4. Creditors: amounts falling due within one year

	2021	2020
	£	£
Other creditors	5,940	6,640
	-------	-------