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

REGISTERED NUMBER: 06960814 (England and Wales)

Financial Statements for the Year Ended 30 September 2021

for

EQUALS CONSULTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M P Martin

C Blowers

D L Patterson

J Sheppard

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

42,617

79,964

CURRENT ASSETS

Work-in-progress

5

66,549

131,724

Debtors

6

1,012,849

1,109,763

Cash at bank and in hand

1,309,936

1,394,594

2,389,334

2,636,081

CREDITORS

Amounts falling due within one year

7

1,107,244

1,276,007

NET CURRENT ASSETS

1,282,090

1,360,074

TOTAL ASSETS LESS CURRENT LIABILITIES

1,324,707

1,440,038

PROVISIONS FOR LIABILITIES

9

27,591

31,370

NET ASSETS

1,297,116

1,408,668

CAPITAL AND RESERVES

Called up share capital

10

100,338

112,500

Share premium

11

51,505

51,505

Capital redemption reserve

11

137,162

125,000

Retained earnings

11

1,008,111

1,119,663

SHAREHOLDERS' FUNDS

1,297,116

1,408,668

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 and authorised for issue on 15 March 2022 and were signed on its behalf by:

D L Patterson - 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 2021.

Since the financial year end, there are uncertainties relating to the COVID19 pandemic.The directors have analysed how the risk might affect the company financial resources and ability to continue operations and have nothing to report in this respect. No provisions have been made in the financial statements.

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.

Short leasehold

-

25% on cost

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 45 (2020 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Furniture

Short

Fixtures

leasehold

& Equipment

Totals

£

£

£

COST

At 1 October 2020

15,055

196,210

211,265

Additions

-

5,500

5,500

At 30 September 2021

15,055

201,710

216,765

DEPRECIATION

At 1 October 2020

7,984

123,317

131,301

Charge for year

3,987

38,860

42,847

At 30 September 2021

11,971

162,177

174,148

NET BOOK VALUE

At 30 September 2021

3,084

39,533

42,617

At 30 September 2020

7,071

72,893

79,964

5.	WORK-IN-PROGRESS

2021

2020

£

£

Work-in-progress

66,549

131,724

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

725,375

793,957

Other debtors

12,541

13,610

Prepayments and accrued income

189,633

214,361

927,549

1,021,928

Amounts falling due after more than one year:

Other debtors

85,300

87,835

Aggregate amounts

1,012,849

1,109,763

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Payments on account

118,854

41,996

Trade creditors

117,117

36,316

Tax

30,049

37,358

Social security and other taxes

88,016

78,558

VAT

158,097

214,774

Other creditors

36,274

144,509

Accrued expenses

558,837

722,496

1,107,244

1,276,007

8.	LEASING AGREEMENTS

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

2021

2020

£

£

Within one year

165,196

177,708

Between one and five years

-

93,236

165,196

270,944

9.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

Accelerated capital allowances

7,511

13,850

Other provisions

20,080

17,520

27,591

31,370

Deferred

tax

£

Balance at 1 October 2020

13,850

Deferred tax

(6,339

)

Balance at 30 September 2021

7,511

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

2021

2020

£

£

73,648

A Ordinary

£1

73,648

76,398

26,690

B Ordinary

£1

26,690

36,102

100,338

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.

During the financial year, the company purchased its own shares which was financed using the company's distributable reserves.

11.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 October 2020

1,119,663

51,505

125,000

1,296,168

Profit for the year

80,000

80,000

Purchase of own shares

(191,552

)

-

12,162

(179,390

)

At 30 September 2021

1,008,111

51,505

137,162

1,196,778

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

Included in other debtors is a loan of £10,800 (2020: £10,400) to Caroline Blowers, a director of the company. Interest is charged at the rate of 4% per annum on the loan.