ACCOUNTS - Final Accounts preparation

AEQUISSIM LTD - Company Information

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Registered number: 07399640

AEQUISSIM LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2020

AEQUISSIM LTD

REGISTERED NUMBER: 07399640

BALANCE SHEET

AS AT 31 OCTOBER 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	4		232		349
			232		349
Current assets
Debtors: amounts falling due within one year	5	176		-
Cash at bank and in hand		6,256		3,886
		6,432		3,886
Creditors: amounts falling due within one year	6	(34,935)		(36,163)
Net current liabilities			(28,503)		(32,277)
Total assets less current liabilities			(28,271)		(31,928)

Net liabilities			(28,271)		(31,928)

Capital and reserves
Called up share capital	300	300
Profit and loss account	(28,571)	(32,228)
	(28,271)	(31,928)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 June 2021.

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AEQUISSIM LTD

REGISTERED NUMBER: 07399640

BALANCE SHEET (CONTINUED)

AS AT 31 OCTOBER 2020

D.A. Hicks

Director

The notes on pages 3 to 5 form part of these financial statements.

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AEQUISSIM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

1.	General information

The entity is a limited company registered in England & Wales.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company has an excess of liabilities over assets and is reliant on the continued financial support of the directors. As a result, the going concern basis of accounting has been used.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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AEQUISSIM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 1).

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AEQUISSIM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 November 2019	1,473
	At 31 October 2020	1,473
	Depreciation
	At 1 November 2019	1,124
	Charge for the year on owned assets	117
	At 31 October 2020	1,241
	Net book value
	At 31 October 2020	232
	At 31 October 2019	349

Debtors

					2020	2019
					£	£


Other debtors	176	-
	176	-

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Other taxation and social security	-	174
Other creditors	9,589	9,589
Accruals and deferred income	25,346	26,400
	34,935	36,163

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