Equasys IT Solutions Ltd - Filleted accounts

Equasys IT Solutions Ltd - Filleted accounts

EQUASYS IT SOLUTIONS LTD - Company Information

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Registered number
08842670
Equasys IT Solutions Ltd
Unaudited Filleted Accounts
31 January 2023
Equasys IT Solutions Ltd
Registered number: 08842670
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 278 371
Current assets
Debtors 4 109,168 90,731
Cash at bank and in hand 903,823 804,037
1,012,991 894,768
Creditors: amounts falling due within one year 5 (85,968) (77,690)
Net current assets 927,023 817,078
Net assets 927,301 817,449
Capital and reserves
Called up share capital 10 3
Profit and loss account 927,291 817,446
Shareholders' funds 927,301 817,449
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Andrew Burgess
Director
Approved by the board on 27 February 2023
Equasys IT Solutions Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% per annum (straight line basis)
Office equipment 25% per annum (reducing balance basis)
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Computer equipment Office equipment Total
£ £ £
Cost
At 1 February 2022 4,693 6,358 11,051
At 31 January 2023 4,693 6,358 11,051
Depreciation
At 1 February 2022 4,693 5,987 10,680
Charge for the year - 93 93
At 31 January 2023 4,693 6,080 10,773
Net book value
At 31 January 2023 - 278 278
At 31 January 2022 - 371 371
4 Debtors 2023 2022
£ £
Trade debtors 62,278 88,648
Director's loan account 44,385 -
Other debtors 2,505 2,083
109,168 90,731
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 13,079 11,057
Director's loan account - 6,870
Taxation and social security costs 71,539 59,213
Other creditors 1,350 550
85,968 77,690
6 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 16,010 -
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Andrew Burgess
Director's Loan - 50,000 - 50,000
- 50,000 - 50,000
The loan was made in November 2022 and interest is payable at the HMRC Official Rate of 2.0% per annum. The loan is due to be repaid in full within nine months of the balance sheet date.
8 Other information
Equasys IT Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
844 Birchwood Boulevard
Birchwood
Warrington
WA3 7QZ
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