Equate Group Limited - Period Ending 2015-12-31

Registration number: 06004865

Equate Group Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Equate Group Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Equate Group Limited
(Registration number: 06004865)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					61,713			43,827
Current assets
Stocks					15,000			19,476
Debtors					54,188			62,793
Cash at bank and in hand					400,351			314,514
					469,539			396,783
Creditors: Amounts falling due within one year					(345,146)			(273,705)
Net current assets					124,393			123,078
Net assets					186,106			166,905
Capital and reserves
Called up share capital		3			500			500
Profit and loss account					185,606			166,405
Shareholders' funds					186,106			166,905

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 23 March 2016 and signed on its behalf by:

.........................................
A A C Davis
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Equate Group Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of telecommunications services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% Straight line
Motor vehicles	25% Straight line

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Equate Group Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		120,139			120,139
Additions		55,201			55,201
At 31 December 2015		175,340			175,340
Depreciation
At 1 January 2015		76,312			76,312
Charge for the year		37,315			37,315
At 31 December 2015		113,627			113,627
Net book value
At 31 December 2015		61,713			61,713
At 31 December 2014		43,827			43,827

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		500			500			500			500

4

Control

The company is controlled by is not controlled by one single party as Q R and A A C Davis both own 50% of the share capital of the company.

Page 3