0 false false false false false false false false false true false false false false false false No description of principal activity 2021-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04724594 2021-05-01 2022-04-30 04724594 2022-04-30 04724594 2021-04-30 04724594 2021-04-30 04724594 core:MotorVehicles 2021-05-01 2022-04-30 04724594 bus:Director1 2021-05-01 2022-04-30 04724594 core:WithinOneYear 2022-04-30 04724594 core:WithinOneYear 2021-04-30 04724594 core:MotorVehicles 2021-04-30 04724594 core:MotorVehicles 2022-04-30 04724594 core:ShareCapital 2022-04-30 04724594 core:ShareCapital 2021-04-30 04724594 core:RetainedEarningsAccumulatedLosses 2022-04-30 04724594 core:RetainedEarningsAccumulatedLosses 2021-04-30 04724594 core:MotorVehicles 2021-04-30 04724594 bus:Director1 2021-04-30 04724594 bus:Director1 2022-04-30 04724594 bus:Director1 2020-04-30 04724594 bus:Director1 2021-04-30 04724594 bus:Director1 2020-05-01 2021-04-30 04724594 bus:SmallEntities 2021-05-01 2022-04-30 04724594 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 04724594 bus:FullAccounts 2021-05-01 2022-04-30 04724594 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 04724594 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 04724594 core:OfficeEquipment 2021-05-01 2022-04-30 04724594 core:OfficeEquipment 2021-04-30
COMPANY REGISTRATION NUMBER: 04724594
SQUAREWHEELS ON LOCATION LIMITED
Filleted Unaudited Financial Statements
30 April 2022
SQUAREWHEELS ON LOCATION LIMITED
Statement of Financial Position
30 April 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
4
6,117
40,724
Current assets
Debtors
5
92
2,546
Creditors: amounts falling due within one year
6
144,012
138,579
---------
---------
Net current liabilities
143,920
136,033
---------
---------
Total assets less current liabilities
( 137,803)
( 95,309)
---------
--------
Net liabilities
( 137,803)
( 95,309)
---------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 137,805)
( 95,311)
---------
--------
Shareholder deficit
( 137,803)
( 95,309)
---------
--------
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 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has 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 26 August 2022 , and are signed on behalf of the board by:
I M Silverstein
Director
Company registration number: 04724594
SQUAREWHEELS ON LOCATION LIMITED
Notes to the Financial Statements
Year ended 30 April 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 55a Vandyke Close, Woburn Sands, Milton Keynes, MK17 8UU.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Motor Vehicles
-
15% reducing balance
Office equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 May 2021
239,319
32,933
272,252
Disposals
( 223,099)
( 32,933)
( 256,032)
---------
--------
---------
At 30 April 2022
16,220
16,220
---------
--------
---------
Depreciation
At 1 May 2021
202,142
29,386
231,528
Charge for the year
1,080
1,080
Disposals
( 193,119)
( 29,386)
( 222,505)
---------
--------
---------
At 30 April 2022
10,103
10,103
---------
--------
---------
Carrying amount
At 30 April 2022
6,117
6,117
---------
--------
---------
At 30 April 2021
37,177
3,547
40,724
---------
--------
---------
5. Debtors
2022
2021
£
£
Trade debtors
2,546
Other debtors
92
----
-------
92
2,546
----
-------
6. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
32,208
16,864
Accruals and deferred income
1,513
1,513
Social security and other taxes
209
Director loan accounts
110,291
119,993
---------
---------
144,012
138,579
---------
---------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
I M Silverstein
( 119,993)
9,702
( 110,291)
---------
-------
----
---------
2021
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
I M Silverstein
( 108,345)
( 11,648)
( 119,993)
---------
----
--------
---------