Company registration number 02738707 (England and Wales)
SQUIRE INTERNATIONAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
SQUIRE INTERNATIONAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SQUIRE INTERNATIONAL LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
28,619
13,565
Current assets
Stocks
8,775
10,500
Debtors
5
2,398
3,841
Cash at bank and in hand
57,147
75,363
68,320
89,704
Creditors: amounts falling due within one year
6
(11,198)
(12,489)
Net current assets
57,122
77,215
Total assets less current liabilities
85,741
90,780
Creditors: amounts falling due after more than one year
7
(28,383)
(39,681)
Net assets
57,358
51,099
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
57,258
50,999
Total equity
57,358
51,099

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 24 October 2023
Bijal Shah
Director
Company registration number 02738707 (England and Wales)
SQUIRE INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

Squire International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 129 Powys Lane, London, N13 4HL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Over the term of the lease
Fixtures, fittings & equipment
20% Reducing balance
Motor vehicles
20% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SQUIRE INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SQUIRE INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
2
2
4
Tangible fixed assets
Land and buildings Leasehold
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2022
27,822
25,403
-
0
53,225
Additions
-
0
-
0
20,400
20,400
At 31 December 2022
27,822
25,403
20,400
73,625
Depreciation and impairment
At 1 January 2022
15,975
23,685
-
0
39,660
Depreciation charged in the year
2,282
344
2,720
5,346
At 31 December 2022
18,257
24,029
2,720
45,006
Carrying amount
At 31 December 2022
9,565
1,374
17,680
28,619
At 31 December 2021
11,847
1,718
-
0
13,565
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
1,563
2,779
Other debtors
835
1,062
2,398
3,841
SQUIRE INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
5,192
-
0
Trade creditors
4,387
3,864
Taxation and social security
-
0
730
Other creditors
1,619
7,895
11,198
12,489
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
28,383
39,681
8
Called up share capital
2022
2021
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
9
Directors' transactions

At the balance sheet date, the amount due to the director was £244 (2021: £3,669). This amount is unsecured, interest free and repayable on demand.

10
Control

The Director, Mr Bijal Shah, is the ultimate controlling party by virtue of his 99% of the shareholding.

2022-12-312022-01-01false24 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityB ShahMrs Deepa  Shah027387072022-01-012022-12-31027387072022-12-31027387072021-12-3102738707core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-12-3102738707core:FurnitureFittings2022-12-3102738707core:MotorVehicles2022-12-3102738707core:LandBuildingscore:LeasedAssetsHeldAsLessee2021-12-3102738707core:FurnitureFittings2021-12-3102738707core:MotorVehicles2021-12-3102738707core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3102738707core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3102738707core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3102738707core:Non-currentFinancialInstrumentscore:AfterOneYear2021-12-3102738707core:CurrentFinancialInstruments2022-12-3102738707core:CurrentFinancialInstruments2021-12-3102738707core:ShareCapital2022-12-3102738707core:ShareCapital2021-12-3102738707core:RetainedEarningsAccumulatedLosses2022-12-3102738707core:RetainedEarningsAccumulatedLosses2021-12-3102738707bus:Director12022-01-012022-12-3102738707core:LandBuildingscore:LongLeaseholdAssets2022-01-012022-12-3102738707core:FurnitureFittings2022-01-012022-12-3102738707core:MotorVehicles2022-01-012022-12-31027387072021-01-012021-12-3102738707core:LandBuildingscore:LeasedAssetsHeldAsLessee2021-12-3102738707core:FurnitureFittings2021-12-3102738707core:MotorVehicles2021-12-31027387072021-12-3102738707core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-01-012022-12-3102738707core:WithinOneYear2022-12-3102738707core:WithinOneYear2021-12-3102738707core:Non-currentFinancialInstruments2022-12-3102738707core:Non-currentFinancialInstruments2021-12-3102738707bus:PrivateLimitedCompanyLtd2022-01-012022-12-3102738707bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3102738707bus:FRS1022022-01-012022-12-3102738707bus:AuditExemptWithAccountantsReport2022-01-012022-12-3102738707bus:CompanySecretary12022-01-012022-12-3102738707bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP