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REGISTERED NUMBER: 07823906 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2023

for

NC Squared Limited

NC Squared Limited (Registered number: 07823906)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


NC Squared Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: N Criscuolo
N Crawford
A Knight





REGISTERED OFFICE: 1 Stanyards Courtyard
Stanyards Farm
Chertsey Road
Chobham
Surrey
GU24 8JE





REGISTERED NUMBER: 07823906 (England and Wales)





ACCOUNTANTS: Ahmad York Limited
Chartered Certified Accountants
1 Stanyards Courtyard
Stanyards Farm
Chertsey Road
Chobham
Surrey
GU24 8JE

NC Squared Limited (Registered number: 07823906)

Abridged Statement of Financial Position
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,126 14,624
Investments 5 757 757
12,883 15,381

CURRENT ASSETS
Debtors 705,190 852,503
Cash at bank 3,822,660 3,079,296
4,527,850 3,931,799
CREDITORS
Amounts falling due within one year 2,881,369 2,568,102
NET CURRENT ASSETS 1,646,481 1,363,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,659,364

1,379,078

CREDITORS
Amounts falling due after more than one
year

(7,974

)

(15,012

)

PROVISIONS FOR LIABILITIES (2,017 ) (2,779 )
NET ASSETS 1,649,373 1,361,287

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 1,649,271 1,361,185
SHAREHOLDERS' FUNDS 1,649,373 1,361,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NC Squared Limited (Registered number: 07823906)

Abridged Statement of Financial Position - continued
30 April 2023


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





A Knight - Director


NC Squared Limited (Registered number: 07823906)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

NC Squared Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instrument transactions in accordance with Section 11. Financial assets and liabilities are measured at cost and financial assets are assessed at the end of each reporting period for objective evidence of impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

NC Squared Limited (Registered number: 07823906)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Contributions to employee ownership trust
The shares in the company are owned by NC Squared Employee Ownership Trust (The EOT). Contributions to the EOT are recognised as a movement in Reserves and not as an expense within the Income Statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022 33,254
Additions 1,612
Disposals (1,488 )
At 30 April 2023 33,378
DEPRECIATION
At 1 May 2022 18,630
Charge for year 3,727
Eliminated on disposal (1,105 )
At 30 April 2023 21,252
NET BOOK VALUE
At 30 April 2023 12,126
At 30 April 2022 14,624

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 May 2022
and 30 April 2023 757
NET BOOK VALUE
At 30 April 2023 757
At 30 April 2022 757

NC Squared Limited (Registered number: 07823906)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. SECURED DEBTS

Clydesdale Bank plc hold a first fixed charge over the cash deposit of £1,500,000 in respect of all present and future obligations and liabilities.

7. COMMITMENTS, GUARANTEES AND CONTINGENCIES

At the year end the company has commitments, guarantees and contingencies totalling £487 (2022: £487).

8. ULTIMATE CONTROLLING PARTY

The entire issued share capital of the company is owned by NC Squared Employee Ownership Trust (The EOT). These shares are held by NC Squared Trustee Limited (a company incorporated in England) as nominee. The EOT holds the shares on behalf of all the employees of the company, no individual employee is allotted shares. The EOT is therefore the majority shareholder in the company.

9. STATEMENT OF CHANGES IN EQUITY


Share
capital
Retained
earnings
£ £
Balance at 1 May 2021 100 888,832

Profit for the year 1,359,353
Contribution to Employee Ownership Trust (887,000 )
Share issue 2
Balance at 30 April 2022 102 1,361,185

Balance at 1 May 2022 102 1,361,185

Profit for the year 1,540,586
Contribution to Employee Ownership Trust (1,252,500 )

Balance at 30 April 2023 102 1,649,271