Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-311No description of principal activityfalse2022-02-18falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13926260 2022-02-17 13926260 2022-02-18 2022-12-31 13926260 2021-02-18 2022-02-17 13926260 2022-12-31 13926260 c:Director1 2022-02-18 2022-12-31 13926260 d:CurrentFinancialInstruments 2022-12-31 13926260 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13926260 d:ShareCapital 2022-12-31 13926260 d:RetainedEarningsAccumulatedLosses 2022-12-31 13926260 c:OrdinaryShareClass1 2022-02-18 2022-12-31 13926260 c:OrdinaryShareClass1 2022-12-31 13926260 c:FRS102 2022-02-18 2022-12-31 13926260 c:AuditExempt-NoAccountantsReport 2022-02-18 2022-12-31 13926260 c:FullAccounts 2022-02-18 2022-12-31 13926260 c:PrivateLimitedCompanyLtd 2022-02-18 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13926260









SQUATWOLF LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
SQUATWOLF LIMITED
REGISTERED NUMBER: 13926260

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
Note
£

  

Current assets
  

Stocks
 5 
34,151

Debtors: amounts falling due within one year
 6 
18,605

Cash at bank and in hand
  
6,445

  
59,201

Creditors: amounts falling due within one year
 7 
(61,971)

Net current (liabilities)/assets
  
 
 
(2,770)

Total assets less current liabilities
  
(2,770)

  

Net liabilities
  
(2,770)


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
(2,870)

  
(2,770)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


W G Memon
Director

Date: 16 November 2023

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SQUATWOLF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Squatwolf Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
The company was incorporated on 18 February 2022 and began trading on the same date.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the reporting date the company was in a net liabilities position. In order to continue trading it is dependent on the continued financial support of its group companies who have confirmed their intention to continue their support  for the foreseeable future. The financial statements do not include any adjustments that would result in the withdrawal of the aforementioned support.
After reviewing the company's most recent results and forecasts the the director considers it appropriate to prepare the financial statements on the going concern basis. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover comprises revenue recognised by the company in respect of the sale of sports clothing & shoes during the year. Revenue is recognised at the point of delivery where payments are made and the ownership of the goods are transferred to the customer.

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SQUATWOLF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the purchase price and represents stock which is currently in transit from place of origin to the customer.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties and related parties.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Judgments in applying accounting policies and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. 
Accruals
The company makes an estimate of accruals at the year end based on invoices received after the reporting date and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.


4.


Employees

The average monthly number of employees, including directors, during the period was 1.


5.


Stocks

2022
£

Stock in transit
34,151



6.


Debtors

2022
£


Other debtors
18,505

Called up share capital not paid
100

18,605


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SQUATWOLF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
£

Trade creditors
229

Amounts owed to group undertakings
56,537

Accruals and deferred income
5,205

61,971



8.


Share capital

2022
£
Allotted, called up and partly paid


10,000 Ordinary Shares shares of £0.01 each
100

On incorporation, the company issued 10,000 Ordinary Shares of 0.01 at par. The shares remained unpaid at the reporting date.



9.


Related party transactions

The company is exempt from disclosing related party transactions with companies that are wholly owned within the group. The company has not entered into any other transactions with related parties that are material and that have not been concluded under normal market conditions.


10.


Controlling party

The company's immediate parent and and controlling party is Squatwolf Holdings, a company incorporated in United Arab Emirates. The company's registered number is 000008191.
 
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