Registered number
09043983
Squad Four Ltd
Filleted Accounts
31 May 2023
Squad Four Ltd
Registered number: 09043983
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,689 1,398
Current assets
Debtors 4 - 12,809
Cash at bank and in hand 69,812 14,762
69,812 27,571
Creditors: amounts falling due within one year 5 (24,092) (19,148)
Net current assets 45,720 8,423
Net assets 47,409 9,821
Capital and reserves
Called up share capital 100 100
Profit and loss account 47,309 9,721
Shareholder's funds 47,409 9,821
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Rizwan Idrees
Director
Approved by the board on 3 October 2023
Squad Four Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 4,559
Additions 981
At 31 May 2023 5,540
Depreciation
At 1 June 2022 3,161
Charge for the year 690
At 31 May 2023 3,851
Net book value
At 31 May 2023 1,689
At 31 May 2022 1,398
4 Debtors 2023 2022
£ £
Trade debtors - 12,809
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's account 677 -
Corporation tax 19,419 15,474
Taxation and social security costs (1,090) 56
Other creditors 5,086 3,618
24,092 19,148
6 Other information
Squad Four Ltd is a private company limited by shares and incorporated in England. Its registered office is:
27 Bowling Green Close
Bletchley
Milton Keynes
MK2 2FF
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