Square And Bridge Ltd SC644579 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is property investment. Digita Accounts Production Advanced 6.30.9574.0 true SC644579 2022-11-01 2023-10-31 SC644579 2023-10-31 SC644579 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-10-31 SC644579 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 SC644579 core:FurnitureFittingsToolsEquipment 2023-10-31 SC644579 bus:SmallEntities 2022-11-01 2023-10-31 SC644579 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC644579 bus:FullAccounts 2022-11-01 2023-10-31 SC644579 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC644579 bus:RegisteredOffice 2022-11-01 2023-10-31 SC644579 bus:Director1 2022-11-01 2023-10-31 SC644579 bus:Director2 2022-11-01 2023-10-31 SC644579 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-11-01 2023-10-31 SC644579 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC644579 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 SC644579 countries:AllCountries 2022-11-01 2023-10-31 SC644579 2022-10-31 SC644579 core:FurnitureFittingsToolsEquipment 2022-10-31 SC644579 2021-11-01 2022-10-31 SC644579 2022-10-31 SC644579 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-10-31 SC644579 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 SC644579 core:FurnitureFittingsToolsEquipment 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC644579

Square And Bridge Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Square And Bridge Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Square And Bridge Ltd

Company Information

Directors

Mrs Jacqueline Smith

Mr Gordon Smith

Registered office

12 Green Wood
Kinross
KY13 8FG

Accountants

Ross McConnell
Chartered Accountant
3 High Street
Kinross
KY13 8AW

 

Square And Bridge Ltd

(Registration number: SC644579)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

952

1,427

Investment property

5

354,464

354,464

 

355,416

355,891

Current assets

 

Cash at bank and in hand

 

1,204

6,947

Creditors: Amounts falling due within one year

6

(366,911)

(364,911)

Net current liabilities

 

(365,707)

(357,964)

Net liabilities

 

(10,291)

(2,073)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(10,391)

(2,173)

Shareholders' deficit

 

(10,291)

(2,073)

 

Square And Bridge Ltd

(Registration number: SC644579)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 July 2024 and signed on its behalf by:
 

.........................................
Mrs Jacqueline Smith
Director

.........................................
Mr Gordon Smith
Director

 

Square And Bridge Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The address of its registered office is:
12 Green Wood
Kinross
KY13 8FG

These financial statements were authorised for issue by the Board on 30 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Square And Bridge Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Asset class

Depreciation method and rate

Furniture

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Square And Bridge Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

2,377

2,377

At 31 October 2023

2,377

2,377

Depreciation

At 1 November 2022

950

950

Charge for the year

475

475

At 31 October 2023

1,425

1,425

Carrying amount

At 31 October 2023

952

952

At 31 October 2022

1,427

1,427

5

Investment properties

2023
£

At 1 November

354,464

At 31 October

354,464

There has been no valuation of investment property by an independent valuer.

 

Square And Bridge Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

365,711

363,711

Accruals and deferred income

 

1,200

1,200

 

366,911

364,911

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100