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REGISTERED NUMBER: 00654330 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

A & E SQUIRE LIMITED

A & E SQUIRE LIMITED (REGISTERED NUMBER: 00654330)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


A & E SQUIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M R Squire
C E Squire





SECRETARY: Mrs D E Sims





REGISTERED OFFICE: 61 Coltham Road
Willenhall
West Midlands
WV12 5QF





REGISTERED NUMBER: 00654330 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

A & E SQUIRE LIMITED (REGISTERED NUMBER: 00654330)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 112,182 113,448

CURRENT ASSETS
Stocks 5 48,668 55,667
Debtors 6 18,663 22,414
Prepayments and accrued income 3,195 4,575
Cash at bank and in hand 329 6,114
70,855 88,770
CREDITORS
Amounts falling due within one year 7 92,254 79,524
NET CURRENT (LIABILITIES)/ASSETS (21,399 ) 9,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,783

122,694

CREDITORS
Amounts falling due after more than one
year

8

(23,193

)

(27,546

)

PROVISIONS FOR LIABILITIES (1,745 ) (1,557 )
NET ASSETS 65,845 93,591

CAPITAL AND RESERVES
Called up share capital 18,400 18,400
Retained earnings 47,445 75,191
SHAREHOLDERS' FUNDS 65,845 93,591

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

A & E SQUIRE LIMITED (REGISTERED NUMBER: 00654330)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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

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 1 August 2024 and were signed on its behalf by:





C E Squire - Director


A & E SQUIRE LIMITED (REGISTERED NUMBER: 00654330)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

A & E Squire 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparation of 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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures, fittings and office equipment - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 taxation
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.

Hire purchase and leasing contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

A & E SQUIRE LIMITED (REGISTERED NUMBER: 00654330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
Freehold Plant and office Computer
property machinery equipment equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 105,000 117,863 19,803 7,729 250,395
DEPRECIATION
At 1 April 2023 - 112,942 16,979 7,026 136,947
Charge for year - 738 423 105 1,266
At 31 March 2024 - 113,680 17,402 7,131 138,213
NET BOOK VALUE
At 31 March 2024 105,000 4,183 2,401 598 112,182
At 31 March 2023 105,000 4,921 2,824 703 113,448

5. STOCKS
2024 2023
£    £   
Raw materials 32,162 33,610
Goods for resale 16,506 22,057
48,668 55,667

6. DEBTORS
2024 2023
£    £   
Trade debtors 18,663 22,414

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,685 6,237
Trade creditors 27,380 20,560
Taxation and social security 20,065 27,091
Other creditors 31,124 25,636
92,254 79,524

A & E SQUIRE LIMITED (REGISTERED NUMBER: 00654330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 23,193 27,546

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,599

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 29,688 33,783

The bank loan is secured by a fixed charge dated 28th June 2019 over the freehold property at 61 Coltham Road, Willenhall, West Midlands, WV12 5QF.