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Registered number: 12795748
Square One Projects Hampshire Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Berrywood Accountants
The New Studio
Wintershill Farm
Wintershill, Durley
Hampshire
SO32 2AH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12795748
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 60,525 80,249
60,525 80,249
CURRENT ASSETS
Debtors 5 22,177 6,372
Cash at bank and in hand 12,743 31,339
34,920 37,711
Creditors: Amounts Falling Due Within One Year 6 (137,568 ) (42,832 )
NET CURRENT ASSETS (LIABILITIES) (102,648 ) (5,121 )
TOTAL ASSETS LESS CURRENT LIABILITIES (42,123 ) 75,128
Creditors: Amounts Falling Due After More Than One Year 7 (19,099 ) (64,376 )
NET (LIABILITIES)/ASSETS (61,222 ) 10,752
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (61,322 ) 10,652
SHAREHOLDERS' FUNDS (61,222) 10,752
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Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Hodnett
Director
27/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Square One Projects Hampshire Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12795748 . The registered office is The new studio, Wintershill, SO32 2AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance after first year
Motor Vehicles 25% Reducing
Computer Equipment 3 year straight
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 4)
3 4
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2022 45,000 41,227 1,198 87,425
Additions - 850 - 850
As at 31 August 2023 45,000 42,077 1,198 88,275
Depreciation
As at 1 September 2022 - 6,378 798 7,176
Provided during the period 11,250 8,924 400 20,574
As at 31 August 2023 11,250 15,302 1,198 27,750
Net Book Value
As at 31 August 2023 33,750 26,775 - 60,525
As at 1 September 2022 45,000 34,849 400 80,249
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 15,943 -
Other debtors - 3,311
VAT 221 3,061
16,164 6,372
Due after more than one year
Directors loan account 6,013 -
6,013 -
22,177 6,372
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 22,678 31,224
Trade creditors 25,111 9,412
Bank loans and overdrafts 26,846 -
Other taxes and social security 493 2,196
Other creditors 3,505 -
Other creditors (1) 58,935 -
137,568 42,832
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Directors loan account 19,099 64,376
19,099 64,376
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8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 22,678 31,224
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid - 20,000
- 20,000
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