Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07537444 2023-01-01 2023-12-31 07537444 2022-01-01 2022-12-31 07537444 2023-12-31 07537444 2022-12-31 07537444 c:Director1 2023-01-01 2023-12-31 07537444 d:OfficeEquipment 2023-01-01 2023-12-31 07537444 d:OfficeEquipment 2023-12-31 07537444 d:OfficeEquipment 2022-12-31 07537444 d:CurrentFinancialInstruments 2023-12-31 07537444 d:CurrentFinancialInstruments 2022-12-31 07537444 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07537444 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07537444 d:ShareCapital 2023-12-31 07537444 d:ShareCapital 2022-12-31 07537444 d:RetainedEarningsAccumulatedLosses 2023-12-31 07537444 d:RetainedEarningsAccumulatedLosses 2022-12-31 07537444 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07537444 c:OrdinaryShareClass1 2023-12-31 07537444 c:OrdinaryShareClass1 2022-12-31 07537444 c:FRS102 2023-01-01 2023-12-31 07537444 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07537444 c:FullAccounts 2023-01-01 2023-12-31 07537444 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07537444 2 2023-01-01 2023-12-31 07537444 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07537444








2SQUARE LONDON LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED  31 DECEMBER 2023

 
2SQUARE LONDON LIMITED
REGISTERED NUMBER: 07537444

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 7 
27,986
101,933

Cash at bank and in hand
  
26,949
9,793

  
54,935
111,726

Creditors: amounts falling due within one year
 8 
(27,584)
(130,644)

Net current assets/(liabilities)
  
 
 
27,351
 
 
(18,918)

Total assets less current liabilities
  
27,351
(18,918)

  

Net assets/(liabilities)
  
27,351
(18,918)


Capital and reserves
  

Called up share capital 
 9 
298,000
298,000

Profit and loss account
  
(270,649)
(316,918)

  
27,351
(18,918)


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 year 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 on 3 September 2024.




G. Alessandrini
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
2SQUARE LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

2Square London Limited is a private company limited by shares and incorporated in England. Its registered office is 30 Orange Street, London, WC2H 7HF.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

These accounts have been prepared on the going concern basis. The shareholder has expressed a commitment to continue to support the company financially.

 
2.3

Revenue

Revenue comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price.

Page 2

 
2SQUARE LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.9

Interest income

Interest income is recognised in the Statement of income and retained earnings as received.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.
Page 3

 
2SQUARE LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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 banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Interest receivable

2023
2022
£
£


Other interest receivable
2
-

2
-


5.


Taxation



Factors affecting tax charge for the year

The company had tax losses brought forward of £316,931 which have been offset against the current year profit so no tax arises. 



Factors that may affect future tax charges

The company has tax losses of £270,662 to carry forward against future profits.

Page 4

 
2SQUARE LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
11,653



At 31 December 2023

11,653



Depreciation


At 1 January 2023
11,653



At 31 December 2023

11,653



Net book value



At 31 December 2023
-



At 31 December 2022
-


7.


Debtors

2023
2022
£
£


2Square Srl
25,121
101,613

VAT Repayable
2,865
320

27,986
101,933



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
757
1,920

Other creditors
23,577
125,724

Accruals
3,250
3,000

27,584
130,644


Page 5

 
2SQUARE LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



298,000 (2022 - 298,000) Ordinary shares of £1.00 each
298,000
298,000



10.


Related party transactions

The company trades on a commercial basis with a commonly owned company called 2Square Srl which is based in Italy. At the year end, 2Square Srl owed the company £25,121 (2022 - £101,613).
Included within other creditors are loans provided by the director shareholder of £23,577 (2022 - £125,724).


11.


Controlling party

The Ultimate Controlling Party is 2Square Srl.

 
Page 6