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Registration number: 03476064

Squire Property Services Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Squire Property Services Limited
(Registration number: 03476064)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Squire Property Services Limited
(Registration number: 03476064)

Company Information

Directors

Mr C N Harvey

Mrs C Harvey

Company secretary

Mrs C Harvey

Registered office

53 High Street
Maidstone
Kent
ME14 1SY

Bankers

Barclays Bank Plc

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Squire Property Services Limited
(Registration number: 03476064)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

110,849

127,476

Cash at bank and in hand

 

87,639

136,365

 

198,488

263,841

Creditors: Amounts falling due within one year

5

(67,541)

(126,142)

Total assets less current liabilities

 

130,947

137,699

Creditors: Amounts falling due after more than one year

5

(20,800)

(24,000)

Net assets

 

110,147

113,699

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

110,145

113,697

Total equity

 

110,147

113,699

For the financial year ending 31 December 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 11 September 2024 and signed on its behalf by:
 

.........................................
Mrs C Harvey
Company secretary and director

 

Squire Property Services Limited
(Registration number: 03476064)

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
53 High Street
Maidstone
Kent
ME14 1SY

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.

Going concern

The trade of the company has been transferred to a connected company and therefore the accounts to 31 December 2023 have been prepared on a break up basis.

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 tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Squire Property Services Limited
(Registration number: 03476064)

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

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:

Asset class

Depreciation method and rate

Office Equipment

20% Straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Squire Property Services Limited
(Registration number: 03476064)

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 4).

 

Squire Property Services Limited
(Registration number: 03476064)

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

4

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

8,972

Amounts owed by group undertakings and undertakings in which the company has a participating interest

110,849

118,504

Total current trade and other debtors

 

110,849

127,476

 

Squire Property Services Limited
(Registration number: 03476064)

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

5

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

3,200

3,200

Trade creditors

 

-

9,112

Taxation and social security

 

-

27,453

Other creditors

 

64,341

83,186

Accrued expenses

 

-

3,191

 

67,541

126,142

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

20,800

24,000

2023
£

2022
£

Due after more than five years

After more than five years by instalments

8,000

11,200

-

-

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

3,200

3,200

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

20,800

24,000

 

Squire Property Services Limited
(Registration number: 03476064)

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

Included in the loans and borrowings are the following amounts due after more than five years:

2023
£

2022
£

After more than five years by instalments

8,000

11,200

7

Parent and ultimate parent undertaking

The ultimate controlling party is Mr C N Harvey and Mrs C Harvey who own the entire issued share capital of the parent company, Rockstow Green Properties Limited.