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REGISTERED NUMBER: 07207988 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

3SQUARED LTD.

3SQUARED LTD. (REGISTERED NUMBER: 07207988)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


3SQUARED LTD.

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr G D Hyman
Mr J N Anton
Mr J Darragh
Mr J Hewitt
C A Wilson





REGISTERED OFFICE: 2nd Floor Fountain Precinct
Balm Green
Sheffield
S1 2JA





REGISTERED NUMBER: 07207988 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

3SQUARED LTD. (REGISTERED NUMBER: 07207988)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 753 617
Tangible assets 5 201,883 248,953
202,636 249,570

CURRENT ASSETS
Debtors 6 3,447,697 3,119,455
Cash at bank and in hand 418,478 464,834
3,866,175 3,584,289
CREDITORS
Amounts falling due within one year 7 2,165,941 1,728,662
NET CURRENT ASSETS 1,700,234 1,855,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,902,870

2,105,197

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,902,770 2,105,097
SHAREHOLDERS' FUNDS 1,902,870 2,105,197

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





Mr J N Anton - Director


3SQUARED LTD. (REGISTERED NUMBER: 07207988)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

3squared Ltd. 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.

2. ACCOUNTING POLICIES

Basis of preparing the 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.

Significant judgements and estimates
The following judgements have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Rendering of services
Revenue from Software Development services is recognised by reference to the stage of completion at the balance sheet date. The stage of completion is measured by reference to the number of staff hours required to complete the contract which is estimated by management.

Estimation is required in determining an appropriate number of staff hours required to complete a contract. The staff hours are based on managements best estimate after considering works performed to the year end date.

3SQUARED LTD. (REGISTERED NUMBER: 07207988)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. Revenue is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
* the Company has transferred the significant risks and rewards of ownership to the buyer;
* the Company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the transaction; and
* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably

Stage of completion is measured by reference to the number of staff hours required to complete the contract.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademark are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - at variable rates on reducing balance
Improvements to property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

3SQUARED LTD. (REGISTERED NUMBER: 07207988)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the un-discounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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 a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2022 - 71 ) .

3SQUARED LTD. (REGISTERED NUMBER: 07207988)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill Trademark Totals
£    £    £   
COST
At 1 January 2023 20,000 3,600 23,600
Additions - 500 500
At 31 December 2023 20,000 4,100 24,100
AMORTISATION
At 1 January 2023 20,000 2,983 22,983
Amortisation for year - 364 364
At 31 December 2023 20,000 3,347 23,347
NET BOOK VALUE
At 31 December 2023 - 753 753
At 31 December 2022 - 617 617

5. TANGIBLE FIXED ASSETS
Improvements
Office to Plant and
equipment property machinery
£    £    £   
COST
At 1 January 2023 30,510 84,515 108,230
Additions - - -
At 31 December 2023 30,510 84,515 108,230
DEPRECIATION
At 1 January 2023 20,727 21,999 40,622
Charge for year 2,471 7,359 13,092
At 31 December 2023 23,198 29,358 53,714
NET BOOK VALUE
At 31 December 2023 7,312 55,157 54,516
At 31 December 2022 9,783 62,516 67,608

3SQUARED LTD. (REGISTERED NUMBER: 07207988)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 61,723 308,245 593,223
Additions - 34,791 34,791
At 31 December 2023 61,723 343,036 628,014
DEPRECIATION
At 1 January 2023 27,534 233,388 344,270
Charge for year 6,580 52,359 81,861
At 31 December 2023 34,114 285,747 426,131
NET BOOK VALUE
At 31 December 2023 27,609 57,289 201,883
At 31 December 2022 34,189 74,857 248,953

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 454,946 475,572
Amounts owed by group undertakings 2,587,336 2,105,314
Amounts recoverable on contract 4,449 118,980
Other debtors 2,665 6,204
Tax 58,860 221,115
Deferred tax asset 168,454 76,803
Prepayments and accrued income 170,987 115,467
3,447,697 3,119,455

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 237,883 215,484
Amounts owed to group undertakings 479,408 79,144
Social security and other taxes 235,486 228,250
Other creditors 13,704 2,789
Accruals and deferred income 1,199,460 1,202,995
2,165,941 1,728,662

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 129,773 129,773
Between one and five years 21,421 151,819
151,194 281,592

3SQUARED LTD. (REGISTERED NUMBER: 07207988)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. DEFERRED TAX
£   
Balance at 1 January 2023 (76,803 )
Accelerated capital allowances 726
Tax losses (92,377 )
Balance at 31 December 2023 (168,454 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 A Ordinary £0.01 50 50
5,000 B Ordinary £0.01 50 50
100 100

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr J Fox
Balance outstanding at start of year - 166,542
Amounts repaid - (166,542 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr T Jones
Balance outstanding at start of year - 501,142
Amounts repaid - (501,142 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest is charged on amounts advanced to directors at 2.5%.
No transactions or balances were written off in the period.