Registered number
11139463
Squadigital UK Limited
Filleted Accounts
31 December 2023
Squadigital UK Limited
Registered number: 11139463
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 9,964 20,327
Current assets
Debtors 5 2,736,916 3,113,193
Cash at bank and in hand 263,424 601,107
3,000,340 3,714,300
Creditors: amounts falling due within one year 6 (1,485,828) (1,849,508)
Net current assets 1,514,512 1,864,792
Net assets 1,524,476 1,885,119
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account 1,504,476 1,865,119
Shareholders' funds 1,524,476 1,885,119
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Remi Pierre Jean Pesseguier
Director
Approved by the board on 27 September 2024
Squadigital UK Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Olivier P.J. Foucault
Firm: FC Expertise Ltd
Date of audit report: 27 September 2024
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 24 21
4 Tangible fixed assets
IT & office equipment
£
Cost
At 1 January 2023 36,984
Additions 1,124
Disposals (2,121)
At 31 December 2023 35,987
Depreciation
At 1 January 2023 16,657
Charge for the year 10,530
On disposals (1,164)
At 31 December 2023 26,023
Net book value
At 31 December 2023 9,964
At 31 December 2022 20,327
5 Debtors 2023 2022
£ £
Trade debtors 2,476,627 1,893,902
Other debtors 260,289 1,219,291
2,736,916 3,113,193
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 879,080 112,849
Amounts owed to group undertakings and undertakings in which the company has a participating interest 417,334 758,048
Taxation and social security costs 64,916 290,591
Other creditors 124,498 688,020
1,485,828 1,849,508
7 Controlling party
Squadigital SAS, a company incorporated in France, controls the company by virtue of its 100% shareholding.
8 Other information
Squadigital UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Number 22
Mount Ephraim
Tunbridge Wells
Kent
TN4 8AS
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