Registered number
08946482
A Squared Technologies Limited
Filleted Accounts
31 March 2024
L P Crane & Co.
Chartered Certified Accountants
109a Upper Bristol Road
Weston-super-Mare
North Somerset
BS22 8DN
A Squared Technologies Limited
Registered number: 08946482
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 167 2,167
Tangible assets 4 125,821 92,923
125,988 95,090
Current assets
Stocks 139,934 153,440
Debtors 5 115,127 169,956
Investments held as current assets 6 300,769 244,068
Cash at bank and in hand 464,938 408,167
1,020,768 975,631
Creditors: amounts falling due within one year 7 (96,130) (111,960)
Net current assets 924,638 863,671
Total assets less current liabilities 1,050,626 958,761
Provisions for liabilities (30,163) (18,061)
Net assets 1,020,463 940,700
Capital and reserves
Called up share capital 220 220
Revaluation reserve 8 49 49
Profit and loss account 1,020,194 940,431
Shareholders' funds 1,020,463 940,700
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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.
K Bach
Director
Approved by the board on 14 October 2024
A Squared Technologies Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance basis
Plant and machinery 25% reducing balance basis
Office equipment 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 19
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 20,000
At 31 March 2024 20,000
Amortisation
At 1 April 2023 17,833
Provided during the year 2,000
At 31 March 2024 19,833
Net book value
At 31 March 2024 167
At 31 March 2023 2,167
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Motor vehicles Plant and machinery etc Office Equipment Total
£ £ £ £
Cost
At 1 April 2023 31,729 165,464 10,297 207,490
Additions 45,289 29,682 1,213 76,184
Surplus on revaluation (31,729) - - (31,729)
At 31 March 2024 45,289 195,146 11,510 251,945
Depreciation
At 1 April 2023 11,002 99,422 4,143 114,567
Charge for the year 5,684 20,058 1,567 27,309
Surplus on revaluation (15,752) - - (15,752)
At 31 March 2024 934 119,480 5,710 126,124
Net book value
At 31 March 2024 44,355 75,666 5,800 125,821
At 31 March 2023 20,727 66,042 6,154 92,923
5 Debtors 2024 2023
£ £
Trade debtors 112,067 169,956
Other debtors 3,060 -
115,127 169,956
6 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 300,769 244,068
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 25,449 (16,099)
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 17,487 45,146
Taxation and social security costs 76,138 56,461
Other creditors 2,505 10,353
96,130 111,960
8 Capital redemption reserve 2024 2023
£ £
At 1 April 2023 49 49
At 31 March 2024 49 49
9 Other information
A Squared Technologies Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6 Bridgwater Court
Oldmixon Crescent
Weston super Mare
North Somerset
BS24 9AY
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