Company Registration No. 11205177 (England and Wales)
R Squared Ventures Ltd
Unaudited accounts
for the year ended 29 February 2024
R Squared Ventures Ltd
Unaudited accounts
Contents
R Squared Ventures Ltd
Company Information
for the year ended 29 February 2024
Directors
Mr Ross Boyd
Mr Ricardo Simard
Company Number
11205177 (England and Wales)
Registered Office
21 Victor Road
Windsor
Berkshire
SL4 3JS
UK
Accountants
Bell Howley Perrotton LLP
53 Davies Street
Mayfair
London
W1K 5JH
R Squared Ventures Ltd
Accountants' report
Accountants' report to the board of directors of R Squared Ventures Ltd on the preparation of the unaudited statutory accounts for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
R Squared Ventures Ltd for the year ended
29 February 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of R Squared Ventures Ltd, as a body, in accordance with the terms of our engagement letter dated 17 February 2021. Our work has been undertaken solely to prepare for your approval the accounts of R Squared Ventures Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R Squared Ventures Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that R Squared Ventures Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R Squared Ventures Ltd. You consider that R Squared Ventures Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of R Squared Ventures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Bell Howley Perrotton LLP
53 Davies Street
Mayfair
London
W1K 5JH
22 October 2024
R Squared Ventures Ltd
Statement of financial position
as at 29 February 2024
Investment property
754,163
733,192
Cash at bank and in hand
3,453
7,592
Creditors: amounts falling due within one year
(198,497)
(204,099)
Net current liabilities
(193,794)
(195,257)
Total assets less current liabilities
560,369
537,935
Creditors: amounts falling due after more than one year
(516,252)
(516,252)
Called up share capital
100
100
Revaluation reserve
59,064
(59,064)
Profit and loss account
(15,047)
80,647
Shareholders' funds
44,117
21,683
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by
Mr Ricardo Simard
Director
Company Registration No. 11205177
R Squared Ventures Ltd
Notes to the Accounts
for the year ended 29 February 2024
R Squared Ventures Ltd is a private company, limited by shares, registered in England and Wales, registration number 11205177. The registered office is 21 Victor Road, Windsor, Berkshire, SL4 3JS, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 March 2023
733,192
At 29 February 2024
754,163
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,897
1,254
Other creditors
165,600
165,600
Loans from directors
30,000
37,245
R Squared Ventures Ltd
Notes to the Accounts
for the year ended 29 February 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
516,252
516,252
8
Transactions with related parties
At the balance sheet date, the company owed James, Wilson & Boyd Consulting Ltd. £165,000. Both companies had common shareholders and directors.
The company owed £30,000 (2023- £37,245) to its directors; this loan was interest-free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).