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Company Registration No. 12159148 (England and Wales)
SQR Properties Ltd Unaudited accounts for the year ended 31 July 2024
SQR Properties Ltd Unaudited accounts Contents
Page
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SQR Properties Ltd Company Information for the year ended 31 July 2024
Directors
Ryan Loong Sai Quan Sinh Luu Quan
Company Number
12159148 (England and Wales)
Registered Office
71-75 SHELTON STREET COVENT GARDEN LONDON WC2H 9JQ ENGLAND
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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SQR Properties Ltd Accountants' report
Accountants' report to the board of directors of SQR Properties Ltd on the preparation of the unaudited statutory accounts for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SQR Properties Ltd for the year ended 31 July 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 SQR Properties Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of SQR Properties 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 SQR Properties Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SQR Properties 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 SQR Properties Ltd. You consider that SQR Properties 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 SQR Properties 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.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 8 November 2024
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SQR Properties Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
138,000 
138,000 
Current assets
Cash at bank and in hand
3,650 
169 
Creditors: amounts falling due within one year
(89,756)
(87,258)
Net current liabilities
(86,106)
(87,089)
Total assets less current liabilities
51,894 
50,911 
Creditors: amounts falling due after more than one year
(88,344)
(89,355)
Net liabilities
(36,450)
(38,444)
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
11,885 
15,847 
Profit and loss account
(48,435)
(54,391)
Shareholders' funds
(36,450)
(38,444)
For the year ending 31 July 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 14 November 2024 and were signed on its behalf by
Sinh Luu Quan Director Company Registration No. 12159148
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SQR Properties Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
SQR Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 12159148. The registered office is 71-75 SHELTON STREET, COVENT GARDEN, LONDON, WC2H 9JQ, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2024 
£ 
Fair value at 1 August 2023
138,000 
At 31 July 2024
138,000 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
88,736 
86,238 
Accruals
1,020 
1,020 
89,756 
87,258 
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SQR Properties Ltd Notes to the Accounts for the year ended 31 July 2024
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
88,344 
89,355 
Aggregate of amounts that fall due for payment after five years
85,640 
85,640 
Included in long term creditors is a mortgage secured on the investment property. A personal guarantee has been provided.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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