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REGISTERED NUMBER: 05047460 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Square One Commercials Limited

Square One Commercials Limited (Registered number: 05047460)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Square One Commercials Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P De'Ath





REGISTERED OFFICE: Castle Park Road
Whiddon Valley
Barnstaple
Devon
EX32 8PA





REGISTERED NUMBER: 05047460 (England and Wales)





ACCOUNTANTS: KRPM Business Solutions Limited
Little Bursdon
Hartland
Bideford
Devon
EX39 6HB

Square One Commercials Limited (Registered number: 05047460)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 543,799 422,373

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 5 209,930 210,005
Cash at bank and in hand 177,970 152,164
402,900 377,169
CREDITORS
Amounts falling due within one year 6 124,954 93,531
NET CURRENT ASSETS 277,946 283,638
TOTAL ASSETS LESS CURRENT
LIABILITIES

821,745

706,011

CREDITORS
Amounts falling due after more than
one year

7

283,951

279,331
NET ASSETS 537,794 426,680

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 536,794 425,680
537,794 426,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Square One Commercials Limited (Registered number: 05047460)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2024 and were signed by:





P De'Ath - Director


Square One Commercials Limited (Registered number: 05047460)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Square One Commercials Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Square One Commercials Limited (Registered number: 05047460)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 335,000 262,338 597,338
Additions - 230,029 230,029
Disposals - (43,597 ) (43,597 )
At 31 March 2024 335,000 448,770 783,770
DEPRECIATION
At 1 April 2023 - 174,965 174,965
Charge for year - 65,006 65,006
At 31 March 2024 - 239,971 239,971
NET BOOK VALUE
At 31 March 2024 335,000 208,799 543,799
At 31 March 2023 335,000 87,373 422,373

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 209,930 162,131
Other debtors - 47,874
209,930 210,005

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 11,611 9,279
Trade creditors 56,880 39,820
Taxation and social security 52,347 41,531
Other creditors 4,116 2,901
124,954 93,531

Square One Commercials Limited (Registered number: 05047460)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 43,185 21,618
Other creditors 240,766 257,713
283,951 279,331

Amounts falling due in more than five years:

Repayable by instalments
Debentures more 5yrs-instalm 224,500 234,500