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SQUARED INSURANCE BROKERS LIMITED

Registered Number
SC644733
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2024

SQUARED INSURANCE BROKERS LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

ROBERTSON, Donna

Registered Address

2 Scarlow Street
Port Glasgow
PA14 5EY

Registered Number

SC644733 (Scotland)
SQUARED INSURANCE BROKERS LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets31,9532,709
Tangible assets42,3582,687
4,3115,396
Current assets
Debtors11,6147,650
Cash at bank and on hand27,23928,441
38,85336,091
Creditors amounts falling due within one year(13,125)(7,878)
Net current assets (liabilities)25,72828,213
Total assets less current liabilities30,03933,609
Net assets30,03933,609
Capital and reserves
Called up share capital11
Profit and loss account30,03833,608
Shareholders' funds30,03933,609
The financial statements were approved and authorised for issue by the Director on 5 November 2024, and are signed on its behalf by:
ROBERTSON, Donna
Director
Registered Company No. SC644733
SQUARED INSURANCE BROKERS LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
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.
Intangible assets
Intangible assets are amortised over 5 years
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Total

£
Cost or valuation
At 01 November 233,780
At 31 October 243,780
Amortisation and impairment
At 01 November 231,071
Charge for year756
At 31 October 241,827
Net book value
At 31 October 241,953
At 31 October 232,709
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 235,792
Additions1,216
At 31 October 247,008
Depreciation and impairment
At 01 November 233,105
Charge for year1,545
At 31 October 244,650
Net book value
At 31 October 242,358
At 31 October 232,687