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Company Registration No. 08847281 (England and Wales)
Squish Supply Ltd Unaudited accounts for the year ended 31 December 2023
Squish Supply Ltd Unaudited accounts Contents
Page
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Squish Supply Ltd Company Information for the year ended 31 December 2023
Directors
Robert Alexander Simpson Daniel Robert Harrison John Wallington Seth Romans
Company Number
08847281 (England and Wales)
Registered Office
2.06 Food Exchange New Covent Garden Market LONDON SW8 5EL UNITED KINGDOM
Accountants
Williams Stanley and Co
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Squish Supply Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
400,000 
450,000 
Tangible assets
243,678 
144,280 
643,678 
594,280 
Current assets
Inventories
233,722 
81,711 
Debtors
535,382 
281,817 
Cash at bank and in hand
217,061 
663,967 
986,165 
1,027,495 
Creditors: amounts falling due within one year
(451,211)
(234,183)
Net current assets
534,954 
793,312 
Total assets less current liabilities
1,178,632 
1,387,592 
Creditors: amounts falling due after more than one year
(397,407)
(581,858)
Provisions for liabilities
Deferred tax
(46,299)
(22,824)
Net assets
734,926 
782,910 
Capital and reserves
Called up share capital
12 
12 
Share premium
754,998 
754,998 
Profit and loss account
(20,084)
27,900 
Shareholders' funds
734,926 
782,910 
For the year ending 31 December 2023 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 18 November 2024 and were signed on its behalf by
Daniel Robert Harrison Director Company Registration No. 08847281
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Squish Supply Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Squish Supply Ltd is a private company, limited by shares, registered in England and Wales, registration number 08847281. The registered office is 2.06 Food Exchange, New Covent Garden Market, LONDON, SW8 5EL, UNITED KINGDOM.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5 Years
Plant & machinery
10% on cost
Motor vehicles
25% on reducing balance
Fixtures & fittings
20% on cost
Computer equipment
33% on cost
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Squish Supply Ltd Notes to the Accounts for the year ended 31 December 2023
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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
500,000 
At 31 December 2023
500,000 
Amortisation
At 1 January 2023
50,000 
Charge for the year
50,000 
At 31 December 2023
100,000 
Net book value
At 31 December 2023
400,000 
At 31 December 2022
450,000 
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Squish Supply Ltd Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At valuation 
At cost 
At cost 
At cost 
At 1 January 2023
3,252 
103,900 
16,664 
8,213 
116,872 
248,901 
Additions
- 
2,250 
- 
108,050 
1,595 
111,895 
Revaluations
- 
88,125 
- 
- 
(106,273)
(18,148)
Disposals
(3,252)
- 
(9,465)
(5,756)
- 
(18,473)
At 31 December 2023
- 
194,275 
7,199 
110,507 
12,194 
324,175 
Depreciation
At 1 January 2023
3,252 
68,928 
16,664 
7,192 
8,585 
104,621 
Charge for the year
- 
20,073 
1,012 
20,622 
3,555 
45,262 
Surplus on revaluation
- 
(41,268)
- 
- 
(4,837)
(46,105)
On disposals
(3,252)
- 
(13,514)
(6,515)
- 
(23,281)
At 31 December 2023
- 
47,733 
4,162 
21,299 
7,303 
80,497 
Net book value
At 31 December 2023
- 
146,542 
3,037 
89,208 
4,891 
243,678 
At 31 December 2022
- 
34,972 
- 
1,021 
108,287 
144,280 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
405,519 
272,681 
Accrued income and prepayments
124,953 
7,996 
Other debtors
4,910 
1,140 
535,382 
281,817 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
70,011 
68,133 
VAT
48,746 
30,460 
Obligations under finance leases and hire purchase contracts
2,333 
8,862 
Trade creditors
294,131 
87,799 
Taxes and social security
13,465 
31,903 
Accruals
22,525 
7,026 
451,211 
234,183 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
157,450 
227,461 
Amounts owed to group undertakings and other participating interests
164,910 
241,959 
Loans from directors
75,047 
112,438 
397,407 
581,858 
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Squish Supply Ltd Notes to the Accounts for the year ended 31 December 2023
9
Transactions with related parties
As at 31 December 2023 the company owed Mr D Harrison (director) £41,895 (December 2022: £64,795). The loan accrues at an interest rate of 5% and is repayable on demand. As at 31 December 2023 the company owed Mr R Simpson (director) £33,152 (December 2022: £49,643). The loan accrues at an interest rate of 5% and is repayable on demand. As at 31 December 2023 the company owed Roman Wall Ventures £98,946 (December 2022: £147,194) in respect of two loans with no formal repayment terms. Each loan accrues at a different rate of interest per annum: £76,509 at 5% and £22,437 at 7.5%. As at 31 December 2023 the company owed Finnex Holdings £65,964 (December 2022: £98,130) in respect of two loans with no formal repayment terms. Each loan accrues at a different rate of interest per annum: £51,006 at 5% and £14,958 at 7.5%.
10
Average number of employees
During the year the average number of employees was 18 (2022: 23).
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