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
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
Squish Supply Ltd
Statement of financial position
as at 31 December 2023
Intangible assets
400,000
450,000
Tangible assets
243,678
144,280
Inventories
233,722
81,711
Cash at bank and in hand
217,061
663,967
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
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
Squish Supply Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
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:
Plant & machinery
10% on cost
Motor vehicles
25% on reducing balance
Fixtures & fittings
20% on cost
Computer equipment
33% on cost
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.
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.
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.
Squish Supply Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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
At 31 December 2023
500,000
Charge for the year
50,000
At 31 December 2023
100,000
At 31 December 2023
400,000
At 31 December 2022
450,000
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
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
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
Amounts falling due within one year
Trade debtors
405,519
272,681
Accrued income and prepayments
124,953
7,996
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
70,011
68,133
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
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
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).