2023-04-012024-03-312024-03-31false06327411SQUARING CIRCLES LTD2024-09-27iso4217:GBPxbrli:pure063274112023-04-01063274112024-03-31063274112023-04-012024-03-31063274112022-04-01063274112023-03-31063274112022-04-012023-03-3106327411bus:SmallEntities2023-04-012024-03-3106327411bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3106327411bus:FullAccounts2023-04-012024-03-3106327411bus:PrivateLimitedCompanyLtd2023-04-012024-03-3106327411core:WithinOneYear2024-03-3106327411core:AfterOneYear2024-03-3106327411core:WithinOneYear2023-03-3106327411core:AfterOneYear2023-03-3106327411core:ShareCapital2024-03-3106327411core:SharePremium2024-03-3106327411core:RevaluationReserve2024-03-3106327411core:OtherReservesSubtotal2024-03-3106327411core:RetainedEarningsAccumulatedLosses2024-03-3106327411core:ShareCapital2023-03-3106327411core:SharePremium2023-03-3106327411core:RevaluationReserve2023-03-3106327411core:OtherReservesSubtotal2023-03-3106327411core:RetainedEarningsAccumulatedLosses2023-03-3106327411core:LandBuildings2024-03-3106327411core:PlantMachinery2024-03-3106327411core:Vehicles2024-03-3106327411core:FurnitureFittings2024-03-3106327411core:OfficeEquipment2024-03-3106327411core:NetGoodwill2024-03-3106327411core:IntangibleAssetsOtherThanGoodwill2024-03-3106327411core:ListedExchangeTraded2024-03-3106327411core:UnlistedNon-exchangeTraded2024-03-3106327411core:LandBuildings2023-03-3106327411core:PlantMachinery2023-03-3106327411core:Vehicles2023-03-3106327411core:FurnitureFittings2023-03-3106327411core:OfficeEquipment2023-03-3106327411core:NetGoodwill2023-03-3106327411core:IntangibleAssetsOtherThanGoodwill2023-03-3106327411core:ListedExchangeTraded2023-03-3106327411core:UnlistedNon-exchangeTraded2023-03-3106327411core:LandBuildings2023-04-012024-03-3106327411core:PlantMachinery2023-04-012024-03-3106327411core:Vehicles2023-04-012024-03-3106327411core:FurnitureFittings2023-04-012024-03-3106327411core:OfficeEquipment2023-04-012024-03-3106327411core:NetGoodwill2023-04-012024-03-3106327411core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3106327411core:ListedExchangeTraded2023-04-012024-03-3106327411core:UnlistedNon-exchangeTraded2023-04-012024-03-3106327411core:MoreThanFiveYears2023-04-012024-03-3106327411core:Non-currentFinancialInstruments2024-03-3106327411core:Non-currentFinancialInstruments2023-03-3106327411dpl:CostSales2023-04-012024-03-3106327411dpl:DistributionCosts2023-04-012024-03-3106327411core:LandBuildings2023-04-012024-03-3106327411core:PlantMachinery2023-04-012024-03-3106327411core:Vehicles2023-04-012024-03-3106327411core:FurnitureFittings2023-04-012024-03-3106327411core:OfficeEquipment2023-04-012024-03-3106327411dpl:AdministrativeExpenses2023-04-012024-03-3106327411core:NetGoodwill2023-04-012024-03-3106327411core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3106327411dpl:GroupUndertakings2023-04-012024-03-3106327411dpl:ParticipatingInterests2023-04-012024-03-3106327411dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3106327411core:ListedExchangeTraded2023-04-012024-03-3106327411dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3106327411core:UnlistedNon-exchangeTraded2023-04-012024-03-3106327411dpl:CostSales2022-04-012023-03-3106327411dpl:DistributionCosts2022-04-012023-03-3106327411core:LandBuildings2022-04-012023-03-3106327411core:PlantMachinery2022-04-012023-03-3106327411core:Vehicles2022-04-012023-03-3106327411core:FurnitureFittings2022-04-012023-03-3106327411core:OfficeEquipment2022-04-012023-03-3106327411dpl:AdministrativeExpenses2022-04-012023-03-3106327411core:NetGoodwill2022-04-012023-03-3106327411core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106327411dpl:GroupUndertakings2022-04-012023-03-3106327411dpl:ParticipatingInterests2022-04-012023-03-3106327411dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3106327411core:ListedExchangeTraded2022-04-012023-03-3106327411dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3106327411core:UnlistedNon-exchangeTraded2022-04-012023-03-3106327411core:NetGoodwill2024-03-3106327411core:IntangibleAssetsOtherThanGoodwill2024-03-3106327411core:LandBuildings2024-03-3106327411core:PlantMachinery2024-03-3106327411core:Vehicles2024-03-3106327411core:FurnitureFittings2024-03-3106327411core:OfficeEquipment2024-03-3106327411core:AfterOneYear2024-03-3106327411core:WithinOneYear2024-03-3106327411core:ListedExchangeTraded2024-03-3106327411core:UnlistedNon-exchangeTraded2024-03-3106327411core:ShareCapital2024-03-3106327411core:SharePremium2024-03-3106327411core:RevaluationReserve2024-03-3106327411core:OtherReservesSubtotal2024-03-3106327411core:RetainedEarningsAccumulatedLosses2024-03-3106327411core:NetGoodwill2023-03-3106327411core:IntangibleAssetsOtherThanGoodwill2023-03-3106327411core:LandBuildings2023-03-3106327411core:PlantMachinery2023-03-3106327411core:Vehicles2023-03-3106327411core:FurnitureFittings2023-03-3106327411core:OfficeEquipment2023-03-3106327411core:AfterOneYear2023-03-3106327411core:WithinOneYear2023-03-3106327411core:ListedExchange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SQUARING CIRCLES LTD

Registered Number
06327411
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SQUARING CIRCLES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

MORTON, Andew

Company Secretary

MORTON, Andew

Registered Address

5 Pellew Arcade, Teign Street
Teignmouth
TQ14 8EB

Registered Number

06327411 (England and Wales)
SQUARING CIRCLES LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3570759
570759
Current assets
Debtors48081,020
Cash at bank and on hand1,6204,060
2,4285,080
Creditors amounts falling due within one year5(4,718)(2,234)
Net current assets (liabilities)(2,290)2,846
Total assets less current liabilities(1,720)3,605
Net assets(1,720)3,605
Capital and reserves
Called up share capital100100
Profit and loss account(1,820)3,505
Shareholders' funds(1,720)3,605
The financial statements were approved and authorised for issue by the Director on 27 September 2024, and are signed on its behalf by:
MORTON, Andew
Director
Registered Company No. 06327411
SQUARING CIRCLES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 231,3501,350
At 31 March 241,3501,350
Depreciation and impairment
At 01 April 23591591
Charge for year189189
At 31 March 24780780
Net book value
At 31 March 24570570
At 31 March 23759759
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8081,020
Total8081,020
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts4,1341,496
Taxation and social security-208
Accrued liabilities and deferred income584530
Total4,7182,234
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
MORTON, Andew1,4964,63806,134
1,4964,63806,134