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REGISTERED NUMBER: SC533068 (Scotland)















8 Square Limited

Financial Statements For The Year Ended 30 April 2024






8 Square Limited (Registered number: SC533068)






Contents of the Financial Statements
For The Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


8 Square Limited

Company Information
For The Year Ended 30 April 2024







DIRECTORS: Ms K Daun
Mr N Hatton



REGISTERED OFFICE: 29 Quarryline Street
Chapelton
Stonehaven
Aberdeenshire
AB39 8BT



REGISTERED NUMBER: SC533068 (Scotland)



ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Bank of Scotland
PO Box 17235
Edinburgh
EH11 1YH

8 Square Limited (Registered number: SC533068)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,018 58,404

CURRENT ASSETS
Stocks 20,742 20,234
Debtors 5 - 16,595
Cash at bank and in hand 172 4,271
20,914 41,100
CREDITORS
Amounts falling due within one year 6 163,684 79,158
NET CURRENT LIABILITIES (142,770 ) (38,058 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(59,752

)

20,346

CREDITORS
Amounts falling due after more than one
year

7

(33,958

)

(34,170

)

PROVISIONS FOR LIABILITIES 8 - (3,756 )
NET LIABILITIES (93,710 ) (17,580 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (93,810 ) (17,680 )
SHAREHOLDERS' FUNDS (93,710 ) (17,580 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

8 Square Limited (Registered number: SC533068)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 17 December 2024 and were signed on its behalf by:





Mr N L Hatton - Director


8 Square Limited (Registered number: SC533068)

Notes to the Financial Statements
For The Year Ended 30 April 2024

1. STATUTORY INFORMATION

8 Square Limited is a private company, limited by shares , registered in Scotland. 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.
Tenants improvements - 10% on cost
Fixtures & equipment - 33% on cost, 25% on reducing balance and 15% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The balance sheet shows that liabilities exceed assets by £93,709 including a liability to the directors of the company of £129,886. The director of the company has confirmed that he will maintain financial support for the foreseeable future to enable the company to continue normal trading operations. The financial statements are therefore drawn up on a going concern basis.

8 Square Limited (Registered number: SC533068)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Equipment
£    £    £   
COST
At 1 May 2023 73,019 - 676
Additions - 68,806 1,543
Disposals (70,445 ) - -
At 30 April 2024 2,574 68,806 2,219
DEPRECIATION
At 1 May 2023 47,281 - 108
Charge for year 3,657 4,994 353
Eliminated on disposal (49,126 ) - -
At 30 April 2024 1,812 4,994 461
NET BOOK VALUE
At 30 April 2024 762 63,812 1,758
At 30 April 2023 25,738 - 568

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023 54,225 938 128,858
Additions - - 70,349
Disposals (15,304 ) - (85,749 )
At 30 April 2024 38,921 938 113,458
DEPRECIATION
At 1 May 2023 22,878 187 70,454
Charge for year 6,993 310 16,307
Eliminated on disposal (7,195 ) - (56,321 )
At 30 April 2024 22,676 497 30,440
NET BOOK VALUE
At 30 April 2024 16,245 441 83,018
At 30 April 2023 31,347 751 58,404

8 Square Limited (Registered number: SC533068)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors - 16,595

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,830 8,774
Trade creditors - 300
Taxation and social security 6,867 7,496
Other creditors 145,987 62,588
163,684 79,158

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 33,958 34,170

8. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax - 3,756

Deferred
tax
£   
Balance at 1 May 2023 3,756
Provided during year (3,756 )
Balance at 30 April 2024 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 May 2023 (17,680 )
Deficit for the year (76,130 )
At 30 April 2024 (93,810 )

8 Square Limited (Registered number: SC533068)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024

11. CAPITAL COMMITMENTS
30.4.24 30.4.23
£    £   
Contracted but not provided for in the
financial statements 7,032 5,000

12. RELATED PARTY DISCLOSURES

At 30 April 2023 the company owed the directors £61,197. During the year the company met expenses totalling £68,689 on behalf of the directors . At 30 April 2024 the company owed the director £129,886. This loan is interest free and has no fixed terms of repayment.