Contents of the Financial Statements
for the Period Ended 28 February 2024
Balance sheet
As at
28 February 2024
|
Notes
|
2024
|
|
|
£
|
Called up share capital not paid: |
|
0
|
Fixed assets |
Investments: |
3 |
2,274,657
|
Total fixed assets: |
|
2,274,657
|
Current assets |
Cash at bank and in hand: |
|
42,643
|
Total current assets: |
|
42,643
|
Net current assets (liabilities): |
|
42,643
|
Total assets less current liabilities: |
|
2,317,300
|
Creditors: amounts falling due after more than one year: |
|
(2,369,763)
|
Total net assets (liabilities): |
|
(52,463)
|
Capital and reserves |
Called up share capital: |
|
100
|
Profit and loss account: |
|
(52,563)
|
Shareholders funds: |
|
(52,463)
|
The notes form part of these financial statements
Balance sheet statements
For the year ending 28 February 2024 the company was entitled to exemption 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit & loss account.
This report was approved by the board of directors on
29 January 2025
and signed on behalf of the board by:
Name:
Sidharth Narang
Status: Director
The notes form part of these financial statements
Notes to the Financial Statements
for the Period Ended 28 February 2024
1. Accounting policies
These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
Value added taxes and other sales taxes.Tangible fixed assets and depreciation policy
Depreciation has been provided at the following annual rates to write off each asset over its estimated useful life:
Plant & Machinery: 20% on the reducing balance method
Motor Vehicles: 25% on the reducing balance method
Computer Equipment: 33% on the reducing balance method.Intangible fixed assets and amortisation policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortization and impairment losses. Computer software is amortized evenly over its estimated useful life of 5 years.Other accounting policies
Statutory Information
Mysquare Capital 6 Ltd is a company limited by shares, registered in [Not specified/Other]. The company’s registered number and registered office address can be found on the Company Information page.
Accounting Policies
Basis of preparing financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 101, "The Financial Reporting Standard applicable in the UK and Republic of Ireland," including the provisions of section IA "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax, and other sales taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is £0 and is being amortized evenly over its estimated useful life of nil years.
Intangible Assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortization and any accumulated impairment losses. Computer software is amortized evenly over its estimated useful life of 5 years.
Tangible Fixed Assets
Depreciation has been provided at the following annual rates to write off each asset over its estimated useful life:
Plant & Machinery: 20% on the reducing balance method
Motor Vehicles: 25% on the reducing balance method
Computer Equipment: 33% on the reducing balance method
Investments
Investment in subsidiary undertakings is recognized at cost.
Stocks
Stocks are valued at the lower of cost and net realizable value, after making due allowances for obsolete and slow-moving items.
Taxation
Taxation for the year comprises both current and deferred tax. Tax is recognized in the income statement, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognized 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 is recognized in respect of all timing differences that have originated but have not been reversed by the balance sheet date. The timing differences arise from the inclusion of income and expenses in the tax assessment in periods different from those in which they are recognized in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by year-end and that are expected to apply to the reversal of timing differences.
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.
Notes to the Financial Statements
for the Period Ended 28 February 2024
2. Employees
|
2024 |
Average number of employees during the period |
1
|
Notes to the Financial Statements
for the Period Ended 28 February 2024
3. Fixed investments
Fixed investments are initially recognized at cost.