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Company No: 13401274 (England and Wales)

TSQUARED HOLDINGS LTD

Unaudited Financial Statements
For the financial period ended 31 May 2024
Pages for filing with the registrar

TSQUARED HOLDINGS LTD

Unaudited Financial Statements

For the financial period ended 31 May 2024

Contents

TSQUARED HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
TSQUARED HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 451,728 706,699
Tangible assets 4 5,964 7,312
457,692 714,011
Current assets
Cash at bank and in hand 7,567 6,249
7,567 6,249
Creditors: amounts falling due within one year 5 ( 557,033) ( 660,209)
Net current liabilities (549,466) (653,960)
Total assets less current liabilities (91,774) 60,051
Net (liabilities)/assets ( 91,774) 60,051
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 91,874 ) 59,951
Total shareholders' (deficit)/funds ( 91,774) 60,051

For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tsquared Holdings Ltd (registered number: 13401274) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Toby Ryan Styles
Director

23 February 2025

TSQUARED HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 May 2024
TSQUARED HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Tsquared Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received in the normal course of business, and consists of interest revenue. Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the period, including directors 3 3

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 June 2023 1,133,607 1,133,607
Additions 5,825,507 5,825,507
Disposals ( 5,928,564) ( 5,928,564)
At 31 May 2024 1,030,550 1,030,550
Accumulated amortisation
At 01 June 2023 426,908 426,908
Impairment losses 151,914 151,914
At 31 May 2024 578,822 578,822
Net book value
At 31 May 2024 451,728 451,728
At 31 May 2023 706,699 706,699

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2023 11,013 11,013
Additions 1,499 1,499
At 31 May 2024 12,512 12,512
Accumulated depreciation
At 01 June 2023 3,701 3,701
Charge for the financial period 2,847 2,847
At 31 May 2024 6,548 6,548
Net book value
At 31 May 2024 5,964 5,964
At 31 May 2023 7,312 7,312

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 106 106
Taxation and social security 44,939 118,189
Other creditors 511,988 541,914
557,033 660,209

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Other creditors 507,788 537,714

Included within other creditors is an amount of £507,788 (2022: £537,714) owed to the company's directors. The balances were unsecured, interest-free and repayable on demand.