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Registered Number: 13092404
England and Wales

 

 

 


Report of the Directors and Unaudited Financial Statements

for the year ended 31 December 2024

for

SQUIRREL INTERNET LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets
Intangible fixed assets 2 19,128    8,940 
Tangible fixed assets 3 184,286    69,374 
203,414    78,314 
Current assets
Debtors 4 29,075    8,327 
Cash at bank and in hand 23,412    6,109 
52,487    14,436 
Creditors: amount falling due within one year 5 (160,420)   (141,257)
Net current assets/(liabilities) (107,933)   (126,821)
 
Total assets less current liabilities 95,481    (48,507)
Creditors: amount falling due after more than one year 6 (92,216)   (21,916)
Net assets/(liabilities) 3,265    (70,423)
 

Capital and reserves
Called up share capital 2    2 
Profit and loss account 7 3,263    (70,425)
Shareholders fund 3,265    (70,423)
 
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.
Signed on behalf of the board of directors:


----------------------------------
Daniel Beyzade
Director

Date approved: 25 February 2025
1
Statutory Information
SQUIRREL INTERNET LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 13092404, registration address Office 3 1e Uppingham Gate, Uppingham, Oakham, Rutland, LE15 9NY, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Customer Premises Equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Datacentre Equipment4 Years Straight Line
Customer Premises equipment3 Years Straight Line
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 15 years.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
2.

Intangible fixed assets

Cost or Valuation Computer software   Total
  £   £
At 01 January 2024 9,921    9,921 
Additions 10,882    10,882 
At 31 December 2024 20,803    20,803 
Amortisation
At 01 January 2024 981    981 
Charge for year 694    694 
At 31 December 2024 1,675    1,675 
Net book values
At 31 December 2024 19,128    19,128 
At 31 December 2023 8,940    8,940 

3.

Tangible fixed assets

Cost or Valuation Datacentre Equipment   Customer Premises equipment   Total
  £   £   £
At 01 January 2024 18,589    91,820    110,409 
Additions 1,800    149,897    151,697 
At 31 December 2024 20,389    241,717    262,106 
Depreciation
At 01 January 2024 4,938    36,097    41,035 
Charge for year 4,648    32,137    36,785 
At 31 December 2024 9,586    68,234    77,820 
Net book values
Closing balance as at 31 December 2024 10,803    173,483    184,286 
Opening balance as at 01 January 2024 13,651    55,723    69,374 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade debtors 13,468    2,204 
Direct Debit Reconcillation 2,340   
Accruals 11,235    2,266 
Prepayments (2,442)   (13)
Vat 4,474    3,870 
29,075    8,327 
5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade creditors 137,928    108,136 
Accrued expenses   479 
Other creditors 149    151 
Rounding  
Wages & salaries control account 131   
Director Loan Account - Daniel Beyzade 9,128    20,718 
Director Loan Account - Andrew Dowsett 11,839    11,589 
Social security & other tax 1,245    184 
160,420    141,257 
6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
iWoca Loan Account 74,847   
Funding circle loan 5,738    10,285 
Hire purchase loan 11,631    11,631 
92,216    21,916 
7.

Profit and loss account

  2024
£
Balance at 01 January 2024 (70,425)
Profit for the year 73,688 
Balance at 31 December 2024 3,263 

8.

Average number of employees

Average number of employees during the year were 2 (2023: 1).
2