Registered number
01577579
Squires Clark Sharples & Co. Limited
Report and Accounts
31 January 2025
Squires Clark Sharples & Co. Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Squires Clark Sharples & Co. Limited for the year ended 31 January 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Squires Clark Sharples & Co. Limited for the year ended 31 January 2025 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
This report is made solely to the Board of Directors of Squires Clark Sharples & Co. Limited, as a body, in accordance with the terms of our engagement letter dated 20 April 2022. Our work has been undertaken solely to prepare for your approval the accounts of Squires Clark Sharples & Co. Limited and state those matters that we have agreed to state to the Board of Directors of Squires Clark Sharples & Co. Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Squires Clark Sharples & Co. Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Squires Clark Sharples & Co. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Squires Clark Sharples & Co. Limited. You consider that Squires Clark Sharples & Co. Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Squires Clark Sharples & Co. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Hicks and Company
Chartered Accountants
99 Bancroft
Hitchin
Hertfordshire
SG5 1NQ
9 February 2025
Squires Clark Sharples & Co. Limited
Registered number: 01577579
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Current assets
Cash at bank and in hand 81 81
Net current assets 81 81
Total assets less current liabilities 81 81
Creditors: amounts falling due after more than one year 3 (50) (50)
Net assets 31 31
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (969) (969)
Shareholders' funds 31 31
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 480 of the Companies Act 2006 relating to dormant Companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B. H. R. Squires Esq.
Director
Approved by the board on 9 February 2025
Squires Clark Sharples & Co. Limited
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover represents net commissions receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Creditors: amounts falling due after one year 2025 2024
£ £
Other creditors 50 50
4 Other information
Squires Clark Sharples & Co. Limited is a private company limited by shares and incorporated in England. Its registered office is:
First Floor
99 Bancroft
Hitchin
Hertfordshire
SG5 1NQ
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