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REGISTERED NUMBER: 08057152 (England and Wales)

















Square Newsagent Limited

Financial Statements

for the Year Ended 31 May 2024






Square Newsagent Limited (Registered number: 08057152)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Square Newsagent Limited

Company Information
for the year ended 31 May 2024







DIRECTORS: Y H Shterev
Mrs B Erten



SECRETARY: Y H Shterev



REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX



REGISTERED NUMBER: 08057152 (England and Wales)



ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX



BANKERS: HSBC Bank plc
PO Box 10
59 Old Christchurch Road
Bournemouth
Dorset
BH1 1EH

Square Newsagent Limited (Registered number: 08057152)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 28,134 31,651
Tangible assets 5 3,596 1,915
31,730 33,566

CURRENT ASSETS
Stocks 51,750 56,500
Debtors 6 9,388 9,459
Cash at bank and in hand 39,714 64,557
100,852 130,516
CREDITORS
Amounts falling due within one year 7 104,728 120,605
NET CURRENT (LIABILITIES)/ASSETS (3,876 ) 9,911
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,854

43,477

CREDITORS
Amounts falling due after more than one
year

8

(10,506

)

(20,752

)

PROVISIONS FOR LIABILITIES (683 ) (364 )
NET ASSETS 16,665 22,361

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 16,565 22,261
SHAREHOLDERS' FUNDS 16,665 22,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 6 February 2025 and were signed on its behalf by:





Y H Shterev - Director


Square Newsagent Limited (Registered number: 08057152)

Notes to the Financial Statements
for the year ended 31 May 2024


1. STATUTORY INFORMATION

Square Newsagent Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings, equipment - 15% on reducing balance

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

Square Newsagent Limited (Registered number: 08057152)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 70,335
AMORTISATION
At 1 June 2023 38,684
Charge for year 3,517
At 31 May 2024 42,201
NET BOOK VALUE
At 31 May 2024 28,134
At 31 May 2023 31,651

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings,
equipment
£   
COST
At 1 June 2023 6,778
Additions 2,082
At 31 May 2024 8,860
DEPRECIATION
At 1 June 2023 4,863
Charge for year 401
At 31 May 2024 5,264
NET BOOK VALUE
At 31 May 2024 3,596
At 31 May 2023 1,915

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 9,388 9,459

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,247 9,994
Trade creditors 214 6,273
Taxation and social security 1,690 3,658
Other creditors 92,577 100,680
104,728 120,605

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,506 20,752

9. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments totalling £55,208.