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COMPANY REGISTRATION NUMBER: 05952403
One Square Investments Limited
Filleted Unaudited Financial Statements
31 March 2024
One Square Investments Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
One Square Investments Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
6
125,454
125,454
Current assets
Debtors
7
3,005,897
3,496,327
Cash at bank and in hand
72,431
1,352,307
------------
------------
3,078,328
4,848,634
Creditors: amounts falling due within one year
8
5,588,021
5,375,657
------------
------------
Net current liabilities
2,509,693
527,023
------------
---------
Total assets less current liabilities
( 2,384,239)
( 401,569)
Creditors: amounts falling due after more than one year
9
1,330,000
------------
------------
Net liabilities
( 2,384,239)
( 1,731,569)
------------
------------
Capital and reserves
Called up share capital
4,348
4,348
Profit and loss account
( 2,388,587)
( 1,735,917)
------------
------------
Shareholder deficit
( 2,384,239)
( 1,731,569)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
One Square Investments Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr V Latincic
Director
Company registration number: 05952403
One Square Investments Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Battersea Square, Battersea Square, London, SW11 3RZ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit and loss.
Going concern
The directors have considered the basis of the preparation of the accounts and are satisfied that the accounts should be prepared on a going concern basis.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The total number of people employed by the company amounted to 2 (2023: 2)
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 April 2023 and 31 March 2024
52,380
52,380
--------
--------
Depreciation
At 1 April 2023 and 31 March 2024
52,380
52,380
--------
--------
Carrying amount
At 31 March 2024
--------
--------
At 31 March 2023
--------
--------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
125,454
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
125,454
---------
At 31 March 2023
125,454
---------
7. Debtors
2024
2023
£
£
Trade debtors
33,012
34,542
Other debtors
2,972,885
3,461,785
------------
------------
3,005,897
3,496,327
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
38,922
8,655
Social security and other taxes
5,457
Other creditors
5,543,642
5,367,002
------------
------------
5,588,021
5,375,657
------------
------------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,330,000
----
------------
The company has a fixed charge over all of its assets.
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
84,000
84,000
Later than 1 year and not later than 5 years
336,000
336,000
Later than 5 years
280,000
364,000
---------
---------
700,000
784,000
---------
---------
11. Related party transactions
At the year end, the company owed £11,819 (2023: £11,819) to a group company. At the year end, the Director was owed £128,000 (2023: £nil) by the company.