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REGISTERED NUMBER: SC370184 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Science Squared Limited

Science Squared Limited (Registered number: SC370184)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Science Squared Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: N Oswald
F Oswald





REGISTERED OFFICE: Drumsheugh Toll
2 Belford Road
Edinburgh
EH4 3BL





REGISTERED NUMBER: SC370184 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Science Squared Limited (Registered number: SC370184)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 8,928 12,100

CURRENT ASSETS
Debtors 5 151,542 247,346
Cash at bank - 8,315
151,542 255,661
CREDITORS
Amounts falling due within one year 6 101,567 175,907
NET CURRENT ASSETS 49,975 79,754
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,903

91,854

CREDITORS
Amounts falling due after more than one year 7 (55,838 ) (86,152 )

PROVISIONS FOR LIABILITIES (2,233 ) (3,025 )
NET ASSETS 832 2,677

CAPITAL AND RESERVES
Called up share capital 11 11
Retained earnings 821 2,666
832 2,677

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 9 April 2025 and were signed on its behalf by:




N Oswald - Director


Science Squared Limited (Registered number: SC370184)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Science Squared Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipments - 20% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors receivable within one year, typically trade receivables, are measured initially andsubsequently at the undiscounted amount of the cash or other consideration expected to be received.

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 16 (2023 - 16 ) .

Science Squared Limited (Registered number: SC370184)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Computer
equipments
£   
COST
At 1 January 2024 25,716
Additions 1,124
At 31 December 2024 26,840
DEPRECIATION
At 1 January 2024 13,616
Charge for year 4,296
At 31 December 2024 17,912
NET BOOK VALUE
At 31 December 2024 8,928
At 31 December 2023 12,100

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 143,003 232,289
Other debtors 540 10,562
Prepayments and accrued income 7,999 4,495
151,542 247,346

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts (see note 8) 45,524 52,335
Trade creditors 1,441 3,977
Tax 18,644 19,871
Social security and other taxes 6,547 6,507
VAT 2,240 18,586
Other creditors 16,164 6,687
Directors' current accounts 2,907 6,182
Accruals & Deferred Income 8,100 61,762
101,567 175,907

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans (see note 8) 55,838 86,152

Science Squared Limited (Registered number: SC370184)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 12,108 18,488
Bank loans 33,416 33,847
45,524 52,335

Amounts falling due between two and five years:
Bank loans - 2-5 years 55,838 86,152

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £64,216 (2023 - £89,963) were paid to the directors .