Registered number
SC777896
SQUARE SC LTD
434 Cathcart Road
Glasgow
Filleted Accounts
for the period from 3 August 2023 to 31 August 2024
Yousaf & Co Ltd
Chartered Certified Accountants
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: S576/TG
SQUARE SC LTD
Registered number: SC777896
Balance Sheet
as at 31 August 2024
Notes
£
Fixed assets
Tangible assets 3 1,701
Current assets
Cash at bank and in hand 9,693
Creditors: amounts falling due within one year 4 (1,322)
Net current assets 8,371
Total assets less current liabilities 10,072
Creditors: amounts falling due after more than one year 5 (9,090)
Net assets 982
Capital and reserves
Called up share capital 1
Profit and loss account 981
Shareholders' funds 982
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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.
Mohammed Zubair Inwar
Director
Approved by the board on 24 February 2025
SQUARE SC LTD
Notes to the Accounts
for the period from 3 August 2023 to 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures, fittings, tools and equipment 10% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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.
2 Employees
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Office Equipment
£
Cost
Additions 1,890
At 31 August 2024 1,890
Depreciation
Charge for the period 189
At 31 August 2024 189
Net book value
At 31 August 2024 1,701
4 Creditors: amounts falling due within one year
£
Taxation and social security costs 195
Other creditors 1,127
1,322
5 Creditors: amounts falling due after one year
£
Directors loan account 9,090
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