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Registered number: 09096262
Square Mile Accounting Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Square Mile Accounting Limited
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09096262
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 63,353 70,694
Tangible Assets 5 88,015 103,209
151,368 173,903
CURRENT ASSETS
Debtors 6 249,635 164,902
Cash at bank and in hand 14,482 45,532
264,117 210,434
Creditors: Amounts Falling Due Within One Year 7 (347,743 ) (212,115 )
NET CURRENT ASSETS (LIABILITIES) (83,626 ) (1,681 )
TOTAL ASSETS LESS CURRENT LIABILITIES 67,742 172,222
Creditors: Amounts Falling Due After More Than One Year 8 (44,609 ) (107,402 )
NET ASSETS 23,133 64,820
CAPITAL AND RESERVES
Called up share capital 10 95 106
Profit and Loss Account 23,038 64,714
SHAREHOLDERS' FUNDS 23,133 64,820
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
D A Gormer
Director
12th May 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Square Mile Accounting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09096262 . The registered office is Arquen House, 4-6 Spicer Street, St. Albans, AL3 4PQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & Machinery 25% on cost
Motor Vehicles 20% on reducing balance
Computer Equipment 25% on cost
2.5. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.
2.8. Pensions
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. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 15)
12 15
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4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 73,409
As at 30 June 2024 73,409
Amortisation
As at 1 July 2023 2,715
Provided during the period 7,341
As at 30 June 2024 10,056
Net Book Value
As at 30 June 2024 63,353
As at 1 July 2023 70,694
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 37,125 90,335 44,106 171,566
Additions - - 167 167
Disposals (20,388 ) - (16,416 ) (36,804 )
As at 30 June 2024 16,737 90,335 27,857 134,929
Depreciation
As at 1 July 2023 25,175 15,236 27,946 68,357
Provided during the period 2,199 7,525 5,636 15,360
Disposals (20,388 ) - (16,415 ) (36,803 )
As at 30 June 2024 6,986 22,761 17,167 46,914
Net Book Value
As at 30 June 2024 9,751 67,574 10,690 88,015
As at 1 July 2023 11,950 75,099 16,160 103,209
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,245 30,932
Prepayments and accrued income 66,905 77,948
Other debtors 35,088 56,022
Director's loan account 98,078 -
232,316 164,902
Due after more than one year
Corporation tax recoverable assets 17,319 -
249,635 164,902
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 44,672 13,219
Trade creditors 35,213 22,995
Bank loans and overdrafts 22,510 34,000
Corporation tax 140,571 80,711
Other taxes and social security 10,421 13,271
VAT 37,313 45,383
Pensions Payable 1,710 2,536
Other creditors. 39,833 -
Accruals and deferred income 15,500 -
347,743 212,115
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 42,719
Bank loans 44,609 64,683
44,609 107,402
The finance leases are secured on the assets concerned.
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 44,672 13,219
Later than one year and not later than five years - 42,719
44,672 55,938
44,672 55,938
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 95 106
During the year, the Company repurchased 50,000 D Ordinary Shares for £59,750 from distributable reserves.  The shares were subsequently cancelled.  The company also repurchased 52,632 Vn Shares for a total of £5.26 from distributable reserves which were subsequently cancelled.
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr David Gormer - 98,078 - - 98,078
The above loan was charged at a rate of 2.25%.
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12. Related Party Transactions
The company has taken advantage of the exemption under paragraph 33.1A of Financial Reporting Standard 102 not to disclose transactions with other wholly owned subsidiaries of the company.  During the year a loan of £27,264 was extended to Alemso Ltd which is owned by the director.
13. Ultimate Controlling Party
The director is considered to be the ultimate controlling party by virtue of their majority shareholding.
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