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Registered number: 13652782
Squid Property Ltd
Financial Statements
For The Year Ended 30 September 2024
Clear Path Accountancy
Dormer House
44 Town Green Street
Rothley
Leicestershire
LE7 7NU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13652782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 240,226 153,801
240,226 153,801
CURRENT ASSETS
Cash at bank and in hand 5,307 25,300
5,307 25,300
Creditors: Amounts Falling Due Within One Year 5 (98,050 ) (87,959 )
NET CURRENT ASSETS (LIABILITIES) (92,743 ) (62,659 )
TOTAL ASSETS LESS CURRENT LIABILITIES 147,483 91,142
Creditors: Amounts Falling Due After More Than One Year 6 (180,237 ) (114,101 )
NET LIABILITIES (32,754 ) (22,959 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (32,854 ) (23,059 )
SHAREHOLDERS' FUNDS (32,754) (22,959)
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Page 2
For the year ending 30 September 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
Mr Simon Barrett
Director
31 January 2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Squid Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13652782 . The registered office is Dormer House, 44 Town Green Street, Rothley, Leicestershire, LE7 7NU.
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. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:  NIL (2023: NIL)
- -
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4. Tangible Assets
Investment Properties Computer Equipment Total
£ £ £
Cost
As at 1 October 2023 153,500 401 153,901
Additions 86,500 - 86,500
As at 30 September 2024 240,000 401 240,401
Depreciation
As at 1 October 2023 - 100 100
Provided during the period - 75 75
As at 30 September 2024 - 175 175
Net Book Value
As at 30 September 2024 240,000 226 240,226
As at 1 October 2023 153,500 301 153,801
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 1,026 979
Director's loan account 97,024 86,980
98,050 87,959
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 180,237 114,101
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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