Registration number:
Square One London & Kent
for the Period from 9 August 2023 to 31 August 2024
Square One London & Kent
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Square One London & Kent
Company Information
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Director |
Sam Waterman |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Square One London & Kent
for the Period Ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Square One London & Kent for the period ended 31 August 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Square One London & Kent, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Square One London & Kent and state those matters that we have agreed to state to the Board of Directors of Square One London & Kent, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Square One London & Kent and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Square One London & Kent has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Square One London & Kent. You consider that Square One London & Kent is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Square One London & Kent. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Bromley
Kent
BR1 3QD
Square One London & Kent
(Registration number: 15060905)
Balance Sheet as at 31 August 2024
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Note |
2024 |
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Fixed Assets |
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Tangible Assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Net liabilities |
( |
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Capital and Reserves |
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Called up share capital |
10 |
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Retained Earnings |
(5,024) |
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Shareholders' deficit |
(5,014) |
For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Square One London & Kent
Statement of Changes in Equity for the Period from 9 August 2023 to 31 August 2024
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Share capital |
Retained Earnings |
Total |
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Loss for the period |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 August 2024 |
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( |
( |
Square One London & Kent
Notes to the Unaudited Financial Statements for the Period from 9 August 2023 to 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible Assets
Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Square One London & Kent
Notes to the Unaudited Financial Statements for the Period from 9 August 2023 to 31 August 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
20% straight line |
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Plant and machinery |
20% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade Debtors
Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade Creditors
Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Square One London & Kent
Notes to the Unaudited Financial Statements for the Period from 9 August 2023 to 31 August 2024
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Square One London & Kent
Notes to the Unaudited Financial Statements for the Period from 9 August 2023 to 31 August 2024
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Tangible Assets |
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Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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Additions |
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At 31 August 2024 |
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Depreciation |
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Charge for the period |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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Debtors |
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Current |
2024 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade Creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Square One London & Kent
Notes to the Unaudited Financial Statements for the Period from 9 August 2023 to 31 August 2024
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Share capital |
Allotted, called up and fully paid shares
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2024 |
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No. |
£ |
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10 |
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Related party transactions |
Square One London & Kent
Notes to the Unaudited Financial Statements for the Period from 9 August 2023 to 31 August 2024
Director's remuneration
The director's remuneration for the period was as follows:
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2024 |
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Remuneration |
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