Silverfin false false 31/10/2024 01/11/2023 31/10/2024 E Kay 15/11/2007 A Redhouse 15/11/2007 09 July 2025 The principal activity of the company continued to be that of estate agents. 04918061 2024-10-31 04918061 bus:Director1 2024-10-31 04918061 bus:Director2 2024-10-31 04918061 2023-10-31 04918061 core:CurrentFinancialInstruments 2024-10-31 04918061 core:CurrentFinancialInstruments 2023-10-31 04918061 core:ShareCapital 2024-10-31 04918061 core:ShareCapital 2023-10-31 04918061 core:SharePremium 2024-10-31 04918061 core:SharePremium 2023-10-31 04918061 core:CapitalRedemptionReserve 2024-10-31 04918061 core:CapitalRedemptionReserve 2023-10-31 04918061 core:RetainedEarningsAccumulatedLosses 2024-10-31 04918061 core:RetainedEarningsAccumulatedLosses 2023-10-31 04918061 core:Goodwill 2023-10-31 04918061 core:Goodwill 2024-10-31 04918061 core:LeaseholdImprovements 2023-10-31 04918061 core:FurnitureFittings 2023-10-31 04918061 core:LeaseholdImprovements 2024-10-31 04918061 core:FurnitureFittings 2024-10-31 04918061 2022-10-31 04918061 core:AcceleratedTaxDepreciationDeferredTax 2024-10-31 04918061 core:AcceleratedTaxDepreciationDeferredTax 2023-10-31 04918061 bus:OrdinaryShareClass1 2024-10-31 04918061 bus:OrdinaryShareClass2 2024-10-31 04918061 bus:OrdinaryShareClass3 2024-10-31 04918061 bus:OrdinaryShareClass4 2024-10-31 04918061 bus:PreferenceShareClass1 2024-10-31 04918061 2023-11-01 2024-10-31 04918061 bus:FilletedAccounts 2023-11-01 2024-10-31 04918061 bus:SmallEntities 2023-11-01 2024-10-31 04918061 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 04918061 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04918061 bus:Director1 2023-11-01 2024-10-31 04918061 bus:Director2 2023-11-01 2024-10-31 04918061 core:Goodwill core:TopRangeValue 2023-11-01 2024-10-31 04918061 core:Goodwill 2023-11-01 2024-10-31 04918061 core:LeaseholdImprovements 2023-11-01 2024-10-31 04918061 core:FurnitureFittings 2023-11-01 2024-10-31 04918061 2022-11-01 2023-10-31 04918061 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 04918061 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 04918061 bus:OrdinaryShareClass2 2023-11-01 2024-10-31 04918061 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 04918061 bus:OrdinaryShareClass3 2023-11-01 2024-10-31 04918061 bus:OrdinaryShareClass3 2022-11-01 2023-10-31 04918061 bus:OrdinaryShareClass4 2023-11-01 2024-10-31 04918061 bus:OrdinaryShareClass4 2022-11-01 2023-10-31 04918061 bus:PreferenceShareClass1 2023-11-01 2024-10-31 04918061 bus:PreferenceShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04918061 (England and Wales)

SQUIRES ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

SQUIRES ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

SQUIRES ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
SQUIRES ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 11,721
Tangible assets 4 69,251 75,174
69,251 86,895
Current assets
Debtors 5 97,865 116,115
Cash at bank and in hand 392,662 314,498
490,527 430,613
Creditors: amounts falling due within one year 6 ( 230,841) ( 208,687)
Net current assets 259,686 221,926
Total assets less current liabilities 328,937 308,821
Provision for liabilities 7 ( 16,189) ( 17,460)
Net assets 312,748 291,361
Capital and reserves
Called-up share capital 8 666 666
Share premium account 22,491 22,491
Capital redemption reserve 666 666
Profit and loss account 288,925 267,538
Total shareholders' funds 312,748 291,361

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Squires Estates Limited (registered number: 04918061) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

E Kay
Director

09 July 2025

SQUIRES ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
SQUIRES ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Squires Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 3 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 3 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 15 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 25 22

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 November 2023 213,535 213,535
At 31 October 2024 213,535 213,535
Accumulated amortisation
At 01 November 2023 201,814 201,814
Charge for the financial year 11,721 11,721
At 31 October 2024 213,535 213,535
Net book value
At 31 October 2024 0 0
At 31 October 2023 11,721 11,721

4. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Total
£ £ £
Cost
At 01 November 2023 165,553 197,968 363,521
Additions 0 11,296 11,296
Disposals 0 ( 619) ( 619)
At 31 October 2024 165,553 208,645 374,198
Accumulated depreciation
At 01 November 2023 136,809 151,538 288,347
Charge for the financial year 4,312 12,849 17,161
Disposals 0 ( 561) ( 561)
At 31 October 2024 141,121 163,826 304,947
Net book value
At 31 October 2024 24,432 44,819 69,251
At 31 October 2023 28,744 46,430 75,174

5. Debtors

2024 2023
£ £
Trade debtors 30,855 35,158
Prepayments 32,227 25,747
Other debtors 34,783 55,210
97,865 116,115

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 23,458 23,800
Accruals 3,614 3,774
Taxation and social security 197,576 173,582
Other creditors 6,193 7,531
230,841 208,687

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 17,460) ( 17,774)
Credited to the Profit and Loss Account 1,271 314
At the end of financial year ( 16,189) ( 17,460)

The deferred taxation balance is made up as follows:

2024 2023
£ £
Accelerated capital allowances ( 16,189) ( 17,460)

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
167 Ordinary A shares of £ 1.00 each 167 167
166 Ordinary B shares of £ 1.00 each 166 166
167 Ordinary C shares of £ 1.00 each 167 167
166 Ordinary D shares of £ 1.00 each 166 166
666 666
666 Premium preference shares of £ 34.77 each 23,157 23,157
23,823 23,823

9. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 3,174 2,970

10. Leases

2024 2023
£ £
Operating leases 106,667 140,167

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
Within one year 33,500 33,500
Between one and five years 73,167 106,667
106,667 140,167