Company registration number 07737337 (England and Wales)
SQUIRE ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
SQUIRE ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SQUIRE ESTATES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
889,416
889,416
Current assets
Stocks
1,170,578
1,129,679
Debtors
4
16,124,838
16,197,711
17,295,416
17,327,390
Creditors: amounts falling due within one year
5
(5,836,525)
(5,570,224)
Net current assets
11,458,891
11,757,166
Total assets less current liabilities
12,348,307
12,646,582
Creditors: amounts falling due after more than one year
6
(12,500)
(22,500)
Net assets
12,335,807
12,624,082
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
12,335,805
12,624,080
Total equity
12,335,807
12,624,082

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 August 2025 and are signed on its behalf by:
Kamal Pankhania
Director
Company registration number 07737337 (England and Wales)
SQUIRE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Squire Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Churchill Court Station Road, North Harrow, Harrow, England, HA2 7SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.3
Borrowing costs related to property

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

1.4
Stocks

Stocks of properties for resale are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition, including directly attributable finance costs.

 

At the reporting date, an assessment is made for impairment.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand & deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

SQUIRE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from companies under common control 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. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0

 

SQUIRE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
3
Investment property
2024
£
Fair value
At 1 September 2023 and 31 August 2024
889,416

The fair value has been arrived on the basis of valuation carried out by the directors at 31 August 2024. The valuation was made on an open market value basis by reference to the market evidence of transaction prices for similar properties.

 

If the revalued investment property was stated on a historical cost basis rather than a fair value basis, the amount would have been £396,863 (2023: £396,863).

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,752
8,624
Corporation tax recoverable
4,926
10,309
Other debtors
16,095,619
16,172,046
Prepayments and accrued income
12,541
6,732
16,124,838
16,197,711
5
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans & overdaft
10,000
10,000
Other borrowings
3,389,228
3,314,181
Trade creditors
27,250
8,790
Other creditors
1,882,388
1,719,094
Accruals and deferred income
527,659
518,159
5,836,525
5,570,224
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
12,500
22,500

 

SQUIRE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
7
Related party transactions

Included in other creditors are expenses totalling £16,135 (2023: £4,892) incurred by the company on behalf of a partnership business in which one of the directors is a partner.

 

Also in the year, the partnership business charged management fees of £35,944 (2023: £10,305) to the company.

 

8
Financial commitments

All of the company's properties are secured on a bank borrowing taken by a connected company.

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