| REGISTERED NUMBER: |
| SQUIRES ENIGMA LTD |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2024 |
| REGISTERED NUMBER: |
| SQUIRES ENIGMA LTD |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2024 |
| SQUIRES ENIGMA LTD (REGISTERED NUMBER: SC604819) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 AUGUST 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| SQUIRES ENIGMA LTD (REGISTERED NUMBER: SC604819) |
| BALANCE SHEET |
| 30 AUGUST 2024 |
| 2024 | 2023 |
| as restated |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | 8,225 |
| SHAREHOLDERS' FUNDS | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| SQUIRES ENIGMA LTD (REGISTERED NUMBER: SC604819) |
| BALANCE SHEET - continued |
| 30 AUGUST 2024 |
| The financial statements were approved by the director and authorised for issue on |
| SQUIRES ENIGMA LTD (REGISTERED NUMBER: SC604819) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Squires Enigma Ltd is a private company, limited by shares, registered in Scotland. The company's registered office is 19 Lawmarnock Crescent, Bridge of Weir, Scotland, PA11 3AS. |
| The presentation currency of the financial statements is Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from the standard. The financial statements have been prepared under the historical cost convention modified for the revaluation of intangible assets. |
| Going concern |
| The financial statements have been prepared on a going concern basis. The validity of this is dependent on the continued support of the director who considers that it is appropriate to prepare the financial statements on a going concern basis. |
| Judgements |
| The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The director considers there are no such significant judgements. |
| Turnover |
| Turnover represents invoiced sales of services provided during the year, excluding value added tax. The company's policy is to recognise a sale when the services have been provided to the client. |
| Intangible assets |
| Intangible assets consist of crypto currency held by the company. They are accounted for as follows:- |
| (i) Initially recorded at cost which includes purchase cost and any directly attributable expenditure. |
| (ii) Thereafter, it is revalued at each balance sheet date to it's fair value, where this can be measured reliably. |
| (iii) Revaluation increases are recognised in other comprehensive income and accumulated in equity. Revaluation gains are taken to the profit or loss only to the extent that the gain reverses a revaluation decrease of the same asset that was previously recognised. Revaluation decreases are recognised in other comprehensive income to the extent of a surplus in respect of the asset. Any excess revaluation decrease is recognised in profit or loss. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment losses. |
| Impairment of non-financial assets |
| At each reporting date, non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss. |
| SQUIRES ENIGMA LTD (REGISTERED NUMBER: SC604819) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other accounts receivable and payable, and loans from related parties. |
| Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. |
| Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
| Taxation |
| Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
| With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense. |
| Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. |
| Provisions |
| Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SQUIRES ENIGMA LTD (REGISTERED NUMBER: SC604819) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 AUGUST 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST OR VALUATION |
| At 31 August 2023 |
| Revaluations |
| At 30 August 2024 |
| NET BOOK VALUE |
| At 30 August 2024 |
| At 30 August 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 31 August 2023 |
| and 30 August 2024 |
| DEPRECIATION |
| At 31 August 2023 |
| Charge for year |
| At 30 August 2024 |
| NET BOOK VALUE |
| At 30 August 2024 |
| At 30 August 2023 |
| Included above is £29,793 (2023: £37,242) carrying value of assets for which the company has pledged security. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Other debtors |
| SQUIRES ENIGMA LTD (REGISTERED NUMBER: SC604819) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 AUGUST 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Hire purchase contracts |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Hire purchase contracts | 11,208 | 18,245 |
| Hire purchase contract creditors are secured against the asset to which they relate. |
| 10. | RELATED PARTY DISCLOSURES |
| As at 30 August 2024, the director was owed £4,567 (2023: £118) from the company. This balance is unsecured, interest free and carries no fixed repayment terms. |