Company Registration No. 14516183 (England and Wales)
Square One Homes Limited
Unaudited accounts
for the year ended 30 November 2024
Square One Homes Limited
Unaudited accounts
Contents
Square One Homes Limited
Company Information
for the year ended 30 November 2024
Directors
Nathan Peter Hawkes
Basharat Jarrar Ali Rana
Company Number
14516183 (England and Wales)
Registered Office
Wychwood House
14 Hanborough Business Park
Long Hanborough
Witney
OX29 8LH
United Kingdom
Accountants
M.A. Skyrme Associates
Lothlorien
Quarry Hollow
Headington
Oxford
OX3 8JR
Square One Homes Limited
Statement of financial position
as at 30 November 2024
Investment property
626,667
223,855
Cash at bank and in hand
44,849
6,366
Creditors: amounts falling due within one year
(122,928)
(63,428)
Net current liabilities
(78,079)
(57,062)
Total assets less current liabilities
548,588
166,793
Creditors: amounts falling due after more than one year
(578,458)
(179,832)
Net liabilities
(29,870)
(13,039)
Called up share capital
2
2
Profit and loss account
(29,872)
(13,041)
Shareholders' funds
(29,870)
(13,039)
For the year ending 30 November 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2025 and were signed on its behalf by
Basharat Jarrar Ali Rana
Director
Company Registration No. 14516183
Square One Homes Limited
Notes to the Accounts
for the year ended 30 November 2024
Square One Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 14516183. The registered office is Wychwood House, 14 Hanborough Business Park, Long Hanborough, Witney, OX29 8LH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
• the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Square One Homes Limited
Notes to the Accounts
for the year ended 30 November 2024
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.
No depreciation is provided in respect of investment properties.
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Fair value at 1 December 2023
223,855
At 30 November 2024
626,667
5
Creditors: amounts falling due within one year
2024
2023
Loans from directors
122,078
62,778
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
556,125
157,500
Other creditors
22,333
22,332
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).