REGISTERED NUMBER: 10279503 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

SQUAD DANCEWEAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A C Ashby

Mrs M C Griffiths

REGISTERED OFFICE:

36 Alston Drive

Bradwell Abbey

Milton Keynes

Buckinghamshire

MK13 9HA

REGISTERED NUMBER:

10279503 (England and Wales)

ACCOUNTANTS:

Camfield Chapman Lowe

9a High Street

Woburn Sands

Milton Keynes

Buckinghamshire

MK17 8RF

FIXED ASSETS

Tangible assets

4

71,356

17,361

CURRENT ASSETS

Stocks

196,570

93,351

Debtors

5

107,029

17,268

Cash at bank and in hand

136,538

62,600

440,137

173,219

CREDITORS

Amounts falling due within one year

6

222,405

123,162

NET CURRENT ASSETS

217,732

50,057

TOTAL ASSETS LESS CURRENT LIABILITIES

289,088

67,418

CREDITORS

Amounts falling due after more than one year

7

(122,031

)

(3,402

)

PROVISIONS FOR LIABILITIES

(4,696

)

(3,504

)

NET ASSETS

162,361

60,512

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

162,351

60,502

162,361

60,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd September 2025 and were signed on its behalf by:

Mrs M C Griffiths - Director

1.	STATUTORY INFORMATION

Squad Dancewear Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1st January 2024

-

19,346

10,994

30,340

Additions

54,200

17,221

3,073

74,494

At 31st December 2024

54,200

36,567

14,067

104,834

DEPRECIATION

At 1st January 2024

-

8,869

4,110

12,979

Charge for year

9,266

7,811

3,422

20,499

At 31st December 2024

9,266

16,680

7,532

33,478

NET BOOK VALUE

At 31st December 2024

44,934

19,887

6,535

71,356

At 31st December 2023

-

10,477

6,884

17,361

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

68,988

4,000

Other debtors

38,041

13,268

107,029

17,268

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

16,647

1,921

Trade creditors

116,415

81,361

Taxation and social security

68,572

32,481

Other creditors

20,771

7,399

222,405

123,162

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

122,031

3,402

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

55,444

-

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

46,082

9,015

Between one and five years

60,728

-

106,810

9,015