ACCOUNTS - Final Accounts

Registered number: 13926260

SQUATWOLF LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

SQUATWOLF LIMITED

REGISTERED NUMBER: 13926260

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	12,955		42,818
Cash at bank and in hand		3,358		63,525
		16,313		106,343
Creditors: amounts falling due within one year	6	(48,599)		(102,834)
Net current (liabilities)/assets			(32,286)		3,509
Total assets less current liabilities			(32,286)		3,509

Net (liabilities)/assets			(32,286)		3,509

Capital and reserves
Called up share capital	100	100
Profit and loss account	(32,386)	3,409
	(32,286)	3,509

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 September 2025.

W G Memon

Director

The notes on pages 2 to 5 form part of these financial statements.

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SQUATWOLF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Squatwolf Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The company shows net liabilities at the reporting date of £32,286. After reviewing the Company's forecasts and projections, the director considers that the Company has adequate resources, and the continued support of its parent company, to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The presentational currency of the company is Sterling. The functional currencies of the company
are Sterling and Emirati Dirham.

Transactions and balances

Transactions in currencies other than the functional currency of the company are recorded at the rate of exchange on the date the transaction occurred; for practical reasons, the company uses a rate that approximates the exchange rates at the dates of the transactions which is calculated as the average rate for the period. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period.

At the reporting date income and expenses for each period and assets and liabilities as at each reporting date are translated into the functional currency using the average rate for each period and the closing rate as at the reporting date respectively.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover comprises revenue recognised by the company in respect of the sale of sports clothing &
shoes during the year. Revenue is recognised at the point of delivery where payments are made and
the ownership of the goods are transferred to the customer.

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SQUATWOLF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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SQUATWOLF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Financial instruments (continued)

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Judgments in applying accounting policies and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the year end based on invoices received after the reporting date and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

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SQUATWOLF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	8,888	38,843
Other debtors	4,067	3,975
	12,955	42,818

Amounts owed by group undertakings are repayable on demand.The loan was provided an annual rate of 13.1% in line with the Squatwolf Group weighted average cost of capital

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	2,659	233
Amounts owed to group undertakings	35,708	90,357
Corporation tax	-	859
Other taxation and social security	-	940
Accruals and deferred income	10,232	10,445
	48,599	102,834

Amounts owed to group undertakings are repayable on demand.The loan was provided an annual rate of 13.1% in line with the Squatwolf Group weighted average cost of capital

7.	Related party transactions
	The company is exempt from disclosing related party transactions with companies that are wholly owned within the group. The company has not entered into any other transactions with related parties that are material and that have not been concluded under normal market conditions.

8.	Controlling party

The company's immediate parent and its the ultimate controlling party is Squatwolf Holdings Limited, a company incorporated in United Arab Emirates. The company's registered number is 000008191.

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 15 September 2025 by Anthony Pins (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

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