REGISTERED NUMBER: 07207988 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

3SQUARED LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J Hewitt

C A Wilson

REGISTERED OFFICE:

20 Harris Business Park

Hanbury Road

Stoke Prior

Bromsgrove

Worcestershire

B60 4DJ

REGISTERED NUMBER:

07207988 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Intangible assets

4

4,007

753

Tangible assets

5

54,609

201,883

58,616

202,636

CURRENT ASSETS

Debtors

6

4,106,720

3,447,697

Cash at bank

349,563

418,478

4,456,283

3,866,175

CREDITORS

Amounts falling due within one year

7

2,856,950

2,165,941

NET CURRENT ASSETS

1,599,333

1,700,234

TOTAL ASSETS LESS CURRENT LIABILITIES

1,657,949

1,902,870

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

1,657,849

1,902,770

SHAREHOLDERS' FUNDS

1,657,949

1,902,870

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 26 September 2025 and were signed on its behalf by:

C A Wilson - Director

1.	STATUTORY INFORMATION

3squared Ltd. 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.

Significant judgements and estimates

The following judgements have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Rendering of services

Revenue from Software Development services is recognised by reference to the stage of completion at the balance sheet date. The stage of completion is measured by reference to the number of staff hours required to complete the contract which is estimated by management.

Estimation is required in determining an appropriate number of staff hours required to complete a contract. The staff hours are based on managements best estimate after considering works performed to the year end date.

Turnover

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

* the Company has transferred the significant risks and rewards of ownership to the buyer;

* 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 Company will receive the consideration due under the transaction; and

* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

* the amount of revenue can be measured reliably;

* it is probable that the Company will receive the consideration due under the contract;

* the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

* the costs incurred and the costs to complete the contract can be measured reliably

Stage of completion is measured by reference to the number of staff hours required to complete the contract.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademark are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Office equipment

-

at variable rates on reducing balance

Improvements to property

-

10% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the un-discounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 40 (2023 - 53 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

Trademark

software

Totals

£

£

£

£

COST

At 1 January 2024

20,000

4,100

-

24,100

Additions

-

-

3,714

3,714

At 31 December 2024

20,000

4,100

3,714

27,814

AMORTISATION

At 1 January 2024

20,000

3,347

-

23,347

Amortisation for year

-

460

-

460

At 31 December 2024

20,000

3,807

-

23,807

NET BOOK VALUE

At 31 December 2024

-

293

3,714

4,007

At 31 December 2023

-

753

-

753

5.	TANGIBLE FIXED ASSETS

Improvements

Office

to

Plant and

equipment

property

machinery

£

£

£

COST

At 1 January 2024

30,510

84,515

108,230

Additions

-

-

-

Disposals

-

-

-

Impairments

(30,510

)

(84,515

)

(108,230

)

At 31 December 2024

-

-

-

DEPRECIATION

At 1 January 2024

23,198

29,358

53,714

Charge for year

2,416

7,316

5,008

Eliminated on disposal

-

-

-

Impairments

(25,614

)

(36,674

)

(58,722

)

At 31 December 2024

-

-

-

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

7,312

55,157

54,516

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

61,723

343,036

628,014

Additions

1,655

136

1,791

Disposals

(7,861

)

-

(7,861

)

Impairments

(55,517

)

-

(278,772

)

At 31 December 2024

-

343,172

343,172

DEPRECIATION

At 1 January 2024

34,114

285,747

426,131

Charge for year

-

2,816

17,556

Eliminated on disposal

(5,677

)

-

(5,677

)

Impairments

(28,437

)

-

(149,447

)

At 31 December 2024

-

288,563

288,563

NET BOOK VALUE

At 31 December 2024

-

54,609

54,609

At 31 December 2023

27,609

57,289

201,883

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

165,774

454,946

Amounts owed by group undertakings

3,405,113

2,587,336

Amounts recoverable on contract

181,498

4,449

Other debtors

8,653

2,665

Tax

120,374

58,860

Deferred tax asset

98,165

168,454

Prepayments and accrued income

127,143

170,987

4,106,720

3,447,697

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

137,490

237,883

Amounts owed to group undertakings

1,204,408

479,408

Social security and other taxes

236,784

235,486

Other creditors

1,761

13,704

Accruals and deferred income

1,276,507

1,199,460

2,856,950

2,165,941

8.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

22,046

129,773

Between one and five years

-

21,421

22,046

151,194

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank Loans are secured by way of a fixed and floating charge over the company assets.

10.	DEFERRED TAX

£

Balance at 1 January 2024

(168,454

)

Provided during year

70,289

Accelerated capital allowances

Tax losses

Pension surplus

Balance at 31 December 2024

(98,165

)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

5,000

A Ordinary

£0.01

50

50

5,000

B Ordinary

£0.01

50

50

100

100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford FCA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

13.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £NILl (2023: £NIL) were payable to the fund at the Balance Sheet date and are included in creditors.

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Interest is charged on amounts advanced to directors at 2.5%.

No transactions or balances were written off in the period.