SETSQUARE PROPERTIES LTD


Directors	DOBSON, Yvonne Louise
	THOMAS, Richard Gavin


Registered Address	1st Floor, Units 3 & 4 Cranmere Court Lustleigh Close
	Matford Business Park
	Exeter
	EX2 8PW


Registered Number	11879250 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		5,693		16,553
Investment property	4		751,044		725,000
			756,737		741,553
Current assets
Debtors	5	2,858		6,419
Cash at bank and on hand		22,854		1,383
		25,712		7,802
Creditors amounts falling due within one year	6	(343,946)		(309,178)
Net current assets (liabilities)			(318,234)		(301,376)
Total assets less current liabilities			438,503		440,177
Creditors amounts falling due after one year	7		(523,840)		(523,839)
Net assets			(85,337)		(83,662)
Capital and reserves
Called up share capital			1,000		1
Profit and loss account			(86,337)		(83,663)
Shareholders' funds			(85,337)		(83,662)

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 24 December 2025, and are signed on its behalf by:

THOMAS, Richard Gavin
Director
Registered Company No. 11879250

SETSQUARE PROPERTIES LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Fixtures and fittings	4

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 April 24	43,440	43,440
At 31 March 25	43,440	43,440
Depreciation and impairment
At 01 April 24	26,887	26,887
Charge for year	10,860	10,860
At 31 March 25	37,747	37,747
Net book value
At 31 March 25	5,693	5,693
At 31 March 24	16,553	16,553

4.	Investment property
	Investment properties valuation represents property at cost £832,227 (2024: £806,183) and revaluations £(81,183) (2024: £(81,183))


		£
	Fair value at 01 April 24	725,000
	Additions	26,044
	At 31 March 25	751,044

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	2,843	1,516
Prepayments and accrued income	15	-
Deferred tax asset, debtors	-	4,903
Total	2,858	6,419

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	-	755
Amounts owed to related parties	334,722	297,792
Other creditors	6,490	7,013
Accrued liabilities and deferred income	2,734	3,618
Total	343,946	309,178

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	523,840	523,839
Total	523,840	523,839


	Loans are secured by way of fixed charges over the company's investment properties.

8.	Provisions for liabilities

9.	Share capital
	Authorised and issued share capital was issued for cash, increasing from £1 as reported in 2024 to £1,000.

10.	Related party transactions
	Included in Other Creditors are balances with Directors and related companies as described below: Directors loan accounts for Mr R G Thomas and Ms Y Dobson, totalling £264,522 (2024: £234,592). During the year advances of £48,147 (2024: £1,357) were made, and withdrawals totalled £18,218 (2024: £9,419) Setsquare Consulting Limited, a company in which Mr R G Thomas is also a director: £70,200 (2024: £63,200) All loans and directors accounts are interest free with no set repayment terms.

10.

Related party transactions

Included in Other Creditors are balances with Directors and related companies as described below:

Directors loan accounts for Mr R G Thomas and Ms Y Dobson, totalling £264,522 (2024: £234,592). During the year advances of £48,147 (2024: £1,357) were made, and withdrawals totalled £18,218 (2024: £9,419)

Setsquare Consulting Limited, a company in which Mr R G Thomas is also a director: £70,200 (2024: £63,200)

All loans and directors accounts are interest free with no set repayment terms.