Registration number: 09602395

Squire Furnishings Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Squire Furnishings Limited

Company Information

Directors

A J Squires P H Squires

Registered office

The Avenue South End Hogsthorpe Skegness Lincolnshire PE24 5NE

Squire Furnishings Limited

(Registration number: 09602395)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	403,160	304,908
Current assets
Stocks	5	150,922	133,187
Debtors	6	10,681	28,758
Cash at bank and in hand		2,523	23,844
		164,126	185,789
Creditors: Amounts falling due within one year	7	(126,445)	(108,875)
Net current assets		37,681	76,914
Total assets less current liabilities		440,841	381,822
Creditors: Amounts falling due after more than one year	7	(125,327)	(148,410)
Provisions for liabilities		(11,796)	(5,736)
Net assets		303,718	227,676
Capital and reserves
Called up share capital		100	100
Revaluation reserve		164,861	97,050
Retained earnings		138,757	130,526
Shareholders' funds		303,718	227,676

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 May 2026 and signed on its behalf by:
 

......................................... A J Squires Director

Squire Furnishings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company, limited by share capital, incorporated in England and Wales and the company registration number is 09602395.

The address of its registered office is:
The Avenue South End
Hogsthorpe
Skegness
Lincolnshire
PE24 5NE

These financial statements were authorised for issue by the Board on 27 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Squire Furnishings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	No depreciation is being charged
Fixtures & Fittings	25% reducing balance basis
Motor vehicles	25% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 7 (2024 - 7).

Squire Furnishings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	295,000	13,525	27,073	335,598
Revaluations	100,000	-	-	100,000
Additions	-	899	-	899
At 31 August 2025	395,000	14,424	27,073	436,497
Depreciation
At 1 September 2024	-	10,226	20,464	30,690
Charge for the year	-	994	1,653	2,647
At 31 August 2025	-	11,220	22,117	33,337
Carrying amount
At 31 August 2025	395,000	3,204	4,956	403,160
At 31 August 2024	295,000	3,299	6,609	304,908

Included within the net book value of land and buildings above is £395,000 (2024 - £295,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the Company's Buildings was revalued on 10 January 2020 by an independant valuer Turner Evans Stevens Ltd.

Periodically properties are assessed by an independent valuer, the results of which are taken into consideration by the director in his annual assessment. All assets are subject to an independent professional valuation undertaken within a maximum limit of five years prior to the balance sheet date, and the vast majority of properties have been independently valued within the last 2-3 years.
For the current year, the director has assessed the market value of the properties, taking into account recent developments in the property sector together with rental income yields achieved.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £175,185 (2024 - £175,185).

5

Stocks

	2025 £	2024 £
Other inventories	150,922	133,187

6

Debtors

Current	2025 £	2024 £
Trade debtors	7,504	24,669
Prepayments	3,177	4,089
	10,681	28,758

Squire Furnishings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	44,225	40,774
Trade creditors		64,142	38,427
Taxation and social security		11,848	8,806
Accruals and deferred income		2,275	2,150
Other creditors		3,955	18,718
		126,445	108,875

Creditors also include bank loans of which are secured of £4,543 (2024- £4,543).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	125,327	148,410

Credeitors due after 1 year include bank loans which are secured of £115,291 (2024 - £120,040)

8	Loans and borrowings

	2025 £	2024 £
Non-current loans and borrowings
Bank borrowings	125,119	140,500
Other borrowings	208	7,910
	125,327	148,410

	2025 £	2024 £
Current loans and borrowings
Bank borrowings	15,176	15,175
Bank overdrafts	29,049	25,599
	44,225	40,774

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £51,750 (2024 - £86,250).