Square Pound Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07665065 (England and Wales)

SQUARE POUND LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L Higham

M M J R Sebastien

REGISTERED OFFICE:

3000 Lakeside Western Road

North Harbour

Portsmouth

Hants

PO6 3EN

REGISTERED NUMBER:

07665065 (England and Wales)

AUDITORS:

MC Audit Limited

Statutory Auditors

Lake House

2 Port Way

Port Solent

Portsmouth

Hampshire

PO6 4TY

CURRENT ASSETS

Debtors

4

7,671

7,959

Cash at bank

84,008

79,278

91,679

87,237

CREDITORS

Amounts falling due within one year

5

59,445

68,667

NET CURRENT ASSETS

32,234

18,570

TOTAL ASSETS LESS CURRENT
LIABILITIES

32,234

18,570

CAPITAL AND RESERVES

Called up share capital

6

100

Retained earnings

32,134

18,470

SHAREHOLDERS' FUNDS

32,234

18,570

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 30 July 2026 and were signed on its behalf by:

L Higham - Director

1.	STATUTORY INFORMATION

Square Pound 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.

The prinicpal activity of Square Pound Limited continued to be that of selling insurance policies of goods and services (excluding life insurance or investment).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern

The financial statements have been prepared on a going concern basis. The Company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate within the level of its facilities.

The directors have a reasonable expectation that the company has adequate resources to continue

in operational existence for the foreseeable future.

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:

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;

•

reliably; and the stage of completion of the contract at the end of the reporting period can be measured

•

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

Financial instruments

The Company has elected to apply the recognition and measurement provisions of IFRS 9 FinancialInstruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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 balance sheet date in the countries where the Company operates and generates income.

Foreign currencies

Functional and presentation currency

The Company's functional and presentational currency is Great British Pound Sterling.

Monetary amounts in these financial statements are rounded to the nearest pound.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Interest income

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

7,671

7,959

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amounts owed to group undertakings

52,209

51,315

Taxation and social security

-

8,212

Other creditors

7,236

9,140

59,445

68,667

Amounts owed to group undertakings are unsecured carries no interest and are repayable on demand.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

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

The Report of the Auditors was unqualified.

Paul Underwood (Senior Statutory Auditor)

for and on behalf of MC Audit Limited

8.	FUNDS HELD ON BEHALF OF UNDERWRITERS

The company operates bank accounts in respect of underwriting activities where it acts as an agent for insurers. The funds held within these accounts represent monies due to and from underwriters and policyholders and are not the assets of the company.

As the company acts purely as agent in relation to these arrangements, these balances have not been recognised within the company’s balance sheet. At the year end, the total funds held in these accounts amounted to £7,710 (2024: £7,625).

The company has no beneficial interest in these funds and they are held separately from the company’s own operating bank accounts.

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company is SPB UK & Ireland Ltd, a company registered in England. Group accounts are prepared and can be obtained on request from the registered office. The registered address is 3000 Lakeside North Harbour, Western Road, Portsmouth, Hampshire, England, PO6 3EN.