Square Book Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: SC553691

		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		580,923		580,923
Tangible Assets	5		5,326		7,566
Investments	6		50,002		50,003

			636,251		638,492
CURRENT ASSETS
Debtors	7	3,652,466		3,744,177
Cash at bank and in hand		5,029		8,920

		3,657,495		3,753,097
Creditors: Amounts Falling Due Within One Year	8	(483,653 )		(559,382 )

NET CURRENT ASSETS (LIABILITIES)			3,173,842		3,193,715

TOTAL ASSETS LESS CURRENT LIABILITIES			3,810,093		3,832,207

NET ASSETS			3,810,093		3,832,207

CAPITAL AND RESERVES
Called up share capital	9		4,410		4,321
Share premium account			5,582,385		5,227,257
Other reserves			914		914
Profit and Loss Account			(1,777,616 )		(1,400,285 )

SHAREHOLDERS' FUNDS			3,810,093		3,832,207

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Square Book Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr J Sluys

Director

01/10/2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Square Book Limited is a private company, limited by shares, incorporated in Scotland, registered number SC553691 . The registered office is 25a Thistle Street South West Lane, Edinburgh, EH2 1EW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company is the parent of a small group and is exempt under section 399(2A) of the Companies Act 2006 from preparing consolidated financial statements. These financial statements present information about the company as an individual entity. Investments in subsidiaries are measured at cost less impairment

2.2. Going Concern Disclosure

The company made a loss of £377,331 for the year and has not generated income since 2023. At 31 December 2024 its liabilities falling due within one year were £483,653, including amounts due to HMRC and loans from investors. The directors are working with the company’s creditors and lenders to agree the timing of payments, and are developing a replacement platform from which they expect the company to resume generating income.

The directors have a reasonable expectation that these arrangements, together with the continued support of the company’s lenders and shareholders, will enable the company to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements, and they have therefore prepared the financial statements on a going concern basis. However, the agreements with creditors are not yet concluded and the timing of future income is uncertain. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

2.3. Research and Development

Development costs incurred in respect of clearly defined projects whose outcome can be assessed with reasonable certainty are capitalised as intangible fixed assets where they are separately identifiable. Intangible assets are internally generated and stated at cost, less accumulated amortisation. Amortisation is recognised on a straight-line basis at 33% per annum from the date that the relevant asset is fully operating.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	20% straight line on cost.
Computer Equipment	20% straight line on cost.

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Square Book Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 9)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 January 2024	580,923

As at 31 December 2024	580,923

Net Book Value
As at 31 December 2024	580,923

As at 1 January 2024	580,923

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	2,648	14,196	16,844

As at 31 December 2024	2,648	14,196	16,844

Depreciation
As at 1 January 2024	2,648	6,630	9,278
Provided during the period	-	2,240	2,240

As at 31 December 2024	2,648	8,870	11,518

...CONTINUED

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Square Book Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	-	5,326	5,326

As at 1 January 2024	-	7,566	7,566

6. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2024	50,003

As at 31 December 2024	50,003

Provision
As at 1 January 2024	-
Impairment losses	1

As at 31 December 2024	1

Net Book Value
As at 31 December 2024	50,002

As at 1 January 2024	50,003

7. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Trade debtors	-	22,000
Amounts owed by group undertakings	15,161	305,894
Other debtors	3,637,305	3,416,283

	3,652,466	3,744,177

8. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Trade creditors	127,270	117,902
Bank loans and overdrafts	17,542	20,381
Other loans	224,980	343,592
Amounts owed to group undertakings	-	20,061
Other creditors	66,976	10,561
Taxation and social security	46,885	46,885

	483,653	559,382

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Square Book Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Share Capital

	31 December 2024	31 December 2023
	£	£
Called Up Share Capital not Paid	145	145
Called Up Share Capital has been paid up	4,265	4,176

Amount of Allotted, Called Up Share Capital	4,410	4,321

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Joseph Sluys	128	5,486	(39,481 )	-	(33,867 )

The above loan is unsecured, interest free and repayable on demand.

11. Impairment of investment in subsidiary

Administrative expenses include an impairment charge of £305,895 (2023: £nil) in respect of amounts owed by, and the investment in, SB Software Solutions Ltd, a subsidiary which entered liquidation during the year.

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