3squared Ltd. - Accounts to registrar (filleted) - small 18.2
3squared Ltd. - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| FOR |
| 3SQUARED LTD. |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 June 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| 3SQUARED LTD. |
| COMPANY INFORMATION |
| for the year ended 30 June 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| BALANCE SHEET |
| 30 June 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| BALANCE SHEET - continued |
| 30 June 2021 |
| 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 |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 June 2021 |
| 1. | STATUTORY INFORMATION |
| 3squared Ltd. is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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. |
| Tangible fixed assets |
| Office equipment | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Government grants |
| Grants relating to expenditure on tangible fixed assets are credited to the Statement of Income and |
| Retained Earnings at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2021 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill | Trademark | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2020 |
| and 30 June 2021 |
| AMORTISATION |
| At 1 July 2020 |
| Amortisation for year |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| Office | to | Plant and |
| equipment | property | machinery |
| £ | £ | £ |
| COST |
| At 1 July 2020 |
| Additions |
| Disposals |
| At 30 June 2021 |
| DEPRECIATION |
| At 1 July 2020 |
| Charge for year |
| Eliminated on disposal |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2021 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2020 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2021 |
| DEPRECIATION |
| At 1 July 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2021 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2021 | 2020 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Bank Loans are secured by way of a fixed and floating charge over the company assets. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| A Ordinary | £0.01 | 50 | 50 |
| B Ordinary | £0.01 | 50 | 50 |
| 100 | 100 |
| 12. | 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 £11,015 (2020: £9,971) were payable to the fund at the Balance Sheet date and are included in creditors. |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 June 2021 and 30 June 2020: |
| 2021 | 2020 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 3SQUARED LTD. (REGISTERED NUMBER: 07207988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2021 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest is charged on amounts advanced to directors at 2.5%. The loans are repayable on demand. |
| 14. | POST BALANCE SHEET EVENTS |
| On 20 October 2021 the parent company, 3Squared Holdings Ltd was acquired by EPM Transport Solutions Ltd |