Square Mile Business Services Limited - Accounts to registrar (filleted) - small 23.2.5
Square Mile Business Services Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28th February 2023 |
| for |
| Square Mile Business Services Limited |
| Square Mile Business Services Limited (Registered number: 04675506) |
| Contents of the Financial Statements |
| for the Year Ended 28th February 2023 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Square Mile Business Services Limited (Registered number: 04675506) |
| Balance Sheet |
| 28th February 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 9 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| Square Mile Business Services Limited (Registered number: 04675506) |
| Balance Sheet - continued |
| 28th February 2023 |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Square Mile Business Services Limited (Registered number: 04675506) |
| Notes to the Financial Statements |
| for the Year Ended 28th February 2023 |
| 1. | STATUTORY INFORMATION |
| Square Mile Business Services Limited is a |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
| Turnover |
| Turnover represents the total rent receivable for the year. |
| Investment property |
| Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Square Mile Business Services Limited (Registered number: 04675506) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28th February 2023 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st March 2022 |
| and 28th February 2023 |
| NET BOOK VALUE |
| At 28th February 2023 |
| At 28th February 2022 |
| Fair value at 28th February 2023 is represented by: |
| £ |
| Valuation in 2015 | 191,527 |
| Valuation in 2016 | 25,000 |
| Valuation in 2017 | 25,000 |
| Cost | 158,473 |
| 400,000 |
| If The investment property had not been revalued it would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 158,473 | 158,473 |
| The investment property was valued on a fair value basis on 28th February 2023 by the director . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other creditors |
| Square Mile Business Services Limited (Registered number: 04675506) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28th February 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Other loans |
| The loan is secured by a fixed first legal charge over the company's investment property. |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1st March 2022 |
| Deferred tax | (9,557 | ) |
| At 28th February 2023 |