REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ONE SQUARE ADVISORS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ONE SQUARE ADVISORS LIMITED |
ONE SQUARE ADVISORS LIMITED (REGISTERED NUMBER: 07058999) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
ONE SQUARE ADVISORS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants |
Statutory Auditor |
264 Banbury Road |
Oxford |
OX2 7DY |
ONE SQUARE ADVISORS LIMITED (REGISTERED NUMBER: 07058999) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
2023 | 2022 |
as restated |
Notes | € | € | € | € |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
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 | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
ONE SQUARE ADVISORS LIMITED (REGISTERED NUMBER: 07058999) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
One Square Advisors Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experiences and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Financial instruments |
Financial Instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the Instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statement, when there is a legally 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 Income Statement, 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 statement of financial position date. |
ONE SQUARE ADVISORS LIMITED (REGISTERED NUMBER: 07058999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 |
ONE SQUARE ADVISORS LIMITED (REGISTERED NUMBER: 07058999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
€ | € | € | € |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
Exchange differences |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
Exchange differences |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
€ |
COST |
At 1 January 2023 |
Exchange differences |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Exchange differences |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Hire purchase agreements are secured by the assets to which they relate. |
ONE SQUARE ADVISORS LIMITED (REGISTERED NUMBER: 07058999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
€ | € |
Trade debtors |
Other debtors |
Tax |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
€ | € |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
as restated |
€ | € |
Hire purchase contracts |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | as restated |
€ | € |
Ordinary | £1 | 116,426 | 114,055 |
Any movement in share capital values year on year are solely down to the differing exchange rates used at the year end to present the accounts. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
ONE SQUARE ADVISORS LIMITED (REGISTERED NUMBER: 07058999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | OTHER FINANCIAL COMMITMENTS |
The lease agreement for rent gives a minimum notice period of three months. Lease commitment €18,630 (2022: €18,251). |
11. | RELATED PARTY DISCLOSURES |
The following balances existed with related parties at 31 December 2023; |
Amounts owed by One Square Advisors GmbH in respect of fees receivable, included in trade debtors- €381,599 (2022: €299,494). |
The following transactions took place in the year with related parties; |
Fees received from parent company - €630,633 (2022: €712,774) |
Included in Other creditors is the balance of NIL (2022: €87,600) owed to One Square Treuhand GmbH. |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
13. | PRESENTATION CURRENCY |
The accounts are presented in Euros because the parent company is registered in Germany and presents its' accounts in that currency. The functional currency of the company is Sterling. The closing rate used at the year end to convert the assets and liabilities into Euro was 1.1528. The average rate used at the year end to convert the statement of profit or loss into Euro was 1.1495. Resulting exchange differences are recognised as other comprehensive income. |
14. | NON-DISTRIBUTABLE RESERVES |
Reserves includes non-distributable reserves of £10,707 from the presentational currency translation. |
15. | PRIOR YEAR ADJUSTMENT |
In preparing the financial statements for the year ended 31/12/2023 it was identified that bonus accruals were omitted from 2022 and 2021 financial statements. |
The impact of this was accruals were understated by €112,861 and €273,734 at 31/12/2022 and 31/12/2021 respectively. In restating the cost of sales increased in 31/12/2022 and 31/12/2021. |
The impact of this was Retained Earnings have been overstated in prior years. The comparatives including the brought forward Retained Earnings from 2021 have been restated accordingly. |