Three Sixty Insure Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06624077 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Three Sixty Insure Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Cowen

J H Cowen

REGISTERED OFFICE:

Unit A7 Ashworth House Rear

Deakins Business Park, Egerton

Bolton

Lancashire

BL7 9RP

REGISTERED NUMBER:

06624077 (England and Wales)

ACCOUNTANTS:

N J Grindrod & Co Limited

The Old Post Office

128 Ramsden Road

Wardle

Rochdale

Lancashire

OL12 9NT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

13,494

13,929

13,494

13,929

CURRENT ASSETS

Debtors

73,334

54,642

Cash at bank and in hand

180,346

96,918

253,680

151,560

CREDITORS

Amounts falling due within one year

157,452

92,706

NET CURRENT ASSETS

96,228

58,854

TOTAL ASSETS LESS CURRENT LIABILITIES

109,722

72,783

PROVISIONS FOR LIABILITIES

2,564

2,385

NET ASSETS

107,158

70,398

CAPITAL AND RESERVES

Called up share capital

12,002

12,002

Retained earnings

95,156

58,396

SHAREHOLDERS' FUNDS

107,158

70,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2021 and were signed on its behalf by:

S J Cowen - Director

1.	STATUTORY INFORMATION

Three Sixty Insure Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer and office equipment

-

15% on reducing balance

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

and 31 December 2020

15,000

AMORTISATION

At 1 January 2020

and 31 December 2020

15,000

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

57,692

Additions

1,740

At 31 December 2020

59,432

DEPRECIATION

At 1 January 2020

43,763

Charge for year

2,175

At 31 December 2020

45,938

NET BOOK VALUE

At 31 December 2020

13,494

At 31 December 2019

13,929

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.20

31.12.19

£

£

Within one year

10,382

2,231

Between one and five years

11,367

14,360

21,749

16,591

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S J Cowen.