360 Accountants Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07028912 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

360 Accountants Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A M Steele FCCA, FCA

Miss S Holmes ACA ACCA

Mrs L Steele

REGISTERED OFFICE:

18-19 Albion Street

Hull

East Yorkshire

HU1 3TG

REGISTERED NUMBER:

07028912 (England and Wales)

ACCOUNTANTS:

360 Accountants Limited

18-19 Albion Street

Hull

East Yorkshire

HU1 3TG

BANKERS:

Handelsbanken

Marina Court

18 Castle Street

Hull

East Yorkshire

HU1 1TJ

FIXED ASSETS

Intangible assets

4

66,738

100,108

Tangible assets

5

661,047

663,670

Investments

6

51

61

727,836

763,839

CURRENT ASSETS

Stocks

64,195

68,315

Debtors

230,028

241,646

Cash at bank and in hand

10

17,465

294,233

327,426

CREDITORS

Amounts falling due within one year

531,958

597,979

NET CURRENT LIABILITIES

(237,725

)

(270,553

)

TOTAL ASSETS LESS CURRENT LIABILITIES

490,111

493,286

CREDITORS

Amounts falling due after more than one year

(270,600

)

(355,186

)

ACCRUALS AND DEFERRED INCOME

(68,535

)

(68,535

)

NET ASSETS

150,976

69,565

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

150,876

69,465

SHAREHOLDERS' FUNDS

150,976

69,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 2022 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 27 September 2023 and were signed on its behalf by:

Mr A M Steele FCCA, FCA - Director

1.	STATUTORY INFORMATION

360 Accountants 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.

Group accounts

Under the Companies Act 2006, the group are not required to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

33% on cost, 25% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2011 and 2019, is being amortized evenly over it's estimated useful life of ten years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2021 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

and 31 December 2022

211,103

AMORTISATION

At 1 January 2022

110,995

Amortisation for year

33,370

At 31 December 2022

144,365

NET BOOK VALUE

At 31 December 2022

66,738

At 31 December 2021

100,108

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

747,930

Additions

3,841

Disposals

(2,750

)

At 31 December 2022

749,021

DEPRECIATION

At 1 January 2022

84,260

Charge for year

6,418

Eliminated on disposal

(2,704

)

At 31 December 2022

87,974

NET BOOK VALUE

At 31 December 2022

661,047

At 31 December 2021

663,670

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2022

61

Additions

50

Disposals

(60

)

At 31 December 2022

51

NET BOOK VALUE

At 31 December 2022

51

At 31 December 2021

61

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/22

31/12/21

£

£

Bank loans

317,231

197,948

The bank loans are secured by way of a debenture and a charge over the company's freehold property.

One of the other loans is secured by a second charge over 18 Albion Street.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/22

31/12/21

value:

£

£

100

Ordinary

£1

100

100

9.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors the ultimate controlling party is Mr A M Steele.