360 Accountants Limited - Accounts to registrar (filleted) - small 17.3

360 Accountants Limited - Accounts to registrar (filleted) - small 17.3

360 ACCOUNTANTS LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v17.3.1.106 07028912 Board of Directors Board of Directors 1.1.17 31.12.17 31.12.17 true false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure070289122016-12-31070289122017-12-31070289122017-01-012017-12-31070289122015-12-31070289122016-01-012016-12-31070289122016-12-3107028912ns15:EnglandWales2017-01-012017-12-3107028912ns14:PoundSterling2017-01-012017-12-3107028912ns10:Director12017-01-012017-12-3107028912ns10:Director22017-01-012017-12-3107028912ns10:PrivateLimitedCompanyLtd2017-01-012017-12-3107028912ns10:SmallEntities2017-01-012017-12-3107028912ns10:AuditExempt-NoAccountantsReport2017-01-012017-12-3107028912ns10:SmallCompaniesRegimeForAccounts2017-01-012017-12-3107028912ns10:AbridgedAccounts2017-01-012017-12-310702891212017-01-012017-12-3107028912ns10:Director32017-01-012017-12-3107028912ns10:RegisteredOffice2017-01-012017-12-3107028912ns5:CurrentFinancialInstruments2017-12-3107028912ns5:CurrentFinancialInstruments2016-12-3107028912ns5:Non-currentFinancialInstruments2017-12-3107028912ns5:Non-currentFinancialInstruments2016-12-3107028912ns5:ShareCapital2017-12-3107028912ns5:ShareCapital2016-12-3107028912ns5:RetainedEarningsAccumulatedLosses2017-12-3107028912ns5:RetainedEarningsAccumulatedLosses2016-12-3107028912ns5:NetGoodwill2017-01-012017-12-3107028912ns5:IntangibleAssetsOtherThanGoodwill2017-01-012017-12-3107028912ns5:ComputerSoftware2017-01-012017-12-3107028912ns5:PlantMachinery2017-01-012017-12-3107028912ns5:Secured2017-12-3107028912ns5:Secured2016-12-31


REGISTERED NUMBER: 07028912 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2017

for

360 Accountants Limited
360 Accountants Limited (Registered number: 07028912)






Contents of the Financial Statements
for the Year Ended 31 December 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


360 Accountants Limited

Company Information
for the Year Ended 31 December 2017







DIRECTORS: Mr A M Steele FCCA, FCA
Mr A K Jewitt ACA
Mr H Walsh





REGISTERED OFFICE: 19 Albion Street
Hull
East Yorkshire
HU1 3TG





REGISTERED NUMBER: 07028912 (England and Wales)





ACCOUNTANTS: 360 Accountants Limited
19 Albion Street
Hull
East Yorkshire
HU1 3TG
Page 1
360 Accountants Limited (Registered number: 07028912)

Abridged Balance Sheet
31 December 2017

31/12/17 31/12/16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,921 13,227
Tangible assets 5 398,326 382,458
Investments 6 61 61
408,308 395,746

CURRENT ASSETS
Stocks 136,861 129,835
Debtors 108,095 51,799
Cash at bank and in hand 96 169
245,052 181,803
CREDITORS
Amounts falling due within one year 266,693 223,852
NET CURRENT LIABILITIES (21,641 ) (42,049 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
386,667
353,697

CREDITORS
Amounts falling due after more than one
year
7
(286,205
)
(218,088
)

ACCRUALS AND DEFERRED INCOME (42,000 ) (42,000 )
NET ASSETS 58,462 93,609

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 58,461 93,608
SHAREHOLDERS' FUNDS 58,462 93,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 notes form part of these financial statements

Page 2 continued...
360 Accountants Limited (Registered number: 07028912)

Abridged Balance Sheet - continued
31 December 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2017 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 on 9 February 2018 and were signed on its behalf by:




Mr A M Steele FCCA, FCA - Director



Mr A K Jewitt ACA - Director


The notes form part of these financial statements

Page 3
360 Accountants Limited (Registered number: 07028912)

Notes to the Financial Statements
for the Year Ended 31 December 2017

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 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. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, 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.

Computer software is being amortised evenly over its estimated useful life of three years.

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 - 25% 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.

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.


Page 4 continued...
360 Accountants Limited (Registered number: 07028912)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. ACCOUNTING POLICIES - continued
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.

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 21 (2016 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2017
and 31 December 2017 36,853
AMORTISATION
At 1 January 2017 23,626
Amortisation for year 3,306
At 31 December 2017 26,932
NET BOOK VALUE

At 31 December 2017 9,921
At 31 December 2016 13,227

Page 5 continued...
360 Accountants Limited (Registered number: 07028912)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2017 395,053
Additions 19,559
At 31 December 2017 414,612
DEPRECIATION
At 1 January 2017 12,595
Charge for year 3,691
At 31 December 2017 16,286
NET BOOK VALUE
At 31 December 2017 398,326
At 31 December 2016 382,458

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2017
and 31 December 2017 61
NET BOOK VALUE
At 31 December 2017 61
At 31 December 2016 61

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31/12/17 31/12/16
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 176,434 12,165

8. SECURED DEBTS

The following secured debts are included within creditors:

31/12/17 31/12/16
£    £   
Bank loans 308,159 193,457

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

9. ULTIMATE CONTROLLING PARTY

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

Page 6