Company Registration No. 12172238 (England and Wales)
Threesixty Holdco 2 Limited
Unaudited accounts
for the year ended 31 December 2021
Threesixty Holdco 2 Limited
Unaudited accounts
Contents
Threesixty Holdco 2 Limited
Company Information
for the year ended 31 December 2021
Directors
Simon Ling
Caroline Ling
Peter Raybould
Helene Raybould
John Whitfield
Elizabeth Whitfield
Company Number
12172238 (England and Wales)
Registered Office
Pen Cutting Tools, Bold Street
Attercliffe
Sheffield
South Yorkshire
S9 2LR
United Kingdom
Threesixty Holdco 2 Limited
Statement of financial position
as at 31 December 2021
Investment property
680,000
680,000
Cash at bank and in hand
10,224
19,463
Creditors: amounts falling due within one year
(369,783)
(104,695)
Net current assets
97,655
348,968
Total assets less current liabilities
815,117
1,066,376
Creditors: amounts falling due after more than one year
(47,900)
(348,750)
Provisions for liabilities
Deferred tax
(39,551)
(126,069)
Net assets
727,666
591,557
Called up share capital
3
3
Profit and loss account
727,663
591,554
Shareholders' funds
727,666
591,557
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by
Simon Ling
Director
Company Registration No. 12172238
Threesixty Holdco 2 Limited
Notes to the Accounts
for the year ended 31 December 2021
Threesixty Holdco 2 Limited is a private company, limited by shares, registered in England and Wales, registration number 12172238. The registered office is Pen Cutting Tools, Bold Street, Attercliffe, Sheffield, South Yorkshire, S9 2LR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate enacted at the balance sheet date.
Investments in shares are included at cost less impairment.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Threesixty Holdco 2 Limited
Notes to the Accounts
for the year ended 31 December 2021
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Fair value at 1 January 2021
680,000
At 31 December 2021
680,000
5
Investments
Subsidiary undertakings
Valuation at 1 January 2021
37,408
Valuation at 31 December 2021
37,462
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
7,200
14,400
Amounts due from group undertakings etc.
430,014
419,800
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
348,750
45,000
Taxes and social security
11,632
6,045
Included within bank loans and overdrafts is a bank loan of £348,750 (2020: £45,000), secured against the property to which it relates.
8
Creditors: amounts falling due after more than one year
2021
2020
Aggregate of amounts that fall due for payment after five years
-
123,750
The bank loan of £Nil (2020: £348,750) is secured against the property to which it relates.
Threesixty Holdco 2 Limited
Notes to the Accounts
for the year ended 31 December 2021
9
Transactions with related parties
During the period, the following related party transactions occurred:
The company received rental income of £72,000 (2020: £44,000) from Pen Cutting Tools Limited (a wholly-owned subsidiary).
The company received dividends of £Nil (2020: £53,887) from Pen Cutting Holdings Limited (a wholly-owned subsidiary).
At the balance sheet date, an amount of £419,800 (2020: £419,800) was owed to the company by Pen Cutting Holdings Limited (a wholly-owned subsidiary). There are no fixed terms for repayment. This amount is included within 'Debtors'.
At the balance sheet date, an amount of £10,214 (2020: £Nil) was owed to the company by Threesixty Logistics Training and Recruitment Limited (one of its subsidiaries). There are no fixed terms for repayment. This amount is included within 'Debtors'.
Within 'Other creditors' (Creditors: amounts falling due within one year) is an amount of £Nil (2020: £43,000) owed by the company to Threesixty Holdco 1 Limited (a company related by common control). There were no fixed terms for repayment.
Within 'Other creditors' (Creditors: amounts falling due beyond one year) is an amount of £47,900 (2020: £Nil) owed by the company to Threesixty Investments Limited (a company related by common control). There were no fixed terms for repayment.
10
Average number of employees
During the year the average number of employees was 6 (2020: 6).