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Registration number: 13382095

One Ldn 360 Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

One Ldn 360 Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

One Ldn 360 Limited

(Registration number: 13382095)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

6,500

8,250

Tangible assets

5

821,347

1,065,106

 

827,847

1,073,356

Current assets

 

Debtors

6

29,216

15,150

Cash at bank and in hand

 

5,421

10,640

 

34,637

25,790

Creditors: Amounts falling due within one year

7

(1,284,236)

(1,263,147)

Net current liabilities

 

(1,249,599)

(1,237,357)

Net liabilities

 

(421,752)

(164,001)

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

(421,852)

(164,101)

Shareholders' deficit

 

(421,752)

(164,001)

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 October 2023
 

.........................................
E Koroleva
Director

 

One Ldn 360 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3rd Floor
Lawford House
Albert Place
London
N3 1QA
United Kingdom

These financial statements were authorised for issue by the director on 13 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Disclosure of long or short period

The previous financial statements were prepared for the period from incorporation on 7 May 2021 to 31 May 2022. Therefore the comparative amounts presented in the annual financial statements are not entirely comparable.

Going concern

The financial statements have been prepared on a going concern basis, dependent on the director's continuing financial support.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

One Ldn 360 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25 % Straight line

Leasehold improvement

6 years - lease term

Plant and machinery

25 % Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 % Straight line

Website & Domain

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

One Ldn 360 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2022 - 13).

 

One Ldn 360 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 June 2022

5,000

5,000

10,000

At 31 May 2023

5,000

5,000

10,000

Amortisation

At 1 June 2022

500

1,250

1,750

Amortisation charge

500

1,250

1,750

At 31 May 2023

1,000

2,500

3,500

Carrying amount

At 31 May 2023

4,000

2,500

6,500

At 31 May 2022

4,500

3,750

8,250

5

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 June 2022

70,900

1,131,499

-

1,202,399

Additions

60,026

-

3,415

63,441

At 31 May 2023

130,926

1,131,499

3,415

1,265,840

Depreciation

At 1 June 2022

11,816

125,477

-

137,293

Charge for the year

23,822

282,874

504

307,200

At 31 May 2023

35,638

408,351

504

444,493

Carrying amount

At 31 May 2023

95,288

723,148

2,911

821,347

At 31 May 2022

59,084

1,006,022

-

1,065,106

Included within the net book value of land and buildings above is £95,288 (2022 - £59,084) in respect of short leasehold land and buildings.
 

 

One Ldn 360 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

14,616

8,020

Prepayments

14,600

7,130

 

29,216

15,150

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

73,250

59,043

Taxation and social security

17,517

13,397

Accruals and deferred income

4,000

49,500

Other creditors

1,189,469

1,141,207

1,284,236

1,263,147

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,245,417 (2022 - £1,363,712).

10

Related party transactions

Included in other creditors is an amount of £1,187,846 (2022: £1,141,083) owed to the director. The loan is provided interest-free and is unsecured. There are no formal terms and conditions.