3o Limited 04934923 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is the provision of supply chain management and purchasing consortia services. Digita Accounts Production Advanced 6.30.9574.0 true true true 04934923 2022-01-01 2022-12-31 04934923 2022-12-31 04934923 bus:OrdinaryShareClass1 2022-12-31 04934923 bus:Original 2022-12-31 04934923 core:CurrentFinancialInstruments 2022-12-31 04934923 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04934923 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 04934923 core:FurnitureFittingsToolsEquipment 2022-12-31 04934923 bus:SmallEntities 2022-01-01 2022-12-31 04934923 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 04934923 bus:FullAccounts 2022-01-01 2022-12-31 04934923 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 04934923 bus:RegisteredOffice 2022-01-01 2022-12-31 04934923 bus:CompanySecretaryDirector1 2022-01-01 2022-12-31 04934923 bus:Director1 2022-01-01 2022-12-31 04934923 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 04934923 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 04934923 core:ComputerEquipment 2022-01-01 2022-12-31 04934923 core:FurnitureFittings 2022-01-01 2022-12-31 04934923 core:FurnitureFittingsToolsEquipment 2022-01-01 2022-12-31 04934923 1 2022-01-01 2022-12-31 04934923 countries:England 2022-01-01 2022-12-31 04934923 2021-12-31 04934923 core:FurnitureFittingsToolsEquipment 2021-12-31 04934923 2021-01-01 2021-12-31 04934923 2021-12-31 04934923 bus:OrdinaryShareClass1 2021-12-31 04934923 core:CurrentFinancialInstruments 2021-12-31 04934923 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 04934923 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 04934923 core:FurnitureFittingsToolsEquipment 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04934923

3o Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2022

 

3o Limited

Contents

Company Information

1

Directors' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 9

 

3o Limited

Company Information

Directors

Mr Dominic James Limbrey

Mrs Chai Lin Limbrey

Company secretary

Mrs Chai Lin Limbrey

Registered office

Middlemarch
Kemnal Road
Chislehurst
Kent
BR7 6LT

Accountants

Rainbow Tree Partners LLP
Chartered Accountant
Rainbow Tree House
3 Denbigh Close
Chislehurst
Kent
BR7 5EB

 

3o Limited

Directors' Report for the Year Ended 31 December 2022

The directors present their report and the abridged financial statements for the year ended 31 December 2022.

Directors of the company

The directors who held office during the year were as follows:

Mr Dominic James Limbrey

Mrs Chai Lin Limbrey - Company secretary and director

Principal activity

The principal activity of the company is the provision of supply chain management and purchasing consortia services.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 15 November 2023 and signed on its behalf by:
 

.........................................
Mr Dominic James Limbrey
Director

 

3o Limited

(Registration number: 04934923)
Abridged Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

75,707

1,169

Current assets

 

Stocks

115,034

118,497

Debtors

6

1,632,191

1,511,561

Investments

7

1,412,506

1,412,506

Cash at bank and in hand

 

61,113

72,572

 

3,220,844

3,115,136

Prepayments and accrued income

 

6,879

13,900

Creditors: Amounts falling due within one year

(610,576)

(750,625)

Net current assets

 

2,617,147

2,378,411

Total assets less current liabilities

 

2,692,854

2,379,580

Creditors: Amounts falling due after more than one year

(35,952)

(59,028)

Accruals and deferred income

 

(8,213)

(4,667)

Net assets

 

2,648,689

2,315,885

Capital and reserves

 

Called up share capital

8

50

50

Capital redemption reserve

50

50

Retained earnings

2,648,589

2,315,785

Shareholders' funds

 

2,648,689

2,315,885

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

3o Limited

(Registration number: 04934923)
Abridged Balance Sheet as at 31 December 2022

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2023 and signed on its behalf by:
 

.........................................
Mr Dominic James Limbrey
Director

   
 

3o Limited

Notes to the Unaudited Abridged Financial Statements
for the Year Ended 31 December 2022

1

General information

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

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

3o Limited

Notes to the Unaudited Abridged Financial Statements
for the Year Ended 31 December 2022

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

Furniture and fittings

25% reducing balance

Computer equipment

50% reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

3o Limited

Notes to the Unaudited Abridged Financial Statements
for the Year Ended 31 December 2022

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 directors) during the year, was 2 (2021 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

 

3o Limited

Notes to the Unaudited Abridged Financial Statements
for the Year Ended 31 December 2022

2022
£

2021
£

Depreciation expense

259

292

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

41,425

41,425

Additions

74,797

74,797

Disposals

(1,978)

(1,978)

At 31 December 2022

114,244

114,244

Depreciation

At 1 January 2022

40,256

40,256

Charge for the year

259

259

Eliminated on disposal

(1,978)

(1,978)

At 31 December 2022

38,537

38,537

Carrying amount

At 31 December 2022

75,707

75,707

At 31 December 2021

1,169

1,169

6

Debtors

Debtors includes £Nil (2021 - £Nil) due after more than one year.

7

Current asset investments

2022
£

2021
£

Shares in group undertakings

1,412,506

1,412,506

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary 1p of £0.01 each

5,000

50

5,000

50

         
 

3o Limited

Notes to the Unaudited Abridged Financial Statements
for the Year Ended 31 December 2022

9

Parent and ultimate parent undertaking

The ultimate controlling party is Dominic Limbrey.