Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Clive John Ansell 17/03/2015 11 April 2024 The principal activity of the company continued to be that of renting out commercial property. 09494872 2023-12-31 09494872 bus:Director1 2023-12-31 09494872 2022-12-31 09494872 core:CurrentFinancialInstruments 2023-12-31 09494872 core:CurrentFinancialInstruments 2022-12-31 09494872 core:Non-currentFinancialInstruments 2023-12-31 09494872 core:Non-currentFinancialInstruments 2022-12-31 09494872 core:ShareCapital 2023-12-31 09494872 core:ShareCapital 2022-12-31 09494872 core:RevaluationReserve 2023-12-31 09494872 core:RevaluationReserve 2022-12-31 09494872 core:RetainedEarningsAccumulatedLosses 2023-12-31 09494872 core:RetainedEarningsAccumulatedLosses 2022-12-31 09494872 core:LandBuildings 2022-12-31 09494872 core:OtherPropertyPlantEquipment 2022-12-31 09494872 core:LandBuildings 2023-12-31 09494872 core:OtherPropertyPlantEquipment 2023-12-31 09494872 bus:OrdinaryShareClass1 2023-12-31 09494872 2023-01-01 2023-12-31 09494872 bus:FilletedAccounts 2023-01-01 2023-12-31 09494872 bus:SmallEntities 2023-01-01 2023-12-31 09494872 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09494872 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09494872 bus:Director1 2023-01-01 2023-12-31 09494872 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 09494872 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 09494872 2022-01-01 2022-12-31 09494872 core:LandBuildings 2023-01-01 2023-12-31 09494872 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 09494872 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09494872 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09494872 (England and Wales)

360 COMMERCIAL PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

360 COMMERCIAL PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

360 COMMERCIAL PROPERTIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
360 COMMERCIAL PROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Clive John Ansell
SECRETARY Ashley Lyndon Beetson
REGISTERED OFFICE Unity House Compass Point Business Park
Stocks Bridge Way
St. Ives
PE27 5JL
England
United Kingdom
COMPANY NUMBER 09494872 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
360 COMMERCIAL PROPERTIES LIMITED

BALANCE SHEET

As at 31 December 2023
360 COMMERCIAL PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,209,805 1,134,551
1,209,805 1,134,551
Current assets
Debtors 4 148,163 72,989
Cash at bank and in hand 53 12,927
148,216 85,916
Creditors: amounts falling due within one year 5 ( 461,539) ( 350,380)
Net current liabilities (313,323) (264,464)
Total assets less current liabilities 896,482 870,087
Creditors: amounts falling due after more than one year 6 ( 302,707) ( 315,670)
Net assets 593,775 554,417
Capital and reserves
Called-up share capital 7 100 100
Revaluation reserve 457,960 457,960
Profit and loss account 135,715 96,357
Total shareholder's funds 593,775 554,417

For the financial year ending 31 December 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 financial statements of 360 Commercial Properties Limited (registered number: 09494872) were approved and authorised for issue by the Director on 11 April 2024. They were signed on its behalf by:

Clive John Ansell
Director
360 COMMERCIAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
360 COMMERCIAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

360 Commercial Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unity House Compass Point Business Park, Stocks Bridge Way, St. Ives, PE27 5JL, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 40 years straight line
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 1,217,960 76,918 1,294,878
Additions 0 145,839 145,839
At 31 December 2023 1,217,960 222,757 1,440,717
Accumulated depreciation
At 01 January 2023 144,302 16,025 160,327
Charge for the financial year 26,342 44,243 70,585
At 31 December 2023 170,644 60,268 230,912
Net book value
At 31 December 2023 1,047,316 162,489 1,209,805
At 31 December 2022 1,073,658 60,893 1,134,551

4. Debtors

2023 2022
£ £
Trade debtors 360 156
Prepayments 2,303 677
Other debtors 145,500 72,156
148,163 72,989

Other debtors is made up of "The How Development 1 Ltd (Investment/purchase of shares as signed loan agreement terms)" for £145,500.

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 64,570 68,482
Trade creditors 13,779 4,369
Amounts owed to Group undertakings 270,109 235,929
Taxation and social security 15,500 10,535
Obligations under finance leases and hire purchase contracts 58,371 ( 9,803)
Other creditors 39,210 40,868
461,539 350,380

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 211,266 264,462
Obligations under finance leases and hire purchase contracts 91,441 51,208
302,707 315,670

HSBC hold a charge over the leasehold property known as 9 Compass Point Business Park, Stocks Bridge Way, St Ives.
HSBC also hold a fixed and floating charge over all assets.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2023 2022
£ £
360 Holdings Group (UK) Limited - Creditor 250,109 210,034
360EVC Limited - Creditor 10,000 10,000

360 Holdings Group (UK) Limited owns the entire share capital of 360 Commercial Properties Limited.

The inter-company balances owing from companies under the control of Mr C Ansell.