Registered number
08569610
360 Health Ltd
Unaudited Filleted Accounts
31 December 2023
360 Health Ltd
Registered number: 08569610
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 576 9,885
Tangible assets 4 33,248 41,831
Investments 5 16,000 -
49,824 51,716
Current assets
Stocks 30,334 26,851
Debtors 6 194,768 164,797
Cash at bank and in hand 60,925 229,316
286,027 420,964
Creditors: amounts falling due within one year 7 (121,739) (114,315)
Net current assets 164,288 306,649
Total assets less current liabilities 214,112 358,365
Creditors: amounts falling due after more than one year 8 (14,167) (24,167)
Net assets 199,945 334,198
Capital and reserves
Called up share capital 17,829 17,829
Profit and loss account 182,116 316,369
Shareholder's funds 199,945 334,198
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss K C V Peters
Director
Approved by the board on 31 July 2024
360 Health Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33.33% straight line
Fixtures & Fittings 33.33% & 50% straight line
Office Equipment 33.33% & 50% straight line
Motor Vehicles 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 8
3 Intangible fixed assets £
Cost
At 1 January 2023 46,541
At 31 December 2023 46,541
Amortisation
At 1 January 2023 36,656
Provided during the year 9,309
At 31 December 2023 45,965
Net book value
At 31 December 2023 576
At 31 December 2022 9,885
Intangible assets is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 20,543 37,990 58,533
Additions 10,165 25,000 35,165
Disposals - (37,990) (37,990)
At 31 December 2023 30,708 25,000 55,708
Depreciation
At 1 January 2023 16,702 - 16,702
Charge for the year 2,841 2,917 5,758
At 31 December 2023 19,543 2,917 22,460
Net book value
At 31 December 2023 11,165 22,083 33,248
At 31 December 2022 3,841 37,990 41,831
5 Investments
Other
investments
£
Cost
Additions 16,000
At 31 December 2023 16,000
6 Debtors 2023 2022
£ £
Trade debtors 9,317 20,057
Corporation tax repayable 27,958 -
Other debtors 157,493 144,740
194,768 164,797
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 67,955 37,002
Taxation and social security costs 10,182 62,394
Other creditors 33,602 4,919
121,739 114,315
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,167 24,167
9 Other information
360 Health Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Lower Coombe, Hydrangeas
Buckfastleigh
South Hams Devon
England
TQ11 0LE
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