Registered number
11624404
Three26 Ltd
Filleted Accounts
31 October 2023
Three26 Ltd
Registered number: 11624404
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 52,418 65,507
Current assets
Debtors 4 79,521 26,044
Cash at bank and in hand 372,096 319,440
451,617 345,484
Creditors: amounts falling due within one year 5 (64,699) (70,130)
Net current assets 386,918 275,354
Net assets 439,336 340,861
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 438,336 339,861
Shareholder's funds 439,336 340,861
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 his 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.
Jack Kelly
Director
Approved by the board on 31 July 2024
Three26 Ltd
Notes to the Accounts
for the year ended 31 October 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.
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:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
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.
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 9 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 101,424
Additions 12,911
Disposals (2,766)
At 31 October 2023 111,569
Depreciation
At 1 November 2022 35,917
Charge for the year 25,029
On disposals (1,795)
At 31 October 2023 59,151
Net book value
At 31 October 2023 52,418
At 31 October 2022 65,507
4 Debtors 2023 2022
£ £
Other Debtors 50,289 -
Employees 3,152 1,551
Deposits held 24,493 24,493
Other debtors 1,587 -
79,521 26,044
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 4,937
Trade creditors 4,086 7,427
Pension payable 651 443
Taxation and social security costs 49,988 52,422
Other creditors 9,974 4,901
64,699 70,130
6 Other information
Three26 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4.06
Cargo Works 1-2
Hatfields
London
SE19PG
Three26 Ltd 11624404 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2022 Jack Kelly No description of principal activity 11624404 2021-11-01 2022-10-31 11624404 core:WithinOneYear 2022-10-31 11624404 core:ShareCapital 2022-10-31 11624404 core:RetainedEarningsAccumulatedLosses 2022-10-31 11624404 2022-11-01 2023-10-31 11624404 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11624404 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 11624404 bus:Director40 2022-11-01 2023-10-31 11624404 1 2022-11-01 2023-10-31 11624404 2 2022-11-01 2023-10-31 11624404 core:PlantMachinery 2022-11-01 2023-10-31 11624404 countries:England 2022-11-01 2023-10-31 11624404 bus:FRS102 2022-11-01 2023-10-31 11624404 bus:FullAccounts 2022-11-01 2023-10-31 11624404 2023-10-31 11624404 core:WithinOneYear 2023-10-31 11624404 core:ShareCapital 2023-10-31 11624404 core:RetainedEarningsAccumulatedLosses 2023-10-31 11624404 core:PlantMachinery 2023-10-31 11624404 2022-10-31 11624404 core:PlantMachinery 2022-10-31 iso4217:GBP xbrli:pure