Company registration number 09700261 (England and Wales)
Threesixty Engineering Ltd
UNAUDITED FINANCIAL STATEMENTS
for the period ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Threesixty Engineering Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Threesixty Engineering Ltd
Statement Of Financial Position
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
120,320
53,042
Current assets
Stocks
18,452
5,959
Debtors
4
267,574
265,413
Cash at bank and in hand
5,455
41,833
291,481
313,205
Creditors: amounts falling due within one year
5
(233,573)
(196,534)
Net current assets
57,908
116,671
Total assets less current liabilities
178,228
169,713
Creditors: amounts falling due after more than one year
6
(91,234)
(33,387)
Net assets
86,994
136,326
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
86,894
136,226
Total equity
86,994
136,326
Threesixty Engineering Ltd
Statement Of Financial Position (continued)
as at 31 December 2023
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 July 2024 and are signed on its behalf by:
J J Dixon
Director
Company Registration No. 09700261
Threesixty Engineering Ltd
Notes to the financial statements
for the period ended 31 December 2023
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised on performance of contractual service obligations where a right to consideration is due.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
No depreciation charge
Computer equipment
33.3% straight line
Motor vehicles
- 25% reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Leases

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Government grants

Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.

Threesixty Engineering Ltd
Notes to the financial statements (continued)
for the period ended 31 December 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
9
11
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
55,418
-
0
-
0
55,418
Additions
1,035
1,285
64,958
67,278
At 31 December 2023
56,453
1,285
64,958
122,696
Depreciation and impairment
At 1 August 2022 and 31 December 2023
2,376
-
0
-
0
2,376
Carrying amount
At 31 December 2023
54,077
1,285
64,958
120,320
At 31 July 2022
53,042
-
0
-
0
53,042
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
247,948
227,864
Corporation tax recoverable
1,516
18,516
Amounts owed by group undertakings
6,531
-
0
Prepayments and accrued income
11,579
19,033
267,574
265,413
Threesixty Engineering Ltd
Notes to the financial statements (continued)
for the period ended 31 December 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
-
0
10,000
Obligations under hire purchases
-
0
4,500
Trade creditors
200,790
136,760
Corporation tax
-
0
3,042
Other taxation and social security
31,283
32,894
Other creditors
500
-
0
Accruals and deferred income
1,000
9,338
233,573
196,534

The obligations under hire purchases are secured against the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
24,720
28,887
Obligations under hire purchases
66,514
4,500
91,234
33,387

The obligations under hire purchases are secured against the assets to which they relate. The bank loan is secured.

7
Company information

Threesixty Engineering Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3 Holmfield Industrial Estate, Holmfield, Halifax, West Yorkshire, HX2 9TN.

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