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REGISTERED NUMBER: 10536804 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

360 PROPERTY GROUP LIMITED

360 PROPERTY GROUP LIMITED (REGISTERED NUMBER: 10536804)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


360 PROPERTY GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: P Copeland





SECRETARY: Mrs V A Copeland





REGISTERED OFFICE: 142 Lindisfarne Road
Newton Hall
Durham
DH1 5YX





REGISTERED NUMBER: 10536804 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

360 PROPERTY GROUP LIMITED (REGISTERED NUMBER: 10536804)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 146 489
Investment property 5 1,743,614 1,264,591
1,743,760 1,265,080

CURRENT ASSETS
Debtors 6 19,395 16,700
Cash at bank 68,215 19,880
87,610 36,580
CREDITORS
Amounts falling due within one year 7 217,850 104,732
NET CURRENT LIABILITIES (130,240 ) (68,152 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,613,520

1,196,928

CREDITORS
Amounts falling due after more than one
year

8

(1,167,547

)

(815,305

)

PROVISIONS FOR LIABILITIES 10 (69,098 ) (69,098 )
NET ASSETS 376,875 312,525

CAPITAL AND RESERVES
Called up share capital 11 30 30
Retained earnings 12 376,845 312,495
SHAREHOLDERS' FUNDS 376,875 312,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

360 PROPERTY GROUP LIMITED (REGISTERED NUMBER: 10536804)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 July 2024 and were signed by:





P Copeland - Director


360 PROPERTY GROUP LIMITED (REGISTERED NUMBER: 10536804)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

360 Property Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & furniture - 33% on cost
Computer equipment - straight line over 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

360 PROPERTY GROUP LIMITED (REGISTERED NUMBER: 10536804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 4,959
DEPRECIATION
At 1 April 2023 4,470
Charge for year 343
At 31 March 2024 4,813
NET BOOK VALUE
At 31 March 2024 146
At 31 March 2023 489

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,264,591
Additions 479,023
At 31 March 2024 1,743,614
NET BOOK VALUE
At 31 March 2024 1,743,614
At 31 March 2023 1,264,591

Investment Properties are included in the financial statements at the above value, which the director believes is the properties' Fair Values at 31 March 2024.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 1,743,614

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,411,877 981,434

Investment property was valued on an open market basis on 31 March 2024 by its director .

360 PROPERTY GROUP LIMITED (REGISTERED NUMBER: 10536804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,643 4,279
Other debtors 6,752 12,421
19,395 16,700

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,000 4,296
Taxation and social security 18,223 8,071
Other creditors 195,627 92,365
217,850 104,732

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,091,734 813,660
Other creditors 75,813 1,645
1,167,547 815,305

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,087,067 805,289

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,087,067 805,287
Other loans 75,813 -
1,162,880 805,287

All loans are secured by way of first legal charge against the properties to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Other timing differences 69,098 69,098

360 PROPERTY GROUP LIMITED (REGISTERED NUMBER: 10536804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 69,098
Charge/(Credit) on deferred
tax due on fair value change
of investment property
Balance at 31 March 2024 69,098

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
10 Ordinary C £1 10 10
30 30

12. RESERVES

Retained earnings is comprised of £162,786 of distributable reserves and £214,059 of non-distributable reserves.

13. RELATED PARTY DISCLOSURES

During the year the director maintained an interest free loan to the company. As at 31 March 2024 £193,347 (2023: £86,621) remained outstanding.