THREESIXTY INVESTCO 4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Threesixty Investco 4 Limited is a private company limited by shares and registered in England and Wales, registered number 13430299. Its registered head office is located at Technocover Ltd, Henfaes Lane, Welshpool, Powys, Wales, SY21 7BE.
The principal activity of the Company during the period was that of an investment Company.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentational currency is GBP.
The following principal accounting policies have been applied:
|
|
Exemption from preparing consolidated financial statements
|
The Company is a parent company that is also a subsidiary included in a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the Company as an individual undertaking and not about its group.
|
|
Lengthed accounting period
|
In order to enact a group restructure, the current year was lengthed to be a 18 month period ending 31 December 2023. The prior period relates to the 6 months to 30 June 2022.
Investments in subsidiaries are measured at cost less accumulated impairment.
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|