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REGISTERED NUMBER: 05340661 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

OBIS 360 LIMITED

OBIS 360 LIMITED (REGISTERED NUMBER: 05340661)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OBIS 360 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: H E Hallett
J Franey





SECRETARY: J Franey





REGISTERED OFFICE: 34-40 High Street
Wanstead
London
E11 2RJ





REGISTERED NUMBER: 05340661 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
Unit 4 Mulgrave Chambers
26-28 Mulgrave Road
Sutton
Surrey
SM2 6LE

OBIS 360 LIMITED (REGISTERED NUMBER: 05340661)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Computer software 4 - 7,290
Tangible assets 5 6,220 1,340
6,220 8,630

CURRENT ASSETS
Debtors 6 581,524 212,104
Cash at bank and in hand 255,390 394,456
836,914 606,560
CREDITORS
Amounts falling due within one year 7 569,891 218,282
NET CURRENT ASSETS 267,023 388,278
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,243

396,908

PROVISIONS FOR LIABILITIES 8 - 2,158
NET ASSETS 273,243 394,750

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 273,143 394,650
SHAREHOLDERS' FUNDS 273,243 394,750

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

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

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





H E Hallett - Director


OBIS 360 LIMITED (REGISTERED NUMBER: 05340661)

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


1. STATUTORY INFORMATION

Obis 360 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

The directors, having considered all the information available, are confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the directors are satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods and services supplied, net of returns, discounts and value added taxes.

Revenue is recognised in the accounting period in which the event takes place.

Intangible assets
A bespoke piece of software was acquired in 2015 for use in the day to day running of the business. The software is capitalised and amortised through the profit and loss account over the directors estimate of its useful economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings- 20% on cost
Computer equipment- 20% on cost

Assets are depreciated from the month of acquisition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

OBIS 360 LIMITED (REGISTERED NUMBER: 05340661)

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


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into Sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2023 26,502
Disposals (26,502 )
At 31 January 2024 -
AMORTISATION
At 1 February 2023 19,212
Amortisation for year 2,650
Eliminated on disposal (21,862 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 7,290

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 626 4,281 4,907
Additions - 6,030 6,030
Disposals - (3,086 ) (3,086 )
At 31 January 2024 626 7,225 7,851
DEPRECIATION
At 1 February 2023 626 2,941 3,567
Charge for year - 1,150 1,150
Eliminated on disposal - (3,086 ) (3,086 )
At 31 January 2024 626 1,005 1,631
NET BOOK VALUE
At 31 January 2024 - 6,220 6,220
At 31 January 2023 - 1,340 1,340

OBIS 360 LIMITED (REGISTERED NUMBER: 05340661)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 301,851 75,845
Other debtors 931 926
VAT - 3,478
Deferred tax asset 13,714 -
Prepayments and accrued income 265,028 131,855
581,524 212,104

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 294,982 25,883
Corporation tax - 49,163
Social security and other taxes 1,395 328
VAT 19,990 -
Other creditors 231 216
Directors' current accounts 2,573 3,357
Accruals and deferred income 250,720 139,335
569,891 218,282

8. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax
Accelerated capital allowances 2,158

Deferred
tax
£   
Balance at 1 February 2023 2,158
Credit to Income Statement during year (15,872 )
Balance at 31 January 2024 (13,714 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
49 Ordinary A £1 49 49
1 Ordinary B £1 1 1
50 Ordinary C £1 50 50
100 100

All shares carry equal voting and dividend rights.

10. RELATED PARTY DISCLOSURES

At the year end the Directors were owed £2,573 (2023 - £3,357) by the company. The loans are interest free and carry no fixed term of repayment.