Registered number
10309490
(Registered In Enagland & Wales)
354 Management Ltd
Filleted Accounts
31 January 2024
354 Management Ltd
Registered number: 10309490
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,260,795 5,047,633
Current assets
Debtors 4 453,716 360,157
Investments held as current assets 5 750 750
Cash at bank and in hand 16,911 156,101
471,377 517,008
Creditors: amounts falling due within one year 6 (109,790) (109,948)
Net current assets 361,587 407,060
Total assets less current liabilities 5,622,382 5,454,693
Creditors: amounts falling due after more than one year 7 (4,983,989) (4,820,311)
Net assets 638,393 634,382
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 918,700 918,700
Profit and loss account (280,407) (284,418)
Shareholders' funds 638,393 634,382
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr Bharat Shah
Director
Approved by the board on 30 October 2024
354 Management Ltd
Notes to the Accounts
for the year ended 31 January 2024
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 18% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 4,768,390 5,439 275,711 5,049,540
Additions 346,600 - 174,665 521,265
Disposals (226,400) - - (226,400)
At 31 January 2024 4,888,590 5,439 450,376 5,344,405
Depreciation
At 1 February 2023 - 1,907 - 1,907
Charge for the year - 635 81,068 81,703
At 31 January 2024 - 2,542 81,068 83,610
Net book value
At 31 January 2024 4,888,590 2,897 369,308 5,260,795
At 31 January 2023 4,768,390 3,532 275,711 5,047,633
4 Debtors 2024 2023
£ £
Associated Companies 453,716 360,157
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 750 750
6 Creditors: amounts falling due within one year 2024 2023
£ £
Associated Company Loan account 88,286 88,692
Taxation and social security costs 21,255 21,255
Other creditors 249 1
109,790 109,948
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,502,614 3,424,534
Obligations under finance lease and hire purchase contracts 359,129 267,298
Trade creditors 29,237 11,770
Directors Loan account 1,093,009 1,116,709
4,983,989 4,820,311
8 Revaluation reserve 2024 2023
£ £
At 1 February 2023 918,700 482,700
Gain on revaluation of land and buildings - 436,000
At 31 January 2024 918,700 918,700
9 Other information
354 Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
83 Lavender Hill
London
SW11 5QL
354 Management Ltd 10309490 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 Mr Bharat Shah No description of principal activity 10309490 2022-02-01 2023-01-31 10309490 core:RevaluationReserve core:LandBuildings 2022-02-01 2023-01-31 10309490 core:WithinOneYear 2023-01-31 10309490 core:AfterOneYear 2023-01-31 10309490 core:ShareCapital 2023-01-31 10309490 core:OtherReservesSubtotal 2023-01-31 10309490 core:RetainedEarningsAccumulatedLosses 2023-01-31 10309490 core:RevaluationReserve 2022-01-31 10309490 2023-02-01 2024-01-31 10309490 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10309490 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10309490 bus:Director40 2023-02-01 2024-01-31 10309490 1 2023-02-01 2024-01-31 10309490 2 2023-02-01 2024-01-31 10309490 core:LandBuildings 2023-02-01 2024-01-31 10309490 core:PlantMachinery 2023-02-01 2024-01-31 10309490 core:Vehicles 2023-02-01 2024-01-31 10309490 core:RevaluationReserve core:LandBuildings 2023-02-01 2024-01-31 10309490 countries:England 2023-02-01 2024-01-31 10309490 bus:FRS102 2023-02-01 2024-01-31 10309490 bus:FilletedAccounts 2023-02-01 2024-01-31 10309490 2024-01-31 10309490 core:WithinOneYear 2024-01-31 10309490 core:AfterOneYear 2024-01-31 10309490 core:ShareCapital 2024-01-31 10309490 core:OtherReservesSubtotal 2024-01-31 10309490 core:RetainedEarningsAccumulatedLosses 2024-01-31 10309490 core:LandBuildings 2024-01-31 10309490 core:PlantMachinery 2024-01-31 10309490 core:Vehicles 2024-01-31 10309490 core:RevaluationReserve 2024-01-31 10309490 2023-01-31 10309490 core:LandBuildings 2023-01-31 10309490 core:PlantMachinery 2023-01-31 10309490 core:Vehicles 2023-01-31 10309490 core:RevaluationReserve 2023-01-31 iso4217:GBP xbrli:pure