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REGISTERED NUMBER: 11850938 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

555 Business Ltd

555 Business Ltd (Registered number: 11850938)






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


555 Business Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S Young





REGISTERED OFFICE: 9
The Green
Tuddenham
Bury St Edmunds
IP28 6SD





REGISTERED NUMBER: 11850938 (England and Wales)






555 Business Ltd (Registered number: 11850938)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 79,589 91,170

CURRENT ASSETS
Stocks 5 13,160 14,994
Debtors 6 365,260 194,028
Cash at bank 6,186 12,619
384,606 221,641
CREDITORS
Amounts falling due within one year 7 331,668 223,445
NET CURRENT ASSETS/(LIABILITIES) 52,938 (1,804 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,527

89,366

CREDITORS
Amounts falling due after more than
one year

8

(25,644

)

(59,472

)

PROVISIONS FOR LIABILITIES (17,670 ) (20,995 )
NET ASSETS 89,213 8,899

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 89,212 8,898
SHAREHOLDERS' FUNDS 89,213 8,899

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.

555 Business Ltd (Registered number: 11850938)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 November 2024 and were signed by:





S Young - Director


555 Business Ltd (Registered number: 11850938)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

555 Business Ltd 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" and the companies Act 2006.
The financial statements have been prepared under historical cost convention. The principal accounting policies adopted are set out below.

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

Turnover includes revenue earned from the sale of goods and from the rendering of services and is recognised at point of sale to the customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets are initially stated at cost and subsequently at cost less depreciation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

555 Business Ltd (Registered number: 11850938)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method

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.


555 Business Ltd (Registered number: 11850938)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 7,341 85,258 6,162 98,761
Additions 2,149 - - 2,149
At 31 March 2024 9,490 85,258 6,162 100,910
DEPRECIATION
At 1 April 2023 2,766 2,131 2,694 7,591
Charge for year 741 12,469 520 13,730
At 31 March 2024 3,507 14,600 3,214 21,321
NET BOOK VALUE
At 31 March 2024 5,983 70,658 2,948 79,589
At 31 March 2023 4,575 83,127 3,468 91,170

555 Business Ltd (Registered number: 11850938)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 13,160 14,994

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 8,680
Amounts owed by group undertakings 311,403 88,425
Other debtors 37,960 17,000
VAT - 16,058
Prepayments and accrued income 15,897 63,865
365,260 194,028

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9)
37,199

37,200
Trade creditors 23,101 30,671
Amounts owed to group undertakings 261,505 155,184
VAT 7,682 -
Accrued expenses 2,181 390
331,668 223,445

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 25,644 59,472

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 37,199 37,200

Amounts falling due between two and five years:
Bank loans - 2-5 years 25,644 59,472

555 Business Ltd (Registered number: 11850938)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LOANS - continued

Included in loans falling due within one year and more than one year is a loan of £62,843 (2023 : £96,674) secured on the assets of the company.

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 79,000 -
Between one and five years 108,000 -
In more than five years 75,375 -
262,375 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1

12. ULTIMATE CONTROLLING PARTY

The company's parent company is Anglia Investors Limited and it's registered office address is 9 The Green, Tuddenham St. Mary, Busy St. Edmunds, Suffolk, England, IP28 6SD.