REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
V360 ENERGY LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
V360 ENERGY LTD |
V360 ENERGY LTD (REGISTERED NUMBER: 12441341) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
V360 ENERGY LTD |
Company Information |
for the Year Ended 29 February 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Accountants |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
V360 ENERGY LTD (REGISTERED NUMBER: 12441341) |
Balance Sheet |
29 February 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Reserves |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
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. |
The financial statements were approved by the director and authorised for issue on |
V360 ENERGY LTD (REGISTERED NUMBER: 12441341) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | Statutory information |
V360 Energy Ltd is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
As at 28 February 2024 the company had net assets of £763 (2023 net liabilities £4,465) and will continue to trade for the next 12 months. The company is also dependant on the continued support of the director who has confirmed their commitment to continue to provide the necessary support as long as the company needs it. |
On this basis the director consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that might be necessary if the director was unable to provide support. |
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 |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. |
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. |
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. |
V360 ENERGY LTD (REGISTERED NUMBER: 12441341) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
4. | Employees and directors |
The average number of employees during the year was |
5. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 March 2023 |
Additions |
At 29 February 2024 |
Depreciation |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 0.01 | - | - |