Company Registration No. SC684680 (Scotland)
360 EVENT HIRE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
James Hair & Co
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
360 EVENT HIRE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
699,614
394,695
Current assets
Debtors
4
26,650
20,521
Cash at bank and in hand
44,242
98,524
70,892
119,045
Creditors: amounts falling due within one year
5
(169,488)
(110,323)
Net current (liabilities)/assets
(98,596)
8,722
Total assets less current liabilities
601,018
403,417
Creditors: amounts falling due after more than one year
6
(349,919)
(171,230)
Provisions for liabilities
7
(53,443)
(31,714)
Net assets
197,656
200,473
Capital and reserves
Called up share capital
8
100
1
Capital redemption reserve
1
1
Profit and loss reserves
197,555
200,471
Total equity
197,656
200,473

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

360 EVENT HIRE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 10 March 2025 and are signed on its behalf by:
Mr F M McQueen
Mrs J McQueen
Director
Director
Company Registration No. SC684680
360 EVENT HIRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

360 Event Hire Ltd is a private company limited by shares incorporated in Scotland. The registered office is 272 Bath Street, GLASGOW, G2 4JR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the invoiced value of equipment hire provided by the company, net of Value Added Tax and trade discounts.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% straight line
Motor vehicles
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.

1.5
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

360 EVENT HIRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
3
360 EVENT HIRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
373,674
121,627
495,301
Additions
309,232
90,250
399,482
At 31 December 2024
682,906
211,877
894,783
Depreciation and impairment
At 1 January 2024
63,876
36,730
100,606
Depreciation charged in the year
68,291
26,272
94,563
At 31 December 2024
132,167
63,002
195,169
Carrying amount
At 31 December 2024
550,739
148,875
699,614
At 31 December 2023
309,798
84,897
394,695
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
19,411
14,621
Other debtors
5,900
5,900
Prepayments and accrued income
1,339
-
0
26,650
20,521
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases (secured)
109,047
47,282
Other borrowings
1,992
6,849
Trade creditors
10,839
12,369
Corporation tax
-
0
14,318
Other taxation and social security
31,427
17,975
Other creditors
13,720
10,030
Accruals and deferred income
2,463
1,500
169,488
110,323
360 EVENT HIRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Obligations under finance leases
240,531
117,832
Other borrowings
109,388
53,398
349,919
171,230
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
53,443
31,714
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 (2023: 1) Ordinary Shares of £1 each
100
1

During the year, the company issued 99 Ordinary shares at par value to increase the share capital to £100.

2024-12-312024-01-01false10 March 2025CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr F M McQueenMrs J McQueenfalsefalseSC6846802024-01-012024-12-31SC6846802024-12-31SC6846802023-12-31SC684680core:PlantMachinery2024-12-31SC684680core:MotorVehicles2024-12-31SC684680core:PlantMachinery2023-12-31SC684680core:MotorVehicles2023-12-31SC684680core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-31SC684680core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-31SC684680core:CurrentFinancialInstruments2024-12-31SC684680core:CurrentFinancialInstruments2023-12-31SC684680core:Non-currentFinancialInstruments2024-12-31SC684680core:Non-currentFinancialInstruments2023-12-31SC684680core:ShareCapital2024-12-31SC684680core:ShareCapital2023-12-31SC684680core:CapitalRedemptionReserve2024-12-31SC684680core:CapitalRedemptionReserve2023-12-31SC684680core:RetainedEarningsAccumulatedLosses2024-12-31SC684680core:RetainedEarningsAccumulatedLosses2023-12-31SC684680bus:Director12024-01-012024-12-31SC684680bus:Director22024-01-012024-12-31SC684680core:PlantMachinery2024-01-012024-12-31SC684680core:MotorVehicles2024-01-012024-12-31SC6846802023-01-012023-12-31SC684680core:PlantMachinery2023-12-31SC684680core:MotorVehicles2023-12-31SC6846802023-12-31SC684680bus:PrivateLimitedCompanyLtd2024-01-012024-12-31SC684680bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-31SC684680bus:FRS1022024-01-012024-12-31SC684680bus:AuditExemptWithAccountantsReport2024-01-012024-12-31SC684680bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP