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Registered Number: NI628552
England and Wales

 

 

 

321SERVICES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director William James Hutchinson
Registered Number NI628552
Registered Office 47 Clonetrace Road
Broughshane, Ballymena
Antrim
BT43 7HY
Accountants aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 March 2024
Principal activities
The companys principal activity during the year was other letting and operating of own or leased real estate.
Director
The director who served the company throughout the year was as follows:
William James Hutchinson
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
William James Hutchinson
Director

Date approved: 19 March 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of 321Services Limited for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 321Services Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of 321Services Limited, as a body, in accordance with the terms of our engagement letter dated 19 March 2025. Our work has been undertaken solely to prepare for your approval the accounts of 321Services Limited and state those matters that we have agreed to state to the Board of Directors of 321Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 321Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that 321Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 321Services Limited. You consider that 321Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of 321Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
31 March 2024



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
19 March 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 75,468   
Cost of sales (5,646)  
Gross profit 69,822   
Administrative expenses (47,116)   (7,001)
Operating profit/(loss) 22,706    (7,001)
Interest payable and similar charges (11,133)  
Profit/(Loss) on ordinary activities before taxation 11,573    (7,001)
Tax on profit on ordinary activities (2,199)  
Profit/(Loss) for the financial year 9,374    (7,001)
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,529,689    1,517,000 
1,529,689    1,517,000 
Current assets      
Debtors 4 2,020   
Cash at bank and in hand 61,018    89,262 
63,038    89,262 
Creditors: amount falling due within one year 5 (603,038)   (637,084)
Net current assets (540,000)   (547,822)
 
Total assets less current liabilities 989,689    969,178 
Creditors: amount falling due after more than one year 6 (317,795)   (306,662)
Net assets 671,894    662,516 
 

Capital and reserves
     
Called up share capital 7 105    101 
Share premium account 8 790,094    790,094 
Profit and loss account (118,305)   (127,679)
Shareholders' funds 671,894    662,516 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 19 March 2025 and were signed by:


-------------------------------
William James Hutchinson
Director
5
  Equity share capital   Equity share premium   Retained Earnings   Total
£ £ £ £
At 01 April 2022 1  (120,678) (120,677)
Profit for the year (7,001) (7,001)
Total comprehensive income for the year (7,001) (7,001)
Shares issued 100  100 
Share Premium - new issue 790,094  790,094 
Total investments by and distributions to owners 100  790,094  790,194 
At 31 March 2023 101  790,094  (127,679) 662,516 
At 01 April 2023 101  790,094  (127,679) 662,516 
Profit for the year 9,374  9,374 
Total comprehensive income for the year 9,374  9,374 
Shares issued 4 
Total investments by and distributions to owners 4 
At 31 March 2024 105  790,094  (118,305) 671,894 
6
General Information
321Services Limited is a private company, limited by shares, registered in England and Wales, registration number NI628552, registration address 47 Clonetrace Road, Broughshane, Ballymena, Antrim, BT43 7HY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees including directors

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 April 2023 1,517,000    1,517,000 
Additions 12,689    12,689 
Disposals  
At 31 March 2024 1,529,689    1,529,689 
Depreciation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 1,529,689    1,529,689 
Opening balance as at 01 April 2023 1,517,000    1,517,000 

Investment Property Revaluation
The director believes there is no material difference between the incorporated property value and the current fair value and thus no formal valuation has been performed as at 31st March 2024.

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 1,753   
Other Debtors 267   
2,020   

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 2,199   
Accrued Expenses 1,980    900 
Other Creditors 267   
Directors' Current Accounts 598,592    636,184 
603,038    637,084 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 317,795    306,662 
317,795    306,662 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
401 Class B shares of £0.01 each  
150 Class C to Class Q shares of £0.01 each  
9,840 Class A shares of £0.01 each 98   
105   

8.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 790,094   
Equity Share Premium - New Issue   790,094 
790,094    790,094 

9.

Director’s loan

Director's Loan Account

As at 31 March 2024 the director had advanced the company sum totaling £598,592 (2023 - £636,185).
This is an interest free loan and repayable on demand.
10.

Future events

The company engaged in advice from Property 118 on the incorporation of the properties, currently this advice and Property 118 are subject to a HMRC review, this review is still ongoing.
7