BrightAccountsProduction v1.0.0 v1.0.0 2023-10-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity is environmental services. 10 January 2025 NI638542 2024-09-30 NI638542 2023-09-30 NI638542 2022-09-30 NI638542 2023-10-01 2024-09-30 NI638542 2022-10-01 2023-09-30 NI638542 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI638542 uk-curr:PoundSterling 2023-10-01 2024-09-30 NI638542 uk-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI638542 uk-bus:FullAccounts 2023-10-01 2024-09-30 NI638542 uk-bus:Director1 2023-10-01 2024-09-30 NI638542 uk-bus:Director2 2023-10-01 2024-09-30 NI638542 uk-bus:RegisteredOffice 2023-10-01 2024-09-30 NI638542 uk-bus:Agent1 2023-10-01 2024-09-30 NI638542 uk-core:ShareCapital 2024-09-30 NI638542 uk-core:ShareCapital 2023-09-30 NI638542 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI638542 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI638542 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-09-30 NI638542 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI638542 uk-bus:FRS102 2023-10-01 2024-09-30 NI638542 uk-core:Goodwill 2023-10-01 2024-09-30 NI638542 uk-core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 NI638542 uk-core:MotorVehicles 2023-10-01 2024-09-30 NI638542 uk-core:Goodwill 2023-09-30 NI638542 uk-core:Goodwill 2024-09-30 NI638542 uk-core:CostValuation 2024-09-30 NI638542 uk-core:CurrentFinancialInstruments 2024-09-30 NI638542 uk-core:CurrentFinancialInstruments 2023-09-30 NI638542 uk-core:WithinOneYear 2024-09-30 NI638542 uk-core:WithinOneYear 2023-09-30 NI638542 uk-core:WithinOneYear 2024-09-30 NI638542 uk-core:WithinOneYear 2023-09-30 NI638542 uk-core:WithinOneYear 2024-09-30 NI638542 uk-core:WithinOneYear 2023-09-30 NI638542 uk-core:AfterOneYear 2024-09-30 NI638542 uk-core:AfterOneYear 2023-09-30 NI638542 uk-core:AfterOneYear 2024-09-30 NI638542 uk-core:AfterOneYear 2023-09-30 NI638542 uk-core:BetweenOneTwoYears 2024-09-30 NI638542 uk-core:BetweenOneTwoYears 2023-09-30 NI638542 uk-core:BetweenOneFiveYears 2024-09-30 NI638542 uk-core:BetweenOneFiveYears 2023-09-30 NI638542 2023-10-01 2024-09-30 NI638542 uk-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI638542
 
 
360 Energy (N.I.) Limited (Formerly MC2 Consultants Limited)
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 30 September 2024
360 Energy (N.I.) Limited (Formerly MC2 Consultants Limited)
DIRECTORS AND OTHER INFORMATION

 
Directors Mr Eamon Lynch
Brendan Peter Marsden
 
 
Company Registration Number NI638542
 
 
Registered Office and Business Address 43a Church Place
Lurgan
Craigavon
BT66 6EU
 
 
Accountants Muldoon
Chartered Accountants
16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland
 
 
Bankers Santander
  52/56 Meadow Lane
  Portadown
  Armagh
  Northern Ireland



360 Energy (N.I.) Limited (Formerly MC2 Consultants Limited)
DIRECTORS' REPORT
for the financial year ended 30 September 2024

 
The directors present their report and the unaudited financial statements for the financial year ended 30 September 2024.
     
Directors
The directors who served during the financial year are as follows:
     
Mr Eamon Lynch
Brendan Peter Marsden
   
There were no changes in shareholdings between 30 September 2024 and the date of signing the financial statements.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors 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 directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and 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. They are 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.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________ ___________________________
Mr Eamon Lynch Brendan Peter Marsden
Director Director
     
10 January 2025 10 January 2025



360 Energy (N.I.) Limited (Formerly MC2 Consultants Limited)
Company Registration Number: NI638542
STATEMENT OF FINANCIAL POSITION
as at 30 September 2024

2024 2023
Notes £ £
 
Non-Current Assets
Intangible assets 5 5,000 -
Property, plant and equipment 6 84,844 82,176
Financial assets 7 2 2
───────── ─────────
Non-Current Assets 89,846 82,178
───────── ─────────
 
Current Assets
Debtors 8 58,116 59,531
Cash and cash equivalents 10,284 171
───────── ─────────
68,400 59,702
───────── ─────────
Creditors: amounts falling due within one year 9 (223,728) (142,760)
───────── ─────────
Net Current Liabilities (155,328) (83,058)
───────── ─────────
Total Assets less Current Liabilities (65,482) (880)
 
Creditors:
amounts falling due after more than one year 10 (51,290) (41,660)
───────── ─────────
Net Liabilities (116,772) (42,540)
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings (116,774) (42,542)
───────── ─────────
Equity attributable to owners of the company (116,772) (42,540)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement.
           
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 10 January 2025 and signed on its behalf by
           
           
           
________________________________     ________________________________
Mr Eamon Lynch     Brendan Peter Marsden
Director     Director
           



360 Energy (N.I.) Limited (Formerly MC2 Consultants Limited)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 September 2024

   
1. General Information
 
360 Energy (N.I.) Limited (Formerly MC2 Consultants Limited) is a company limited by shares incorporated in Northern Ireland. 43a Church Place, Lurgan, Craigavon, BT66 6EU is the registered office, which is also the principal place of business of the company. The principal activity is environmental services. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 September 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 0 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Reducing Balance
  Motor vehicles - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
 
Financial assets
Financial assets held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the financial year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The financial statements have been prepared on the basis of the company being a going concern. The company has the ongoing support of directors and related parties. The directors have reviewed the accounts and are satisfied for them to be prepared under the going concern basis.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Directors 2 2
Employees 1 1
  ───────── ─────────
  3 3
  ═════════ ═════════
       
5. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 October 2023 - -
Additions 5,000 5,000
  ───────── ─────────
At 30 September 2024 5,000 5,000
  ───────── ─────────
Net book value
At 30 September 2024 5,000 5,000
  ═════════ ═════════
         
6. Property, plant and equipment
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost
At 1 October 2023 22,564 79,342 101,906
Additions 19,764 6,226 25,990
  ───────── ───────── ─────────
At 30 September 2024 42,328 85,568 127,896
  ───────── ───────── ─────────
Depreciation
At 1 October 2023 10,874 8,856 19,730
Charge for the financial year 4,144 19,178 23,322
  ───────── ───────── ─────────
At 30 September 2024 15,018 28,034 43,052
  ───────── ───────── ─────────
Net book value
At 30 September 2024 27,310 57,534 84,844
  ═════════ ═════════ ═════════
At 30 September 2023 11,690 70,486 82,176
  ═════════ ═════════ ═════════
       
7. Financial fixed assets
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 30 September 2024 2 2
  ───────── ─────────
Net book value
At 30 September 2024 2 2
  ═════════ ═════════
At 30 September 2023 2 2
  ═════════ ═════════
       
8. Debtors 2024 2023
  £ £
 
Trade debtors 55,635 59,647
Other debtors (116) (116)
Taxation  (Note 11) 2,597 -
  ───────── ─────────
  58,116 59,531
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts - 1,488
Bank loan 1,400 2,683
Net obligations under finance leases
and hire purchase contracts 12,092 5,856
Trade creditors 62,970 38,412
Amounts owed to group undertakings 1,843 7,843
Taxation  (Note 11) 12,632 1,701
Directors' current accounts 114,891 83,877
Accruals 17,900 900
  ───────── ─────────
  223,728 142,760
  ═════════ ═════════
       
10. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 7,767 8,748
Finance leases and hire purchase contracts 43,523 32,912
  ───────── ─────────
  51,290 41,660
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 9) 1,400 4,171
Repayable between one and two years 7,767 8,748
  ───────── ─────────
  9,167 12,919
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 12,092 5,856
Repayable between one and five years 43,523 32,912
  ───────── ─────────
  55,615 38,768
  ═════════ ═════════
       
11. Taxation 2024 2023
  £ £
 
Debtors:
PAYE / NI 2,597 -
  ═════════ ═════════
Creditors:
VAT 12,632 1,072
PAYE / NI - 629
  ───────── ─────────
  12,632 1,701
  ═════════ ═════════
           
12. Related party transactions
 
During the year, the company paid amounts to the value of £13,000 to EL Contracts Ltd. The balance owed from EL Contracts Ltd at the year end was £14,747 (2023 owed from: £1,747).

During the year, the company received loans to the value of £7,000 from Marsden Property Services Ltd. The balance due to Marsden Property Services Ltd at the year end was £17,215 (2023: £10,215).

During the year, there was no movement from NVNI Ltd. The balance due at the year end to NVNI Ltd was £116 (2023: £116)