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Registration number: 10952958

365 Management Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

365 Management Solutions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

365 Management Solutions Ltd

Company Information

Director

Mr S Hawthorne

Registered office

Unit 5
Trafalgar Court
Widnes
Cheshire
WA8 0SZ

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants1 Old Hall Street
1st Floor
Liverpool
L3 9HF

 

365 Management Solutions Ltd

(Registration number: 10952958)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

611,721

460,166

Investment property

5

517,000

348,517

 

1,128,721

808,683

Current assets

 

Stocks

6

239,864

241,049

Debtors

7

212,386

257,461

Cash at bank and in hand

 

354,224

404,218

 

806,474

902,728

Creditors: Amounts falling due within one year

8

(685,914)

(692,398)

Net current assets

 

120,560

210,330

Total assets less current liabilities

 

1,249,281

1,019,013

Creditors: Amounts falling due after more than one year

8

(8,334)

(18,333)

Provisions for liabilities

(146,022)

-

Net assets

 

1,094,925

1,000,680

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

1,094,924

1,000,679

Shareholders' funds

 

1,094,925

1,000,680

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 April 2025
 

 

365 Management Solutions Ltd

(Registration number: 10952958)
Balance Sheet as at 30 September 2024

.........................................
Mr S Hawthorne
Director

 

365 Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Unit 5
Trafalgar Court
Widnes
Cheshire
WA8 0SZ

These financial statements were authorised for issue by the director on 24 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

365 Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on a straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Director. The Director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

365 Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

365 Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 29 (2023 - 23).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

666,891

666,891

Additions

269,007

269,007

At 30 September 2024

935,898

935,898

Depreciation

At 1 October 2023

206,725

206,725

Charge for the year

117,452

117,452

At 30 September 2024

324,177

324,177

Carrying amount

At 30 September 2024

611,721

611,721

At 30 September 2023

460,166

460,166

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

5

Investment properties

2024
£

At 1 October

348,517

Additions

11,667

Fair value adjustments

156,816

At 30 September

517,000

 

365 Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

At the year end the director has valued the investment properties held by the company at £517,000 (2023: £
348,517). The valuation is based is based on market values of similar properties in the surrounding area.

If the investment properties had been accounted for under the historical cost accounting rules, the value would be £360,184 (2023:£348,517).

There has been no valuation of investment property by an independent valuer.

 

365 Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Stocks

2024
£

2023
£

Other inventories

239,864

241,049

7

Debtors

Current

2024
£

2023
£

Trade debtors

64,258

81,826

Prepayments and accrued income

14,660

-

Other debtors

133,468

175,635

 

212,386

257,461

 

365 Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

276,341

344,042

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

6,758

-

Taxation and social security

 

110,570

121,653

Accruals and deferred income

 

56,948

17,282

Other creditors

 

225,297

199,421

 

685,914

692,398

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8,334

18,333

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

14,120

11,771