| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1 September 2023 to 30 August 2024 |
| for |
| THIRTY 1 DEGREES LTD |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1 September 2023 to 30 August 2024 |
| for |
| THIRTY 1 DEGREES LTD |
| THIRTY 1 DEGREES LTD (REGISTERED NUMBER: 12138835) |
| Contents of the Financial Statements |
| FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| THIRTY 1 DEGREES LTD |
| Company Information |
| FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Bryant House |
| Bryant Road |
| Strood |
| Rochester |
| Kent |
| ME2 3EW |
| THIRTY 1 DEGREES LTD (REGISTERED NUMBER: 12138835) |
| Balance Sheet |
| 30 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| THIRTY 1 DEGREES LTD (REGISTERED NUMBER: 12138835) |
| Balance Sheet - continued |
| 30 AUGUST 2024 |
| The financial statements were approved by the director and authorised for issue on |
| THIRTY 1 DEGREES LTD (REGISTERED NUMBER: 12138835) |
| Notes to the Financial Statements |
| FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Thirty 1 Degrees Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, including the presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes. Revenue is not recognised when goods or services are exchanged for goods or services that are of a similar nature and value or when the transaction lacks commercial substance. |
| Sale of goods |
| Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
| - the company has transferred the significant risks and rewards of ownership to the buyer; |
| - the company retains neither continuing managerial involvement to the degree usually associated with the ownership nor effective control over the goods sold; |
| - the amount of revenue can be measured reliably; |
| - it is probable that the company will receive the consideration due under the transaction; |
| - the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Rendering of services |
| The percentage of completion method is used to calculate the revenue recognised at the period end. |
| Revenue from the rendering of services is recognised when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the economic benefits associated with the transaction will flow to the entity; |
| - the stage of completion of the transaction at the end of the reporting period can be measured reliably; and |
| - the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. |
| THIRTY 1 DEGREES LTD (REGISTERED NUMBER: 12138835) |
| Notes to the Financial Statements - continued |
| FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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 period 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 |
| Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. |
| All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
| 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. |
| Employee benefits |
| The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence. |
| Investments |
| Investments held as fixed assets are shown at cost less provision for impairment. |
| THIRTY 1 DEGREES LTD (REGISTERED NUMBER: 12138835) |
| Notes to the Financial Statements - continued |
| FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024 |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| Additions |
| At 30 August 2024 |
| NET BOOK VALUE |
| At 30 August 2024 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2023 |
| Additions |
| Disposals |
| At 30 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for period |
| Eliminated on disposal |
| At 30 August 2024 |
| NET BOOK VALUE |
| At 30 August 2024 |
| At 31 August 2023 |
| THIRTY 1 DEGREES LTD (REGISTERED NUMBER: 12138835) |
| Notes to the Financial Statements - continued |
| FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024 |
| 6. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 September 2023 |
| and 30 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for period |
| At 30 August 2024 |
| NET BOOK VALUE |
| At 30 August 2024 |
| At 31 August 2023 |
| 7. | FIXED ASSET INVESTMENTS |
| Other |
| investment |
| £ |
| COST |
| At 1 September 2023 |
| and 30 August 2024 |
| NET BOOK VALUE |
| At 30 August 2024 |
| At 31 August 2023 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| THIRTY 1 DEGREES LTD (REGISTERED NUMBER: 12138835) |
| Notes to the Financial Statements - continued |
| FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024 |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| 11. | OTHER FINANCIAL COMMITMENTS |
| Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £40,787 (2023 - £8,750). |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the period ended 30 August 2024 and the year ended 31 August 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of period | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period | ( |
) |
| The loan from the company to the director is unsecured, and repayable on demand. Interest has been charged on the loan at the official rate per HMRC. |