THREE26 LTD


Director	KELLY, Jack


Registered Address	Unit 108 Clerkenwell Workshops Clerkenwell Close
	London
	EC1R 0AT


Registered Number	11624404 (England and Wales)

Balance Sheet as at
31 October 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	5		44,227		52,419
			44,227		52,419
Current assets
Debtors	6	91,646		87,583
Cash at bank and on hand		169,590		372,096
		261,236		459,679
Creditors amounts falling due within one year	7	(74,218)		(72,762)
Net current assets (liabilities)			187,018		386,917
Total assets less current liabilities			231,245		439,336
Provisions for liabilities			(8,403)		-
Net assets			222,842		439,336
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			221,842		438,336
Shareholders' funds			222,842		439,336

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 3 September 2025, and are signed on its behalf by:

KELLY, Jack
Director
Registered Company No. 11624404

THREE26 LTD

Notes to the Financial Statements
for the year ended 31 October 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Fixtures and fittings	4
	Office Equipment	4

	Stocks and work in progress
	Work in progress is valued using the percentage of completion method. Sales recorded after the year end date of 31 October 2024 that are related to services provided in the year have been recognised in this financial year.

2.	Staff Costs
	Included in staff costs is £433,771 paid to employees of the company. This has increased from the previous year due to additional employees.

3.	Average number of employees


		2024		2023
	Average number of employees during the year	11		9

4.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate of 19% when the asset is expected to be realised.

5.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 November 23	113,365
	Additions	12,766
	At 31 October 24	127,927
	Depreciation and impairment
	At 01 November 23	60,946
	Charge for year	20,958
	At 31 October 24	83,701
	Net book value
	At 31 October 24	44,227
	At 31 October 23	52,419

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	-	24,493
Other debtors	90,183	61,504
Prepayments and accrued income	1,463	1,586
Total	91,646	87,583


	Included in debtors: amounts due within one year is £32,245. This is due to payments to HMRC being allocated between different tax accounts after the year end date of 31 October 2024. This amount is related to Corporation Tax liabilities being paid after the year end but allocated within the year. The remaining £31,607 relates to the sales brought into this year as work in progress.

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Bank borrowings and overdrafts	10,119	14,060
Taxation and social security	60,524	58,051
Other creditors	3,575	651
Total	74,218	72,762


	Included in creditors: amounts due within one year is £56,788 payable to HMRC for PAYE and National Insurance liabilities. This is due to payments to HMRC being allocated between different tax accounts after the year end date of 31 October 2024.