321dive Limited - Filleted accounts

Registered number

06286625

321dive Limited

Filleted Accounts

30 September 2024

321dive Limited
Registered number:		06286625
Balance Sheet
as at 30 September 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		1,284			1,622

Current assets
Stocks		583,022			268,089
Debtors	4	1,098,503			1,216,737
Cash at bank and in hand		290,214			113,571
		1,971,739			1,598,397

Creditors: amounts falling due within one year	5	(1,205,780)			(1,140,741)

Net current assets			765,959			457,656

Total assets less current liabilities			767,243			459,278

Creditors: amounts falling due after more than one year	6		(33,534)			(40,616)

Provisions for liabilities			(1,300)			(1,300)


Net assets			732,409			417,362

Capital and reserves
Called up share capital			30,000			30,000
Profit and loss account			702,409			387,362

Shareholders' funds			732,409			417,362

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




T A Weeden
Director
Approved by the board on 30 September 2025

321dive Limited
Notes to the Accounts
for the year ended 30 September 2024


1	Accounting policies

	Basis of preparation
	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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	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.


2	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		1		1


3	Tangible fixed assets
					Furniture & equipment
£
	Cost
	At 1 October 2023				22,712
	At 30 September 2024				22,712

	Depreciation
	At 1 October 2023				21,090
	Charge for the year				338
	At 30 September 2024				21,428

	Net book value
	At 30 September 2024				1,284
	At 30 September 2023				1,622


4	Debtors		2024		2023
£				£

	Trade debtors		100,150		335,293
	Other debtors		998,353		881,444
			1,098,503		1,216,737


5	Creditors: amounts falling due within one year		2024		2023
£				£

	Bank loans and overdrafts		7,068		7,068
	Trade creditors		850		10,754
	Taxation and social security costs		112,470		83,123
	Other creditors		1,085,392		1,039,796
			1,205,780		1,140,741


6	Creditors: amounts falling due after one year		2024		2023
£				£

	Bank loans		33,534		40,616


7	Other information

	321dive Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Cedar Cottage
	Blenheim Equestrian
	Benson
	Wallingford
	OX10 6PP