REGISTERED NUMBER: SC615525 (Scotland)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

380 Trading Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

John Lonergan

REGISTERED OFFICE:

25 Sandyford Place

Sauchiehall Street

Glasgow

G3 7NG

REGISTERED NUMBER:

SC615525 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Intangible assets

4

16,000

20,000

Tangible assets

5

11,885

13,919

27,885

33,919

CURRENT ASSETS

Stock

7,850

9,500

Debtors

6

7,913

3,746

Cash at bank and in hand

36,084

36,325

51,847

49,571

CREDITORS

Amounts falling due within one year

7

76,686

68,836

NET CURRENT LIABILITIES

(24,839

)

(19,265

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,046

14,654

CREDITORS

Amounts falling due after more than one year

8

(2,177

)

(11,959

)

PROVISIONS FOR LIABILITIES

9

(2,258

)

(2,366

)

NET (LIABILITIES)/ASSETS

(1,389

)

329

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

(1,489

)

229

SHAREHOLDERS' FUNDS

(1,389

)

329

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 November 2025 and were signed by:

John Lonergan - Director

1.	STATUTORY INFORMATION

380 Trading Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fittings and equipment

-

20% on reducing balance

Stocks

Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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 year 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Grant income

Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

40,000

AMORTISATION

At 1 June 2024

20,000

Amortisation for year

4,000

At 31 May 2025

24,000

NET BOOK VALUE

At 31 May 2025

16,000

At 31 May 2024

20,000

5.	TANGIBLE FIXED ASSETS

Fittings

and

equipment

£

COST

At 1 June 2024

41,865

Additions

890

At 31 May 2025

42,755

DEPRECIATION

At 1 June 2024

27,946

Charge for year

2,924

At 31 May 2025

30,870

NET BOOK VALUE

At 31 May 2025

11,885

At 31 May 2024

13,919

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

7,913

3,746

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

9,773

9,773

Trade creditors

21,500

8,884

Amounts owed to group undertakings

8,748

6,544

Taxation and social security

31,340

35,279

Other creditors

5,325

8,356

76,686

68,836

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,177

11,959

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

2,258

2,366

Deferred

tax

£

Balance at 1 June 2024

2,366

Provided during year

(108

)

Balance at 31 May 2025

2,258

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100