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Registered Number: 07862295
England and Wales

 

 

 

PRIORITY POINT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2020

End date: 30 November 2021
Report of the accountant to the director of Priority Point Ltd.


These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended  on 30th November 2021.

We have prepared these finance statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

For and on behalf of



....................................................
Priority Point Ltd
The Workshop
32-40 Tontine Street
Folkestone
CT20 1JU
HA1 1LJ
29 August 2022
1
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 705    411 
705    411 
Current assets      
Debtors: amounts falling due within one year 48,285    56,834 
Debtors: amounts falling due after one year   1,400 
Cash at bank and in hand 1,392    21,991 
49,677    80,225 
Creditors: amount falling due within one year (35,041)   (50,338)
Net current assets 14,636    29,887 
 
Total assets less current liabilities 15,341    30,298 
Creditors: amount falling due after more than one year (25,515)   (28,000)
Provisions for liabilities (5,032)   (2,215)
Net liabilities (15,206)   83 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (15,207)   82 
Shareholder's funds (15,206)   83 
 


For the year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

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 by the director on 29 August 2022 and were signed by:


--------------------------------
Cristina PATEL
Director
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General Information
PRIORITY POINT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07862295, registration address The Workshop, 32-40 Tontine Street, Folkestone, Kent, CT20 1JU

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to Other Income.  The related expenditure is debited to the income statement as it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 2 Straight Line
Fixtures and Fittings 2 Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2020 : 4).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Plant and Machinery   Fixtures and Fittings   Total
  £   £   £   £
At 01 December 2020 1,255    46    429    1,730 
Additions 750        750 
Disposals (195)   (46)   (208)   (449)
At 30 November 2021 1,810      221    2,031 
Depreciation
At 01 December 2020 990    46    283    1,319 
Charge for year 409      47    456 
On disposals (195)   (46)   (208)   (449)
At 30 November 2021 1,204      122    1,326 
Net book values
Closing balance as at 30 November 2021 606      99    705 
Opening balance as at 01 December 2020 265      146    411 


4.

Share Capital

Allotted, called up and fully paid
2021
£
  2020
£
1 Class A share of £1.00 each  
 

5.

General information

The company is a private company limited by shares and is registered in England and Wales, with registration number 07862295. The address of the registered office is The Workshop, 32-40 Tontine Street, Folkestone, CT20 1JU.

6.

Period covered by the financial statements

The period covered by the financial statements is 01/12/2020 - 30/11/2021.

7.

Rounding

All figures in the current report have been rounded up to the nearest pound. 

8.

Consent to abridgement

All members have consented to the drawing up of an abridged accounts in accordance with Section 444(2A) of the Companies Act 2006. 

9.

Profit & Loss Account note

The Profit and Loss Account and director's report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime. 

3