Registered number
04015743
Conepoint Limited
Unaudited Filleted Accounts
31 December 2021
Conepoint Limited
Registered number: 04015743
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Investments 4 2,800,000 2,800,000
Current assets
Debtors 5 10,405 8,066
Cash at bank and in hand 36,355 38,327
46,760 46,393
Creditors: amounts falling due within one year 6 (21,370) (16,166)
Net current assets 25,390 30,227
Total assets less current liabilities 2,825,390 2,830,227
Creditors: amounts falling due after more than one year 7 (1,298,706) (1,400,000)
Provisions for liabilities (133,023) (133,023)
Net assets 1,393,661 1,297,204
Capital and reserves
Called up share capital 1,000 1,000
Non distributable reserves 8 1,274,401 1,274,401
Profit and loss account 118,260 21,803
Shareholders' funds 1,393,661 1,297,204
The directors are 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 directors acknowledge their 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.
R M Wellstead
R M Wellstead
Director
Approved by the board on 4 September 2022
Conepoint Limited
Notes to the Accounts
for the period from 1 December 2020 to 31 December 2021
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:
Plant and machinery over 4 years
Investment property
Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis. The investment property is accounted for under FRS 102 (March 2018), Section 16 'Investment Property'.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2020 6,103
At 31 December 2021 6,103
Depreciation
At 1 December 2020 6,103
At 31 December 2021 6,103
Net book value
At 31 December 2021 -
4 Investments
Other
investments
£
Cost
At 1 December 2020 2,800,000
At 31 December 2021 2,800,000
Other investments comprise freehold property, which is remeasured annually to fair value.
5 Debtors 2021 2020
£ £
Trade debtors 10,405 600
Other debtors - 7,466
10,405 8,066
6 Creditors: amounts falling due within one year 2021 2020
£ £
Taxation and social security costs 20,331 14,203
Other creditors 1,039 1,963
21,370 16,166
7 Creditors: amounts falling due after one year 2021 2020
£ £
Other creditors 1,298,706 1,400,000
Included in other creditors is £1,298,706 (2020 - £1,400,000) which is owed to the Director.
8 Non distributable reserves 2021 2020
£ £
At 1 December 2020 1,407,424 1,407,424
Deferred tax (133,023) (133,023)
At 31 December 2021 1,274,401 1,274,401
9 Other information
Conepoint Limited is a private company limited by shares and incorporated in England. Its registered office is:
Staple House
5 Eleanor's Cross
Dunstable
Bedfordshire
LU6 1SU
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