Caseware UK (AP4) 2022.0.179 2022.0.179 No description of principal activitytrue2022-04-01false3640trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01402605 2022-04-01 2023-03-31 01402605 2023-03-31 01402605 2021-04-01 2022-03-31 01402605 2022-03-31 01402605 c:Director1 2022-04-01 2023-03-31 01402605 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 01402605 d:Buildings d:LongLeaseholdAssets 2023-03-31 01402605 d:Buildings d:LongLeaseholdAssets 2022-03-31 01402605 d:PlantMachinery 2022-04-01 2023-03-31 01402605 d:PlantMachinery 2023-03-31 01402605 d:PlantMachinery 2022-03-31 01402605 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01402605 d:MotorVehicles 2022-04-01 2023-03-31 01402605 d:MotorVehicles 2023-03-31 01402605 d:MotorVehicles 2022-03-31 01402605 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01402605 d:FurnitureFittings 2022-04-01 2023-03-31 01402605 d:FurnitureFittings 2023-03-31 01402605 d:FurnitureFittings 2022-03-31 01402605 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01402605 d:OfficeEquipment 2022-04-01 2023-03-31 01402605 d:OfficeEquipment 2023-03-31 01402605 d:OfficeEquipment 2022-03-31 01402605 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01402605 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01402605 d:CurrentFinancialInstruments 2023-03-31 01402605 d:CurrentFinancialInstruments 2022-03-31 01402605 d:Non-currentFinancialInstruments 2023-03-31 01402605 d:Non-currentFinancialInstruments 2022-03-31 01402605 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01402605 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01402605 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01402605 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 01402605 d:ShareCapital 2023-03-31 01402605 d:ShareCapital 2022-03-31 01402605 d:CapitalRedemptionReserve 2023-03-31 01402605 d:CapitalRedemptionReserve 2022-03-31 01402605 d:RetainedEarningsAccumulatedLosses 2023-03-31 01402605 d:RetainedEarningsAccumulatedLosses 2022-03-31 01402605 c:FRS102 2022-04-01 2023-03-31 01402605 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01402605 c:FullAccounts 2022-04-01 2023-03-31 01402605 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 01402605













Mitrepoint Limited

Financial statements
Information for filing with the registrar

31 March 2023




 
Mitrepoint Limited


Balance sheet
as at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
486,319
578,151

  
486,319
578,151

Current assets
  

Stocks
  
100,471
141,454

Debtors: amounts falling due within one year
 5 
768,389
1,396,516

Cash at bank and in hand
  
1,711,750
1,698,041

  
2,580,610
3,236,011

Creditors: amounts falling due within one year
 6 
(1,293,618)
(1,988,389)

Net current assets
  
 
 
1,286,992
 
 
1,247,622

Total assets less current liabilities
  
1,773,311
1,825,773

Creditors: amounts falling due after more than one year
 7 
-
(95,938)

Provisions for liabilities
  

Other provisions
  
(118,160)
(142,386)

  
 
 
(118,160)
 
 
(142,386)

Net assets
  
1,655,151
1,587,449


Capital and reserves
  

Called up share capital 
  
25,001
25,001

Capital redemption reserve
  
50,000
50,000

Profit and loss account
  
1,580,150
1,512,448

Shareholders' funds
  
1,655,151
1,587,449


1

 
Mitrepoint Limited

    
Balance sheet (continued)
as at 31 March 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2023.




A W Tilley
Director

Company registered number: 01402605
The notes on pages 3 to 8 form part of these financial statements. 

2

 
Mitrepoint Limited
 
 

Notes to the financial statements
for the year ended 31 March 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wylam Close, Stephenson Industrial Estate, Washington, NE37 3BE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the company as lessee

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

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3

 
Mitrepoint Limited
 

 
Notes to the financial statements
for the year ended 31 March 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

4

 
Mitrepoint Limited
 

 
Notes to the financial statements
for the year ended 31 March 2023

2.Accounting policies (continued)

 
2.8

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is based on a last in first out basis and net realisable value is based on estimated selling price.
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

 
2.9

Long term contracts

Long-term contracts are stated in the balance sheet at total costs incurred, net of amounts transferred to the profit and loss account in respect of work carried out to date, less foreseeable losses and applicable payments on account.
Cumulative turnover (i.e. the total turnover recorded in respect of the contracts in the profit and loss accounts of all accounting periods since inception of the contracts) is compared with total payments on account. If turnover exceeds payments on account, an amounts recoverable on long term contracts' is established and separately disclosed in debtors. If payments on account are greater than turnover to date, the excess is classified as a deduction from any balance on that contract in stocks, with any residual balance in excess of cost being classified within creditors.

 
2.10

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2022 - 40).

5

 
Mitrepoint Limited
 
 

Notes to the financial statements
for the year ended 31 March 2023

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2022
-
321,993
593,867
43,312
31,112
990,284


Additions
48,860
9,174
31,335
787
4,764
94,920


Disposals
-
-
(52,892)
(1,558)
(7,054)
(61,504)



At 31 March 2023

48,860
331,167
572,310
42,541
28,822
1,023,700



Depreciation


At 1 April 2022
-
141,656
240,649
13,867
15,960
412,132


Charge for the year
-
76,916
90,700
4,486
4,357
176,459


Disposals
-
-
(43,420)
(1,558)
(6,232)
(51,210)



At 31 March 2023

-
218,572
287,929
16,795
14,085
537,381



Net book value



At 31 March 2023
48,860
112,595
284,381
25,746
14,737
486,319



At 31 March 2022
-
180,337
353,217
29,445
15,152
578,151


5.


Debtors

2023
2022
£
£


Trade debtors
630,188
1,227,211

Amounts owed by related party
98,601
-

Other debtors
-
1,694

Prepayments and accrued income
39,600
167,611

768,389
1,396,516


6

 
Mitrepoint Limited
 
 

Notes to the financial statements
for the year ended 31 March 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
-
12,000

Trade creditors
483,328
985,413

Corporation tax
146,256
316,770

Other taxation and social security
96,146
65,908

Hire purchase contracts
39,933
49,251

Other creditors
361,825
425,661

Accruals and deferred income
166,130
133,386

1,293,618
1,988,389


The following liabilities were secured:

2023
2022
£
£



Hire purchase
39,933
49,251

39,933
49,251



The hire purchase liabilities are secured on the assets to which they relate.

7

 
Mitrepoint Limited
 
 

Notes to the financial statements
for the year ended 31 March 2023

7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
56,005

Hire purchase
-
39,933

-
95,938


The following liabilities were secured:

2023
2022
£
£



Hire purchase
-
39,933

-
39,933

Details of security provided:

The hire purchase liabilities are secured on the assets to which they relate.


8.


Related party transactions

During the year the company loaned £98,601 to Roofclad Systems Limited. (A company in which A W Tilley and D W Tilley are directors). At the year end the company was owed £98,601 (2022: £Nil). The loan is unsecured, interest free and repayable on demand.

 
8