Company registration number 05391505 (England and Wales)
NORTHPOINT PUBLISHING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
NORTHPOINT PUBLISHING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
NORTHPOINT PUBLISHING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
34,800
-
0
Tangible assets
5
9,949
12,198
44,749
12,198
Current assets
Debtors
6
169,509
184,538
Cash at bank and in hand
60,014
61,011
229,523
245,549
Creditors: amounts falling due within one year
7
(194,755)
(181,728)
Net current assets
34,768
63,821
Total assets less current liabilities
79,517
76,019
Creditors: amounts falling due after more than one year
8
(22,500)
(47,729)
Net assets
57,017
28,290
Capital and reserves
Called up share capital
9
10
10
Profit and loss reserves
57,007
28,280
Total equity
57,017
28,290
NORTHPOINT PUBLISHING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 21 November 2023 and are signed on its behalf by:
R Slater
Director
Company Registration No. 05391505
NORTHPOINT PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Northpoint Publishing Limited is a private company limited by shares incorporated in England and Wales. The registered office is East Park Lodge, East Park Road, Blackburn, BB1 8DW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
20% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% reducing balance
Fixtures and fittings
15% reducing balance
Computers
33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

NORTHPOINT PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

NORTHPOINT PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
6
4
Intangible fixed assets
Website
£
Cost
At 1 April 2022
-
0
Additions
36,000
At 31 March 2023
36,000
Amortisation and impairment
At 1 April 2022
-
0
Amortisation charged for the year
1,200
At 31 March 2023
1,200
Carrying amount
At 31 March 2023
34,800
At 31 March 2022
-
0
NORTHPOINT PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022
11,000
13,838
24,838
Additions
-
0
914
914
At 31 March 2023
11,000
14,752
25,752
Depreciation and impairment
At 1 April 2022
2,090
10,550
12,640
Depreciation charged in the year
891
2,272
3,163
At 31 March 2023
2,981
12,822
15,803
Carrying amount
At 31 March 2023
8,019
1,930
9,949
At 31 March 2022
8,910
3,288
12,198
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
106,561
119,544
Corporation tax recoverable
734
734
Other debtors
62,214
64,260
169,509
184,538

Other debtors includes amounts owed to the company by connected entities of £29,870 (2022: £14,913). These amounts are interest free and recoverable on demand.

 

Other debtors also includes amounts loaned to the directors of £14,851 (2022: £21,744).

NORTHPOINT PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
8,937
Trade creditors
99,987
29,623
Corporation tax
6,727
17,873
Other taxation and social security
31,477
34,420
Other creditors
46,564
90,875
194,755
181,728

Other creditors includes an amount of £32,435 (2022 - £22,485 Debtor) relating to advances received in respect of factored debts. The liability is secured by a first legal charge over the assets of the company.

8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,500
47,729

The company’s bank borrowings and overdrafts are secured by first legal charges over the company’s assets.

The company's bank borrowings are in relation to a loan received as part of the Bounce Back Loan Scheme, and are secured and managed by the British Business Bank.

9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary "A" shares of £1 each
9
9
9
9
Ordinary "B" shares of £1 each
1
1
1
1
10
10
10
10
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
46,851
40,530
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