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Company registration number: 02787052







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023


MARKETPOINT (EUROPE) LIMITED






































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MARKETPOINT (EUROPE) LIMITED
 


 
COMPANY INFORMATION


Directors
P. J. Gillett 
H. A. Gillett 




Registered number
02787052



Registered office
Lily Hill House
Lily Hill Road

Bracknell

Berkshire

RG12 2SJ




Accountants
Menzies LLP

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


MARKETPOINT (EUROPE) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 9


 


MARKETPOINT (EUROPE) LIMITED
REGISTERED NUMBER:02787052



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,586
18,567

  
16,586
18,567

Current assets
  

Debtors: amounts falling due within one year
 5 
1,579,640
1,742,433

Cash at bank and in hand
  
251,293
357,632

  
1,830,933
2,100,065

Creditors: amounts falling due within one year
 6 
(596,220)
(973,370)

Net current assets
  
 
 
1,234,713
 
 
1,126,695

Total assets less current liabilities
  
1,251,299
1,145,262

Creditors: amounts falling due after more than one year
 7 
(19,915)
(66,334)

Provisions for liabilities
  

Deferred tax
  
(3,466)
(4,026)

  
 
 
(3,466)
 
 
(4,026)

Net assets
  
1,227,918
1,074,902

Page 1

 


MARKETPOINT (EUROPE) LIMITED
REGISTERED NUMBER:02787052


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

2023
2022
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
  
9,584
9,584

Share premium account
  
33,333
33,333

Capital redemption reserve
  
7,084
7,084

Profit and loss account
  
1,177,917
1,024,901

  
1,227,918
1,074,902


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 income and retained earnings 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 by: 



P. J. Gillett
Director

Date: 27 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


MARKETPOINT (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Marketpoint (Europe) Limited is a private company limited by shares incorporated in England and Wales. The registered office and principal place of business is given on the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 

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 generated via the provision of databased marketing and consultancy services and 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.

 
2.3

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 


MARKETPOINT (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%, 25% or 33% Straight line
Equipment
-
20%, 25% or 33% Straight line
Computer software
-
33% Straight line

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.

 
2.6

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.7

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 


MARKETPOINT (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

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 Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting 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 reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2022 - 18).

Page 5

 


MARKETPOINT (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Plant and machinery etc.

£



Cost or valuation


At 1 July 2022
21,043


Additions
4,097



At 30 June 2023

25,140



Depreciation


At 1 July 2022
2,476


Charge for the year
6,078



At 30 June 2023

8,554



Net book value



At 30 June 2023
16,586



At 30 June 2022
18,567


5.


Debtors

2023
2022
£
£


Trade debtors
165,234
135,101

Other debtors
1,401,427
1,595,581

Prepayments and accrued income
12,979
11,751

1,579,640
1,742,433


Page 6

 


MARKETPOINT (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
42,642
131,755

Trade creditors
272,744
282,837

Corporation tax
74,887
44,031

Other taxation and social security
40,880
36,655

Other creditors
157,642
471,932

Accruals and deferred income
7,425
6,160

596,220
973,370


HSBC Bank PLC have a fixed and floating charge over all assets of the company.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,915
66,334

19,915
66,334


HSBC Bank PLC have a fixed and floating charge over all assets of the company.

Page 7

 


MARKETPOINT (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
42,642
131,755


42,642
131,755

Amounts falling due 1-2 years

Bank loans
10,011
45,875


10,011
45,875

Amounts falling due 2-5 years

Bank loans
9,904
20,459


9,904
20,459


62,557
198,089



9.


Pension commitments

As at 30 June 2023 the company had unpaid pension contributions of £3,785 (2022 - £3,512).


10.


Commitments under operating leases

At 30 June 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
24,792
30,567

Later than 1 year and not later than 5 years
35,456
59,787

60,248
90,354

Page 8

 


MARKETPOINT (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

11.


Related party transactions

During the year, the company made sales to High Performance Software Limited of £Nil (2022: £220,785) and made payments of £11,269 (2022: £12,548) in relation to software licenses.
The company made sales to High Performance Software Inc of £300,000 (2022 - £Nil).
At the balance sheet date the company was owed £837,582 (2022: £1,279,124) from High Performance Software Limited, as contained in other debtors in note 5 above and owed £114,425 (2022: £430,315) to High Performance Software lnc, as contained in other creditors in note 6 above. Both companies are under the control of P. J. Gillett. 
During the year, the company made sales to Zuant Inc of £257,382 (2022: £296,032).
At the balance sheet date the company was owed £542,483 (2022: £296,032) from Zuant Inc a company controlled by P. J . Gillett.


12.


Transactions with the director

2023
2022
£
£
Balance outstanding at the start of the year

(2)

(2)
 
Amounts advanced

165

-
 
Amounts repaid

(15)

-
 
Balance outstanding at the end of the year
148

(2)
 

No interest has been charged on this amount.

 
Page 9