Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3122023-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseHolding company2truetruefalse 08026692 2023-01-01 2023-12-31 08026692 2022-01-01 2022-12-31 08026692 2023-12-31 08026692 2022-12-31 08026692 c:Director1 2023-01-01 2023-12-31 08026692 d:FurnitureFittings 2023-01-01 2023-12-31 08026692 d:FurnitureFittings 2023-12-31 08026692 d:FurnitureFittings 2022-12-31 08026692 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08026692 d:OfficeEquipment 2023-01-01 2023-12-31 08026692 d:OfficeEquipment 2023-12-31 08026692 d:OfficeEquipment 2022-12-31 08026692 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08026692 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08026692 d:CurrentFinancialInstruments 2023-12-31 08026692 d:CurrentFinancialInstruments 2022-12-31 08026692 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08026692 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08026692 d:ShareCapital 2023-12-31 08026692 d:ShareCapital 2022-12-31 08026692 d:RetainedEarningsAccumulatedLosses 2023-12-31 08026692 d:RetainedEarningsAccumulatedLosses 2022-12-31 08026692 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 08026692 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 08026692 c:FRS102 2023-01-01 2023-12-31 08026692 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08026692 c:FullAccounts 2023-01-01 2023-12-31 08026692 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08026692 2 2023-01-01 2023-12-31 08026692 6 2023-01-01 2023-12-31 08026692 d:Associate1 2023-01-01 2023-12-31 08026692 d:Associate1 1 2023-01-01 2023-12-31 08026692 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08026692










HEADWAY POINT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HEADWAY POINT LIMITED
REGISTERED NUMBER: 08026692

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
31
168

Investments
 5 
754,479
754,479

  
754,510
754,647

Current assets
  

Debtors: amounts falling due within one year
 7 
481,996
569,835

Cash at bank and in hand
 8 
3,355
12,975

  
485,351
582,810

Creditors: amounts falling due within one year
 9 
(20,119)
(31,189)

Net current assets
  
 
 
465,232
 
 
551,621

Total assets less current liabilities
  
1,219,742
1,306,268

  

Net assets
  
1,219,742
1,306,268


Capital and reserves
  

Called up share capital 
  
114
100

Profit and loss account
  
1,219,628
1,306,168

  
1,219,742
1,306,268


Page 1

 
HEADWAY POINT LIMITED
REGISTERED NUMBER: 08026692
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 15 August 2024.




Duncan Evershed
Director

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

Page 2

 
HEADWAY POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Headway Point Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08026692. The registered office address is Unit 7, Spring Road, Jade Business Park, Seaham, SR7 9DR.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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 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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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

 
HEADWAY POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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
-
25%
straight line basis
Office equipment
-
25%
straight line basis

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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs.

Page 4

 
HEADWAY POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
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.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date. 
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

 
Page 5

 
HEADWAY POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables are initially measured at their transaction price after transaction costs.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price.
Other financial instruments
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
HEADWAY POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including the director, during the year was 2 (2022: 2). 


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
750
3,006
3,756



At 31 December 2023

750
3,006
3,756



Depreciation


At 1 January 2023
750
2,838
3,588


Charge for the year on owned assets
-
137
137



At 31 December 2023

750
2,975
3,725



Net book value



At 31 December 2023
-
31
31



At 31 December 2022
-
168
168


5.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 January 2023
754,479



At 31 December 2023
754,479




Page 7

 
HEADWAY POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.



Associate undertaking



Associate


The following was an associate of the Company:


Name

Registered office

Class of shares

Holding

RG Distributors Limited
Unit 7 Spring Road, Jade Business Park, Seaham, England, SR7 9DR.
Ordinary
42%


7.


Debtors

2023
2022
£
£


Trade debtors
3,969
24,835

Amounts owed by associated undertakings
477,100
545,000

Other debtors
927
-

481,996
569,835



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,355
12,975

3,355
12,975



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
10,523
17,790

Other taxation and social security
-
9,851

Other creditors
4,536
2,048

Accruals and deferred income
5,060
1,500

20,119
31,189


Page 8

 
HEADWAY POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
3,355
12,975




Financial assets measured at fair value through profit or loss comprise bank and cash balances held at the year end.


11.


Related party transactions

Included within debtors is a loan to RG Distributors, an associate company. At the balance sheet date the amount owed to the company by RG Distributors was £477,100 (2022 - £545,000).

 
Page 9