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Company Registration No. 13336620 (England and Wales)
Point Forty Two Limited Unaudited accounts for the year ended 31 March 2024
Point Forty Two Limited Unaudited accounts Contents
Page
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Point Forty Two Limited Company Information for the year ended 31 March 2024
Directors
Ali Ansari Ross David Hill
Company Number
13336620 (England and Wales)
Registered Office
141 ROSEDEN WAY NEWCASTLE UPON TYNE TYNE AND WEAR NE13 9BD ENGLAND
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Point Forty Two Limited Accountants' report
Accountants' report to the board of directors of Point Forty Two Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Point Forty Two Limited for the year ended 31 March 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Point Forty Two Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Point Forty Two Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Point Forty Two Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Point Forty Two Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Point Forty Two Limited. You consider that Point Forty Two Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Point Forty Two Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 8 August 2024
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Point Forty Two Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
133 
226 
Investment property
149,868 
79,774 
150,001 
80,000 
Current assets
Cash at bank and in hand
2,437 
32,247 
Creditors: amounts falling due within one year
(60,559)
(60,737)
Net current liabilities
(58,122)
(28,490)
Total assets less current liabilities
91,879 
51,510 
Creditors: amounts falling due after more than one year
(112,500)
(60,000)
Net liabilities
(20,621)
(8,490)
Capital and reserves
Called up share capital
12 
12 
Revaluation reserve
(6,466)
1,960 
Profit and loss account
(14,167)
(10,462)
Shareholders' funds
(20,621)
(8,490)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by
Ali Ansari Director Company Registration No. 13336620
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Point Forty Two Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Point Forty Two Limited is a private company, limited by shares, registered in England and Wales, registration number 13336620. The registered office is 141 ROSEDEN WAY, NEWCASTLE UPON TYNE, TYNE AND WEAR, NE13 9BD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
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Point Forty Two Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2023
280 
At 31 March 2024
280 
Depreciation
At 1 April 2023
54 
Charge for the year
93 
At 31 March 2024
147 
Net book value
At 31 March 2024
133 
At 31 March 2023
226 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
79,774 
Additions
78,520 
Net loss from fair value adjustments
(8,426)
At 31 March 2024
149,868 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
60,019 
60,017 
Accruals
540 
720 
60,559 
60,737 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
112,500 
60,000 
Aggregate of amounts that fall due for payment after five years
112,500 
60,000 
8
Transactions with related parties
At the year end, the company owed £60,018 (2023 - £60,018) to the directors. No interest has been charged for the period (2023 - £2,000).
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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