Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01No description of principal activity66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03511291 2023-01-01 2023-12-31 03511291 2022-01-01 2022-12-31 03511291 2023-12-31 03511291 2022-12-31 03511291 c:Director2 2023-01-01 2023-12-31 03511291 c:Director3 2023-01-01 2023-12-31 03511291 d:PlantMachinery 2023-01-01 2023-12-31 03511291 d:PlantMachinery 2023-12-31 03511291 d:PlantMachinery 2022-12-31 03511291 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03511291 d:FurnitureFittings 2023-01-01 2023-12-31 03511291 d:ComputerEquipment 2023-01-01 2023-12-31 03511291 d:CurrentFinancialInstruments 2023-12-31 03511291 d:CurrentFinancialInstruments 2022-12-31 03511291 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03511291 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03511291 d:ShareCapital 2023-12-31 03511291 d:ShareCapital 2022-12-31 03511291 d:RetainedEarningsAccumulatedLosses 2023-12-31 03511291 d:RetainedEarningsAccumulatedLosses 2022-12-31 03511291 c:FRS102 2023-01-01 2023-12-31 03511291 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03511291 c:FullAccounts 2023-01-01 2023-12-31 03511291 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03511291 d:WithinOneYear 2023-12-31 03511291 d:WithinOneYear 2022-12-31 03511291 d:BetweenOneFiveYears 2023-12-31 03511291 d:BetweenOneFiveYears 2022-12-31 03511291 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03511291










THE POINT (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE POINT (UK) LIMITED
REGISTERED NUMBER: 03511291

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,110
6,378

  
8,110
6,378

Current assets
  

Stocks and work in progress
  
23,892
10,772

Debtors: amounts falling due within one year
 5 
90,231
178,659

Cash at bank and in hand
  
96,704
102,779

  
210,827
292,210

Creditors: amounts falling due within one year
 6 
(128,236)
(201,383)

Net current assets
  
 
 
82,591
 
 
90,827

Total assets less current liabilities
  
90,701
97,205

  

Net assets
  
90,701
97,205


Capital and reserves
  

Called up share capital 
  
400
400

Profit and loss account
  
90,301
96,805

  
90,701
97,205


Page 1

 
THE POINT (UK) LIMITED
REGISTERED NUMBER: 03511291
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 income statement 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: 




................................................
R J Lincoln
................................................
I McKinnon-Evans
Director
Director








21 August 2024


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THE POINT (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Point (UK) Limited is a private company limited by shares and incorporated in England and Wales, registration number 03511291. The registered office is 4 Woolgate Court, St Benedicts Street, Norwich, Norfolk, NR2 4AP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The Directors believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements. The directors believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

Page 3

 
THE POINT (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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. 

Depreciation is provided on the following basis:

Fixtures and fittings
-
15% reducing balance
Computer equipment
-
3 years straight line

 
2.5

Stocks and work in progress

Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal levels of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. 

  
2.6
Contracts

Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of the work done less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account. Cumulative costs incurred net of amounts transferred to cost of sales, less provision for contingencies and anticipated future losses on contracts, are included as contract balances in stock.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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.

 
2.9

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.

Page 4

 
THE POINT (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.11

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.

 
2.12

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.

 
2.13

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 reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 5

 
THE POINT (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery etc

£



Cost or valuation


At 1 January 2023
162,817


Additions
4,818



At 31 December 2023

167,635



Depreciation


At 1 January 2023
156,439


Charge for the year on owned assets
3,086



At 31 December 2023

159,525



Net book value



At 31 December 2023
8,110



At 31 December 2022
6,378

Page 6

 
THE POINT (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
80,008
166,115

Prepayments and accrued income
10,223
12,544

90,231
178,659



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
11,490
14,580

Corporation tax
12,406
22,914

Other taxation and social security
34,236
47,757

Accruals and deferred income
70,104
116,132

128,236
201,383





7.


Contingent liabilities

The Company is also part of a group VAT registration. At 31 December 2023 the maximum contingent liability was £24,726 (2022: £37,483). No liability is expected to arise from other group members on this arrangement.
Group liabilities are covered by fixed and floating cross charges.


8.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held seperately form those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,330 (2022: £3,078). No contributions were payable to the fund at the reporting date. 

Page 7

 
THE POINT (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Commitments under operating leases

At 31 December 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
17,820
17,250

Later than 1 year and not later than 5 years
40,380
51,750

58,200
69,000


10.


Controlling party

The company is controlled by The Point Organisation Limited, a company registered in England and Wales, by virtue of the fact it owns 80% of the issued share capital. This is also the company's ultimate controlling party and parent undertaking.  The registered office is 4 Woolgate Court, St Benedicts Street, Norwich, Norfolk, NR2 4AP.

 
Page 8