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Registered number: 02099359
Cablepoint Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
360 Accountants Limited
19 Albion Street
Hull
HU13TG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 02099359
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 479,931 467,788
Investments 5 100,000 -
579,931 467,788
CURRENT ASSETS
Stocks 261,960 254,230
Debtors 912,614 640,101
Cash at bank and in hand 1,330,464 1,041,109
2,505,038 1,935,440
Creditors: Amounts Falling Due Within One Year (573,736 ) (280,786 )
NET CURRENT ASSETS (LIABILITIES) 1,931,302 1,654,654
TOTAL ASSETS LESS CURRENT LIABILITIES 2,511,233 2,122,442
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,058 ) (7,850 )
NET ASSETS 2,497,175 2,114,592
CAPITAL AND RESERVES
Called up share capital 6 10,000 10,000
Revaluation reserve 221,539 221,539
Profit and Loss Account 2,265,636 1,883,053
SHAREHOLDERS' FUNDS 2,497,175 2,114,592
Page 1
Page 2
For the year ending 31 December 2023 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs A De Kok
Director
16th August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Cablepoint Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02099359 . The registered office is Phoenix House, Amsterdam Road, Kingston Upon Hull, East Yorkshire, HU7 0XP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Plant & Machinery at varying rates on cost
Motor Vehicles 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2022: 33)
33 33
4. Tangible Assets
Total
£
Cost
As at 1 January 2023 1,190,072
Additions 62,782
As at 31 December 2023 1,252,854
Depreciation
As at 1 January 2023 722,284
Provided during the period 50,639
As at 31 December 2023 772,923
Net Book Value
As at 31 December 2023 479,931
As at 1 January 2023 467,788
5. Investments
Total
£
Cost
As at 1 January 2023 -
Additions 100,000
As at 31 December 2023 100,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 100,000
As at 1 January 2023 -
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,000 10,000
Page 4
Page 5
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mrs Angela De Kok - 135,000 - - 135,000
Mr Neil Hiscox 10,000 - 10,000 - -
The above loan is unsecured, interest free and repayable on demand.
8. Ultimate Controlling Party
In the opinion of the director there is no one ultimate controlling party.
Page 5