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Registered number: 02700455










POINTING HOLDINGS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
POINTING HOLDINGS LIMITED
REGISTERED NUMBER: 02700455

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Investments
 5 
-
-

  
-
-

Current assets
  

Debtors: amounts falling due within one year
 6 
8,761,506
8,636,126

Cash at bank and in hand
 7 
11,976
9,186

  
8,773,482
8,645,312

Creditors: amounts falling due within one year
 8 
(19,263,045)
(8,153,714)

Net current (liabilities)/assets
  
 
 
(10,489,563)
 
 
491,598

Total assets less current liabilities
  
(10,489,563)
491,598

Creditors: amounts falling due after more than one year
 9 
-
(10,555,211)

  

Net liabilities
  
(10,489,563)
(10,063,613)


Capital and reserves
  

Called up share capital 
 12 
1,838,517
1,838,517

Profit and loss account
  
(12,328,080)
(11,902,130)

  
(10,489,563)
(10,063,613)


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 on 6 September 2024.





L M Magin
Page 1

 
POINTING HOLDINGS LIMITED
REGISTERED NUMBER: 02700455
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

Director

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

Page 2

 
POINTING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Pointing Holdings Limited is a private company limited by shares, registered in England and Wales, company number 02700455.  Its registered office is Oldmedow Road, King's Lynn, Norfolk PE30 4LA.

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 pounds Sterling and rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is supported by its ultimate parent company, Sensient Technologies Corporation. The company has received a parental support letter from its parent company which enables the financial statements to be prepared by the directors on a going concern basis.

 
2.3

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

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. 

 
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.

Page 3

 
POINTING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

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.

 
2.12

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.


3.


Employees




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

Page 4

 
POINTING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
1,151,753



At 31 December 2023

1,151,753



Amortisation


At 1 January 2023
1,151,753



At 31 December 2023

1,151,753



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 5

 
POINTING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
25,000



At 31 December 2023

25,000



Impairment


At 1 January 2023
25,000



At 31 December 2023

25,000



Net book value



At 31 December 2023
-



At 31 December 2022
-


6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
8,759,150
8,633,817

Other debtors
2,082
2,035

Prepayments and accrued income
274
274

8,761,506
8,636,126


Page 6

 
POINTING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
11,976
9,186

11,976
9,186



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
10,018,248
-

Trade creditors
2,081
4,524

Amounts owed to group undertakings
9,207,536
8,119,910

Accruals and deferred income
35,180
29,280

19,263,045
8,153,714



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
-
10,555,211

-
10,555,211


Page 7

 
POINTING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
10,018,248
-


10,018,248
-


Amounts falling due 2-5 years

Other loans
-
10,555,211


-
10,555,211


10,018,248
10,555,211


After the year end, the loan repayment date was renegotiated so that this loan will now fall due after 5 years.


11.


Deferred taxation


The company has an unprovided deferred tax asset at 25% of £1,262,423 (2022 at 25% : £1,262,423) in respect of unprovided capital and trading losses.


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,838,517 (2022 - 1,838,517) Ordinary shares of £1.00 each
1,838,517
1,838,517



13.


Related party transactions

The company holds 100% of the share capital of Pointing International Limited which itself owns two further subsidiaries..
The exemption granted by FRS 102 not to disclose transactions with other wholly owned group companies has been used in preparing these accounts.

Page 8

 
POINTING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Controlling party

In the opinion of the directors, the company's ultimate parent company and ultimate controlling party is Sensient Technologies Corporation, a company incorporated in the United States of America at 777 East Wisconsin Avenue, Milwaukee, WI 53292-5304, USA.  This is the parent undertaking of the smallest and largest group for which group accounts are prepared.
Copies of the group financial statements of Sensient Technologies Corporation are filed at the Securities and Exchange Commission, Washington DC.
Throughout the year, the company's immediate parent is Sensient Holdings UK, a company registered in England and Wales, which holds 100% of the share capital of the company.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 9 September 2024 by Detlev Anderson (Senior Statutory Auditor) on behalf of Kinnair Associates Limited.

 
Page 9