81 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 14 959 973 973 14 xbrli:pure xbrli:shares iso4217:GBP 08845830 2023-01-01 2023-12-31 08845830 2023-12-31 08845830 2022-12-31 08845830 2022-01-01 2022-12-31 08845830 2022-12-31 08845830 2021-12-31 08845830 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08845830 bus:Director4 2023-01-01 2023-12-31 08845830 core:LandBuildings 2022-12-31 08845830 core:LandBuildings 2023-12-31 08845830 core:WithinOneYear 2023-12-31 08845830 core:WithinOneYear 2022-12-31 08845830 core:AfterOneYear 2023-12-31 08845830 core:AfterOneYear 2022-12-31 08845830 core:ShareCapital 2023-12-31 08845830 core:ShareCapital 2022-12-31 08845830 core:SharePremium 2023-12-31 08845830 core:SharePremium 2022-12-31 08845830 core:RetainedEarningsAccumulatedLosses 2023-12-31 08845830 core:RetainedEarningsAccumulatedLosses 2022-12-31 08845830 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 08845830 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 08845830 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 08845830 core:Non-currentFinancialInstruments 2023-12-31 08845830 core:Non-currentFinancialInstruments 2022-12-31 08845830 bus:SmallEntities 2023-01-01 2023-12-31 08845830 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08845830 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08845830 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08845830 bus:FullAccounts 2023-01-01 2023-12-31 08845830 bus:OrdinaryShareClass1 2023-12-31 08845830 bus:OrdinaryShareClass1 2022-12-31 08845830 core:LandBuildings core:ShortLeaseholdAssets 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08845830
VANTAGE POINT GLOBAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
VANTAGE POINT GLOBAL LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
25,955
24,109
Investments
6
973
14
-------
-------
26,928
24,123
Current assets
Debtors
7
1,097,861
1,089,593
Cash at bank and in hand
25,092
674,379
-----------
-----------
1,122,953
1,763,972
Creditors: amounts falling due within one year
8
( 1,235,658)
( 1,395,048)
-----------
-----------
Net current (liabilities)/assets
( 112,705)
368,924
--------
--------
Total assets less current liabilities
( 85,777)
393,047
Creditors: amounts falling due after more than one year
9
( 111,111)
( 152,778)
Provisions
Taxation including deferred tax
81,278
( 6,027)
--------
--------
Net (liabilities)/assets
( 115,610)
234,242
--------
--------
Capital and reserves
Called up share capital
10
1,667
1,667
Share premium account
298,982
298,982
Profit and loss account
( 416,259)
( 66,407)
--------
--------
Total shareholders' funds
( 115,610)
234,242
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
VANTAGE POINT GLOBAL LIMITED
BALANCE SHEET (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
M R Rule
Director
Company registration number: 08845830
VANTAGE POINT GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, HP18 0RA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. 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.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. The impact of COVID-19 has been considered when performing the going concern assessment and that the assessment as stated above remains appropriate.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents amounts derived from the provision of services provided to clients during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
straight line over the term of the lease
Equipment
-
20% straight line
Investments in subsidiaries
Investments in subsidiaries are accounted for at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables and bank loans and overdrafts, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 81 (2022: 146 ).
5. Tangible assets
Leasehold improvements
Equipment
Total
£
£
£
Cost
At 1 January 2023
22,700
50,173
72,873
Additions
8,791
8,791
-------
-------
-------
At 31 December 2023
22,700
58,964
81,664
-------
-------
-------
Depreciation
At 1 January 2023
22,700
26,064
48,764
Charge for the year
6,945
6,945
-------
-------
-------
At 31 December 2023
22,700
33,009
55,709
-------
-------
-------
Carrying amount
At 31 December 2023
25,955
25,955
-------
-------
-------
At 31 December 2022
24,109
24,109
-------
-------
-------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2023
14
Additions
959
----
At 31 December 2023
973
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
973
----
At 31 December 2022
14
----
7. Debtors
2023
2022
£
£
Trade debtors
565,485
932,682
Amounts owed by group undertakings
295,891
( 5)
Other debtors
236,485
156,916
-----------
-----------
1,097,861
1,089,593
-----------
-----------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
79,420
41,667
Trade creditors
109,733
90,252
Corporation tax
8,880
Social security and other taxes
260,616
438,265
Other creditors
785,889
815,984
-----------
-----------
1,235,658
1,395,048
-----------
-----------
Bank loans are secured over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
111,111
152,778
--------
--------
Bank loans are secured over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future.
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.001 each
1,666,667
1,667
1,666,667
1,667
-----------
------
-----------
------
11. Other financial commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £452,880 (2022: £665,280) and relates to a financial commitment for office space.