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REGISTERED NUMBER: 09109072 (England and Wales)


Spear Point Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Spear Point Limited (Registered number: 09109072)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Spear Point Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: Mr M Shoukru





SECRETARY:





REGISTERED OFFICE: 2 Larch Close
Kingswood
Tadworth
Surrey
KT20 6JF





REGISTERED NUMBER: 09109072 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Spear Point Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spear Point Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Spear Point Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spear Point Limited and state those matters that we have agreed to state to the director of Spear Point Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spear Point Limited and its director for our work or for this report.

It is your duty to ensure that Spear Point Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spear Point Limited. You consider that Spear Point 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 financial statements of Spear Point 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 financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


21 October 2024

Spear Point Limited (Registered number: 09109072)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,887 2,359
Investments 5 560,546 500,491
562,433 502,850

CURRENT ASSETS
Debtors 6 4,819 4,190
Cash at bank 83,269 88,901
88,088 93,091
CREDITORS
Amounts falling due within one year 7 35,426 36,836
NET CURRENT ASSETS 52,662 56,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

615,095

559,105

PROVISIONS FOR LIABILITIES 8 31,982 448
NET ASSETS 583,113 558,657

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 94,869 70,023
Retained earnings 10 488,243 488,633
SHAREHOLDERS' FUNDS 583,113 558,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Spear Point Limited (Registered number: 09109072)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 October 2024 and were signed by:





Mr M Shoukru - Director


Spear Point Limited (Registered number: 09109072)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Spear Point Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Listed investments
Listed investments are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Unlisted investments
Unlisted investments are recognised at cost.

Spear Point Limited (Registered number: 09109072)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Interest income
Interest income is recognised on a time-proportion basis using the effective interest method.

Dividend income
Dividend income is recognised when the right to receive payment is established.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 6,313
DEPRECIATION
At 1 April 2023 3,954
Charge for year 472
At 31 March 2024 4,426
NET BOOK VALUE
At 31 March 2024 1,887
At 31 March 2023 2,359

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 500,491
Additions 3,586
Revaluations 56,469
At 31 March 2024 560,546
NET BOOK VALUE
At 31 March 2024 560,546
At 31 March 2023 500,491

Spear Point Limited (Registered number: 09109072)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2017 3,395
Valuation in 2018 (1,731 )
Valuation in 2019 8,526
Valuation in 2020 (32,809 )
Valuation in 2021 69,113
Valuation in 2022 29,171
Valuation in 2023 (5,642 )
Valuation in 2024 56,469
Cost 434,054
560,546

If investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 434,054 430,468

Listed investments were valued on an open market basis on 31 March 2024 by AJ Bell & Brown Brothers Harriman .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,819 4,190

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 1,467
Other creditors 35,426 35,369
35,426 36,836

Spear Point Limited (Registered number: 09109072)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 31,982 448

Deferred
tax
£   
Balance at 1 April 2023 448
Charge to Income Statement during year 31,534
Balance at 31 March 2024 31,982

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 488,633 70,023 558,656
Profit for the year 25,456 25,456
Dividends (1,000 ) (1,000 )
Fair value adjustment (24,846 ) 24,846 -
At 31 March 2024 488,243 94,869 583,112

11. RELATED PARTY DISCLOSURES

Included in other creditors were amounts owed to significant management personnel at balance sheet date of £34,706 (2023: £34,529). No interest was charged on this balance and it is repayable on demand.