Company Registration No. 06847418 (England and Wales)
Pinpoint Manufacturing Limited
Unaudited accounts
for the year ended 31 March 2024
Pinpoint Manufacturing Limited
Unaudited accounts
Contents
Pinpoint Manufacturing Limited
Company Information
for the year ended 31 March 2024
Directors
Sandra La Grange
SANDRA LA GRANGE
Jennifer La Grange
Company Number
06847418 (England and Wales)
Registered Office
Unit 3a Crofty Industrial Estate
Penclawdd
Swansea
SA4 3RS
United Kingdom
Accountants
Gower Accountancy & Tax Advisory Services Ltd
Bryn Robin
Burry Green
Reynoldston
Swansea
SA3 1HR
Pinpoint Manufacturing Limited
Accountants' report
Accountants' report to the board of directors of Pinpoint Manufacturing Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Pinpoint Manufacturing Limited for the year ended
31 March 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Pinpoint Manufacturing Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Pinpoint Manufacturing Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pinpoint Manufacturing Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Pinpoint Manufacturing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pinpoint Manufacturing Limited. You consider that Pinpoint Manufacturing 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 accounts of Pinpoint Manufacturing 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 accounts.
Gower Accountancy & Tax Advisory Services Ltd
Bryn Robin
Burry Green
Reynoldston
Swansea
SA3 1HR
18 October 2024
Pinpoint Manufacturing Limited
Statement of financial position
as at 31 March 2024
Tangible assets
35,751
23,932
Cash at bank and in hand
40,308
51,829
Creditors: amounts falling due within one year
(95,882)
(65,708)
Net current assets
167,941
144,861
Total assets less current liabilities
203,692
168,793
Creditors: amounts falling due after more than one year
-
(14,518)
Net assets
203,692
154,275
Called up share capital
100
100
Profit and loss account
203,592
154,175
Shareholders' funds
203,692
154,275
For the year ending 31 March 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by
SANDRA LA GRANGE
Director
Company Registration No. 06847418
Pinpoint Manufacturing Limited
Notes to the Accounts
for the year ended 31 March 2024
Pinpoint Manufacturing Limited is a private company, limited by shares, registered in England and Wales, registration number 06847418. The registered office is Unit 3a Crofty Industrial Estate, Penclawdd, Swansea, SA4 3RS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% on cost
Plant & machinery
20% on cost
Motor vehicles
20% on cost
Fixtures & fittings
20% on cost
Computer equipment
20% on cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pinpoint Manufacturing Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
73,261
24,495
58,609
5,168
161,533
Additions
21,169
-
-
-
21,169
At 31 March 2024
94,430
24,495
58,609
5,168
182,702
At 1 April 2023
71,556
3,064
58,608
4,373
137,601
Charge for the year
3,031
6,125
-
194
9,350
At 31 March 2024
74,587
9,189
58,608
4,567
146,951
At 31 March 2024
19,843
15,306
1
601
35,751
At 31 March 2023
1,705
21,431
1
795
23,932
Amounts falling due within one year
Trade debtors
148,896
123,437
Accrued income and prepayments
2,700
2,610
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,949
-
Trade creditors
27,964
28,424
Taxes and social security
28,195
13,252
Other creditors
5,000
4,037
7
Creditors: amounts falling due after more than one year
2024
2023
Pinpoint Manufacturing Limited
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Repayment within 9 months
-
29,000
-
29,000
At the year-end, an amount of £29,000 was owed by the director to the company. This amount is unsecured, interest-free, and repayable on demand. The director has confirmed their intention to repay this amount in full within nine months of the year-end.
As the director’s loan account represents a related party transaction, it has been disclosed in line with FRS 102 Section 33.
9
Transactions with related parties
The company occupies a property owned by a Small Self-Administered Scheme (SSAS) pension fund, which is connected to the director’s pension. The property is used by the sponsoring employer (the company) and is leased at an arm’s-length market rent.
In the reporting period, rental payments of £12,000 were made to the SSAS, and the terms of the arrangement are consistent with commercial practices to ensure compliance with HMRC regulations for connected parties.
10
Average number of employees
During the year the average number of employees was 12 (2023: 12).