2023-03-012024-02-282024-02-28false04508585THREE POINT DESIGN 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THREE POINT DESIGN LTD

Registered Number
04508585
(England and Wales)

Unaudited Financial Statements for the Period ended
28 February 2024

THREE POINT DESIGN LTD
Company Information
for the period from 1 March 2023 to 28 February 2024

Directors

GILLOTT, Adam
GILLOTT, Hazel Elizabeth
TAYLOR, Neil

Company Secretary

GILLOTT, Hazel Elizabeth

Registered Address

Unit 1 Walker Road, Forest Business Park
Bardon Hill
Coalville
LE67 1TU

Registered Number

04508585 (England and Wales)
THREE POINT DESIGN LTD
Statement of Financial Position
28 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets333,08137,459
33,08137,459
Current assets
Stocks423,48719,313
Debtors446,575463,438
Cash at bank and on hand718,219530,349
1,188,2811,013,100
Creditors amounts falling due within one year5(416,050)(434,657)
Net current assets (liabilities)772,231578,443
Total assets less current liabilities805,312615,902
Creditors amounts falling due after one year6(14,167)(24,167)
Net assets791,145591,735
Capital and reserves
Called up share capital105105
Profit and loss account791,040591,630
Shareholders' funds791,145591,735
The financial statements were approved and authorised for issue by the Board of Directors on 6 November 2024, and are signed on its behalf by:
GILLOTT, Hazel Elizabeth
Director
Registered Company No. 04508585
THREE POINT DESIGN LTD
Notes to the Financial Statements
for the period ended 28 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year1313
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 March 2349,18119,91259,080128,173
Additions--6,6496,649
At 28 February 2449,18119,91265,729134,822
Depreciation and impairment
At 01 March 2328,6294,41257,67390,714
Charge for year5,1383,8752,01411,027
At 28 February 2433,7678,28759,687101,741
Net book value
At 28 February 2415,41411,6256,04233,081
At 28 February 2320,55215,5001,40737,459
4.Stocks

2024

2023

££
Work in progress23,48719,313
Total23,48719,313
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables174,927260,275
Bank borrowings and overdrafts10,00010,000
Taxation and social security86,53569,207
Other creditors123,43772,833
Accrued liabilities and deferred income21,15122,342
Total416,050434,657
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts14,16724,167
Total14,16724,167