Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01Sale, hire and repair of survey and safety equipmentThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2024truetruefalse 08389281 2023-03-01 2024-02-29 08389281 2022-03-01 2023-02-28 08389281 2024-02-29 08389281 2023-02-28 08389281 c:Director1 2023-03-01 2024-02-29 08389281 d:PlantMachinery 2023-03-01 2024-02-29 08389281 d:PlantMachinery 2024-02-29 08389281 d:PlantMachinery 2023-02-28 08389281 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08389281 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 08389281 d:MotorVehicles 2023-03-01 2024-02-29 08389281 d:MotorVehicles 2024-02-29 08389281 d:MotorVehicles 2023-02-28 08389281 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08389281 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 08389281 d:FurnitureFittings 2023-03-01 2024-02-29 08389281 d:FurnitureFittings 2024-02-29 08389281 d:FurnitureFittings 2023-02-28 08389281 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08389281 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 08389281 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08389281 d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 08389281 d:CurrentFinancialInstruments 2024-02-29 08389281 d:CurrentFinancialInstruments 2023-02-28 08389281 d:Non-currentFinancialInstruments 2024-02-29 08389281 d:Non-currentFinancialInstruments 2023-02-28 08389281 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08389281 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08389281 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 08389281 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 08389281 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 08389281 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 08389281 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 08389281 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 08389281 d:ShareCapital 2024-02-29 08389281 d:ShareCapital 2023-02-28 08389281 d:RetainedEarningsAccumulatedLosses 2024-02-29 08389281 d:RetainedEarningsAccumulatedLosses 2023-02-28 08389281 c:FRS102 2023-03-01 2024-02-29 08389281 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08389281 c:FullAccounts 2023-03-01 2024-02-29 08389281 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08389281 d:HirePurchaseContracts d:WithinOneYear 2024-02-29 08389281 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 08389281 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-02-29 08389281 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 08389281 2 2023-03-01 2024-02-29 08389281 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-02-29 08389281 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-02-28 08389281 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-02-29 08389281 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-28 08389281 d:LeasedAssetsHeldAsLessee 2024-02-29 08389281 d:LeasedAssetsHeldAsLessee 2023-02-28 08389281 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 08389281









ONE + POINT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
ONE + POINT LIMITED
REGISTERED NUMBER: 08389281

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,403,282
1,526,023

  
1,403,282
1,526,023

Current assets
  

Stocks
 5 
221,344
178,686

Debtors: amounts falling due within one year
 6 
1,198,954
950,266

Cash at bank and in hand
 7 
686,292
494,081

  
2,106,590
1,623,033

Creditors: amounts falling due within one year
 8 
(1,813,238)
(1,177,026)

Net current assets
  
 
 
293,352
 
 
446,007

Total assets less current liabilities
  
1,696,634
1,972,030

Creditors: amounts falling due after more than one year
 9 
(451,215)
(701,173)

  

Net assets
  
1,245,419
1,270,857


Capital and reserves
  

Called up share capital 
  
70,000
70,000

Profit and loss account
  
1,175,419
1,200,857

  
1,245,419
1,270,857

Page 1

 
ONE + POINT LIMITED
REGISTERED NUMBER: 08389281
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 18 November 2024.




................................................
Darren Lawrence
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
ONE + POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England. The principal activity of the Company throughout the year was the sale, hire and repair of survey and safety equipment.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
ONE + POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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.

Page 4

 
ONE + POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Office and workshop equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
ONE + POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.13

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.
 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 24).


4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Office and workshop equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
1,879,252
344,250
32,543
2,256,045


Additions
203,744
-
1,213
204,957


Disposals
(95,827)
-
-
(95,827)



At 29 February 2024

1,987,169
344,250
33,756
2,365,175



Depreciation


At 1 March 2023
533,150
184,037
12,835
730,022


Charge for the year on owned assets
59,357
11,483
3,137
73,977


Charge for the year on financed assets
163,937
28,571
-
192,508


Disposals
(34,614)
-
-
(34,614)



At 29 February 2024

721,830
224,091
15,972
961,893



Net book value



At 29 February 2024
1,265,339
120,159
17,784
1,403,282



At 28 February 2023
1,346,102
160,213
19,708
1,526,023

Page 6

 
ONE + POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


29 February
28 February
2024
2023
£
£



Plant and machinery
928,978
1,027,512

Motor vehicles
85,709
140,099

1,014,687
1,167,611


5.


Stocks

29 February
28 February
2024
2023
£
£

Stock on hand
221,344
178,686

221,344
178,686



6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
1,048,516
742,582

Amounts owed by connected company
-
57,390

Other debtors
149,750
149,750

Prepayments and accrued income
688
544

1,198,954
950,266


Included within other debtors due within one year is a loan to Darren Lawrence, the director, amounting to £110,000 (2023 - £110,000). There were no conditions attached to this loan.



Page 7

 
ONE + POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
686,292
494,081

686,292
494,081



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
45,000
45,000

Trade creditors
806,124
574,605

Amounts owed to group undertakings
369,436
-

Corporation tax
119,608
-

Other taxation and social security
58,751
129,330

Obligations under finance lease and hire purchase contracts
402,570
419,491

Other creditors
2,237
2,521

Accruals and deferred income
9,512
6,079

1,813,238
1,177,026


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Hire purchase creditor
402,570
419,491

402,570
419,491

Details of security provided:

The obligations under hire purchase contracts are secured on the assets concerned.

Page 8

 
ONE + POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
52,500
97,500

Other loans
125,000
125,000

Net obligations under finance leases and hire purchase contracts
273,715
478,673

451,215
701,173


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Hire purchase creditor
273,715
478,673

273,715
478,673

Details of security provided:

The obligations under hire purchase contracts are secured on the assets concerned.


10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
45,000
45,000

Amounts falling due 1-2 years

Bank loans
45,000
45,000

Other loans
125,000
125,000

Amounts falling due 2-5 years

Bank loans
7,500
52,500


222,500
267,500


Page 9

 
ONE + POINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

29 February
28 February
2024
2023
£
£


Within one year
402,570
419,491

Between 1-5 years
273,715
478,673

676,285
898,164


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,940 (2023 - £16,663). £2,237 (2023 - £2,521) was outstanding at the balance sheet date and is included within Other creditors.


13.


Related party transactions

During the year One + Point Limited entered into transactions with DAK (Southern) Limited, a company in which the director, Darren Lawrence, is also a director and majority shareholder. During the year One + Point Limited made sales amounting to £nil (2023 - £218,000) and purchases amounting to £445,083 (2023 - £198,360). At the year end £369,435 (2023 - £57,390 owed from) was owed to DAK (Southern) Limited.


14.


Controlling party

The Company is controlled by the director Darren Lawrence, by virtue of his shareholding, as detailed in the director's report.

 
Page 10