Powerpoint Engineering Services Limited 03286755 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of project management and CAD design. Digita Accounts Production Advanced 6.30.9574.0 true true true 03286755 2023-04-01 2024-03-31 03286755 2024-03-31 03286755 core:CurrentFinancialInstruments 2024-03-31 03286755 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03286755 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03286755 core:FurnitureFittingsToolsEquipment 2024-03-31 03286755 bus:SmallEntities 2023-04-01 2024-03-31 03286755 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03286755 bus:FullAccounts 2023-04-01 2024-03-31 03286755 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03286755 bus:RegisteredOffice 2023-04-01 2024-03-31 03286755 bus:Director1 2023-04-01 2024-03-31 03286755 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03286755 core:FurnitureFittings 2023-04-01 2024-03-31 03286755 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03286755 1 2023-04-01 2024-03-31 03286755 countries:England 2023-04-01 2024-03-31 03286755 2023-03-31 03286755 core:FurnitureFittingsToolsEquipment 2023-03-31 03286755 2022-04-01 2023-03-31 03286755 2023-03-31 03286755 core:CurrentFinancialInstruments 2023-03-31 03286755 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03286755 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03286755 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 03286755

Powerpoint Engineering Services Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Powerpoint Engineering Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Powerpoint Engineering Services Limited

(Registration number: 03286755)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

50,734

59,787

Current assets

 

Debtors

5

160,961

187,996

Cash at bank and in hand

 

149

149

 

161,110

188,145

Creditors: Amounts falling due within one year

6

(136,525)

(162,797)

Net current assets

 

24,585

25,348

Total assets less current liabilities

 

75,319

85,135

Creditors: Amounts falling due after more than one year

6

(32,884)

(43,415)

Provisions for liabilities

(2,379)

(2,146)

Net assets

 

40,056

39,574

Capital and reserves

 

Called up share capital

101

101

Retained earnings

39,955

39,473

Shareholders' funds

 

40,056

39,574

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 October 2024
 

 

Powerpoint Engineering Services Limited

(Registration number: 03286755)
Balance Sheet as at 31 March 2024

.........................................
Mr C Peers
Director

 

Powerpoint Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3rd Floor Water Street Business Centre
Water Street
Newcastle
ST5 1TT

These financial statements were authorised for issue by the director on 8 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Powerpoint Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

15% reducing balance

Impairment

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.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Powerpoint Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 8).

 

Powerpoint Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

93,371

93,371

Additions

357

357

At 31 March 2024

93,728

93,728

Depreciation

At 1 April 2023

33,584

33,584

Charge for the year

9,410

9,410

At 31 March 2024

42,994

42,994

Carrying amount

At 31 March 2024

50,734

50,734

At 31 March 2023

59,787

59,787

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

53,057

56,512

Amounts owed by related parties

7

106,766

122,346

Other debtors

 

1,138

9,138

   

160,961

187,996

6

Creditors

Creditors: amounts falling due within one year

 

Powerpoint Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

29,783

30,866

Trade creditors

 

1,726

4,004

Taxation and social security

 

99,744

90,353

Accruals and deferred income

 

4,670

36,505

Other creditors

 

602

1,069

 

136,525

162,797

The bank ovrdraft is secured on the fixed and floating charges of all assets.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

32,884

43,415

7

Related party transactions

All transactions undertaken with related parties were under normal market conditions and/or not material.

All transactions undertaken with the shareholders are deemed to be conducted under normal market conditions.

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies.

8

Parent and ultimate parent undertaking

The parent undertaking's registered office is 3rd Floor, Water Street Business Centre, Water Street, Newcastle, ST5 1TT.

 The company's immediate parent is C J P Investments Limited, incorporated in England.