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REGISTERED NUMBER: 10676514 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

POINT PROPERTY MANAGEMENT LIMITED

POINT PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10676514)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance sheet 1

Notes to the financial statements 2


POINT PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10676514)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 4 975,896 825,896

Current assets
Debtors 5 4,842 6,341
Cash at bank 53,451 30,077
58,293 36,418
Creditors
Amounts falling due within one year 6 200,111 310,198
Net current liabilities (141,818 ) (273,780 )
Total assets less current liabilities 834,078 552,116

Creditors
Amounts falling due after more than one year 7 (570,047 ) (321,372 )

Provisions for liabilities 10 (36,584 ) (28,516 )
Net assets 227,447 202,228

Capital and reserves
Called up share capital 11 100 100
Retained earnings 227,347 202,128
Shareholders' funds 227,447 202,228

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 directors acknowledge their 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Mr G A Adams - Director


POINT PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10676514)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. Statutory information

Point Property Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10676514. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 16 St Albans Road, Bournemouth, Dorset, BH8 9EP.

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.

Turnover
Turnover represents income receivable from the management of rental property portfolios and rents receivable from the investment properties.

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

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 that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

POINT PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10676514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. Investment property
Total
£   
Fair value
At 1 April 2023 825,896
Additions 117,726
Revaluations 32,274
At 31 March 2024 975,896
Net book value
At 31 March 2024 975,896
At 31 March 2023 825,896

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 (12,990 )
Valuation in 2022 65,000
Valuation in 2023 62,052
Valuation in 2024 32,274
Cost 829,560
975,896

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 4,842 6,341

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Other loans (see note 8) 83,004 185,004
Trade creditors 114 107
Tax 839 8,077
Other creditors 1,842 1,842
Directors' current accounts 111,792 112,174
Accruals and deferred income 2,520 2,994
200,111 310,198

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Other loans (see note 8) 570,047 321,372

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 566,314 314,439

POINT PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10676514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 83,004 185,004

Amounts falling due between one and two years:
Other loans - 1-2 years 3,200 3,200

Amounts falling due between two and five years:
Other loans - 2-5 years 533 3,733

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 566,314 314,439

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 653,051 506,376

Monies owed to Keystone Property Finance Limited are secured against the property at 33A Bembridge Gardens, Luton, Beds, LU3 3SH, by way of a legal charge dated 26 March 2021.

Monies owed to Aldermore Bank PLC are secured against the properties at 5 Harlech Street, Liverpool, L4 3RJ, 47 Bryncelyn, Nelson, Treharris, CF46 6HL, 12 Chelsea Road, Litherland, Liverpool, L21 8HJ and 54 Dunluce Street, Liverpool, L4 3RQ by way of legal charges dated 26 September 2022, 14 July 2023 and 15 March 2024.

Monies owed to Lendinvest Security Trustees Limited were secured against the property at 47 Bryncelyn, Nelson, Treharris, CF46 6HL, by way of a legal charges dated 17 October 2022. These charges were satisfied during the year.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 36,584 28,516

Deferred
tax
£   
Balance at 1 April 2023 28,516
Provided during year 8,068
Balance at 31 March 2024 36,584

POINT PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10676514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. Ultimate controlling party

The company is controlled by the directors, Mr G Adams and Mr D Potts, who each own 50% of the issued share capital.