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REGISTERED NUMBER: 11457542 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024

FOR

ON POINT SEWING STUDIO LIMITED

ON POINT SEWING STUDIO LIMITED (REGISTERED NUMBER: 11457542)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ON POINT SEWING STUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: Mrs S Baigent
R R Baigent





REGISTERED OFFICE: The Clough
Elland Road
Ripponden
United Kingdom
HX6 4HW





REGISTERED NUMBER: 11457542 (England and Wales)





ACCOUNTANTS: Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD

ON POINT SEWING STUDIO LIMITED (REGISTERED NUMBER: 11457542)

BALANCE SHEET
31ST JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 528 548

CURRENT ASSETS
Stocks 570 215
Debtors 5 - 1,065
Cash at bank 20,752 22,279
21,322 23,559
CREDITORS
Amounts falling due within one year 6 5,625 13,652
NET CURRENT ASSETS 15,697 9,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,225

10,455

PROVISIONS FOR LIABILITIES 7 132 104
NET ASSETS 16,093 10,351

CAPITAL AND RESERVES
Called up share capital 8 6 6
Retained earnings 16,087 10,345
SHAREHOLDERS' FUNDS 16,093 10,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th January 2025 and were signed on its behalf by:





Mrs S Baigent - Director


ON POINT SEWING STUDIO LIMITED (REGISTERED NUMBER: 11457542)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

On Point Sewing Studio Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Deferred tax
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.

3. EMPLOYEES AND DIRECTORS

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

ON POINT SEWING STUDIO LIMITED (REGISTERED NUMBER: 11457542)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st August 2023 1,320
Additions 100
At 31st July 2024 1,420
DEPRECIATION
At 1st August 2023 772
Charge for year 120
At 31st July 2024 892
NET BOOK VALUE
At 31st July 2024 528
At 31st July 2023 548

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,065

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 603
Tax 2,409 6,408
Directors' current accounts 2,276 5,796
Accrued expenses 940 845
5,625 13,652

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 132 104

Deferred
tax
£   
Balance at 1st August 2023 104
Charge to Income Statement during year 28
Balance at 31st July 2024 132

ON POINT SEWING STUDIO LIMITED (REGISTERED NUMBER: 11457542)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary A £1 3 3
3 Ordinary B £1 3 3
6 6