Company registration number 05141768 (England and Wales)
THE TIPPING POINT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
THE TIPPING POINT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE TIPPING POINT LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,596
61,797
Current assets
Stocks
26,926
23,128
Debtors
5
74,872
113,142
Cash at bank and in hand
333,460
250,414
435,258
386,684
Creditors: amounts falling due within one year
6
(112,878)
(82,273)
Net current assets
322,380
304,411
Net assets
332,976
366,208
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
332,974
366,206
Total equity
332,976
366,208

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 20 February 2025 and are signed on its behalf by:
..............................................
..............................................
Mrs D A Evans
Mr J W Evans
Director
Director
Company registration number 05141768 (England and Wales)
THE TIPPING POINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

The Tipping Point Limited is a private company limited by shares incorporated in England and Wales. The registered office is Southcote House, 126 St Cross Road, Winchester, Hampshire, United Kingdom, SO23 9RJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
33.33% straight line
Fixtures & fittings clinic
33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

THE TIPPING POINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (excluding directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
209,282
Additions
7,279
At 30 June 2024
216,561
Depreciation and impairment
At 1 July 2023
147,485
Depreciation charged in the year
58,480
At 30 June 2024
205,965
Carrying amount
At 30 June 2024
10,596
At 30 June 2023
61,797
THE TIPPING POINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
35,372
95,928
Other debtors
39,500
17,214
74,872
113,142
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
49,318
33,348
Corporation tax
33,748
13,790
Other taxation and social security
-
0
6,652
Other creditors
29,812
28,483
112,878
82,273
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