REGISTERED NUMBER: 09667636 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2024

for

Point South Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M D Ross

REGISTERED OFFICE:

7 Cooks Lane

Southbourne

Emsworth

Hampshire

PO10 8LG

REGISTERED NUMBER:

09667636 (England and Wales)

ACCOUNTANTS:

Direct Accounting

7 Cooks Lane

Sourthbourne

Emsworth

Hampshire

PO10 8LG

FIXED ASSETS

Tangible assets

4

20,262

21,669

CURRENT ASSETS

Stocks

5

811,496

265,711

Debtors

6

262,018

346,734

Cash at bank and in hand

853,427

841,998

1,926,941

1,454,443

CREDITORS

Amounts falling due within one year

7

702,566

416,425

NET CURRENT ASSETS

1,224,375

1,038,018

TOTAL ASSETS LESS CURRENT LIABILITIES

1,244,637

1,059,687

PROVISIONS FOR LIABILITIES

858

858

NET ASSETS

1,243,779

1,058,829

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,243,777

1,058,827

SHAREHOLDERS' FUNDS

1,243,779

1,058,829

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 2 April 2025 and were signed by:

M D Ross - Director

1.	STATUTORY INFORMATION

Point South 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.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% 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.

Hire purchase and leasing commitments

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 August 2023

12,676

7,119

9,628

8,205

37,628

Additions

-

1,085

-

-

1,085

At 31 July 2024

12,676

8,204

9,628

8,205

38,713

DEPRECIATION

At 1 August 2023

-

4,484

6,908

4,567

15,959

Charge for year

-

903

680

909

2,492

At 31 July 2024

-

5,387

7,588

5,476

18,451

NET BOOK VALUE

At 31 July 2024

12,676

2,817

2,040

2,729

20,262

At 31 July 2023

12,676

2,635

2,720

3,638

21,669

5.

STOCKS

31.7.24

31.7.23

£

£

Stocks

811,496

265,711

6.

DEBTORS

31.7.24

31.7.23

£

£

Amounts falling due within one year:

Trade debtors

258,949

343,844

Other debtors

2,269

2,090

261,218

345,934

Amounts falling due after more than one year:

Trade debtors

800

800

Aggregate amounts

262,018

346,734

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade creditors

628,827

300,470

Taxation and social security

68,276

111,636

Other creditors

5,463

4,319

702,566

416,425

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £500 (2023: £3,000) were voted to Mr Ross during the year.

At the year end date Mr Ross was owed £505 (2023 £294).

9.	ULTIMATE CONTROLLING PARTY

Ultimate control is held by Mr M Ross and Mrs V Ross by virtue of their equal shareholdings in the company.