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Registration number: 03426700

Counterpoint (UK) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Counterpoint (UK) Ltd

Company Information

Director

Dr Alison Margaret Lyon-Behrens

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
Chartered Accountants9 Berners Place
London
W1T 3AD

 

Counterpoint (UK) Ltd

(Registration number: 03426700)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

2,828

2,794

Current assets

 

Debtors

7

692

516

Cash at bank and in hand

 

13

21,316

 

705

21,832

Creditors: Amounts falling due within one year

8

(30,669)

(18,959)

Net current (liabilities)/assets

 

(29,964)

2,873

Total assets less current liabilities

 

(27,136)

5,667

Provisions for liabilities

(707)

(698)

Net (liabilities)/assets

 

(27,843)

4,969

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(27,943)

4,869

Shareholders' (deficit)/funds

 

(27,843)

4,969

For the financial year ending 31 August 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 her 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 and 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 28 May 2025
 

.........................................
Dr Alison Margaret Lyon-Behrens
Director

 

Counterpoint (UK) Ltd

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

100

4,869

4,969

Loss for the year

-

(32,812)

(32,812)

At 31 August 2024

100

(27,943)

(27,843)

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

100

(4,891)

(4,791)

Profit for the year

-

9,760

9,760

At 31 August 2023

100

4,869

4,969

 

Counterpoint (UK) Ltd

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

1

General information

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

The address of its registered office is:
9 Berners Place
London
W1T 3AD
United Kingdom

These financial statements were authorised for issue by the director on 28 May 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable 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.
Turnover is recognised when invoices are raised on completion of milestones.

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.

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.

 

Counterpoint (UK) Ltd

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

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

Plant and machinery

15% reducing balance

Office equipment

20% reducing balance

Fixture and fittings

15% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents and licences

Over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Counterpoint (UK) Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

-

2,418

UK corporation tax adjustment to prior periods

-

(91)

-

2,327

Deferred taxation

Arising from changes in tax rates and laws

8

(61)

Tax expense in the income statement

8

2,266

 

Counterpoint (UK) Ltd

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

5

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 September 2023

500

500

At 31 August 2024

500

500

Amortisation

At 1 September 2023

500

500

At 31 August 2024

500

500

Carrying amount

At 31 August 2024

-

-

6

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

1,079

-

3,039

4,118

Additions

284

1,256

410

1,950

At 31 August 2024

1,363

1,256

3,449

6,068

Depreciation

At 1 September 2023

298

188

2,094

2,580

Charge for the year

160

161

339

660

At 31 August 2024

458

349

2,433

3,240

Carrying amount

At 31 August 2024

905

907

1,016

2,828

At 31 August 2023

781

1,068

945

2,794

 

Counterpoint (UK) Ltd

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

7

Debtors

Current

2024
£

2023
£

Prepayments

167

171

Other debtors

-

345

VAT

525

-

 

692

516

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

13,959

-

Trade creditors

 

2,576

162

Taxation and social security

 

-

1,662

Accruals and deferred income

 

1,535

4,240

Credit card account

 

266

835

Corporation tax

 

-

2,419

Director loan account

 

12,333

9,641

 

30,669

18,959

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

13,959

-

11

Going Concern

The director has agreed to support the company for the next twelve months.

 

Counterpoint (UK) Ltd

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

12

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

19,826

24,061