2024-03-01 2025-02-28 06077520 SINGLE POINT FINANCIAL SERVICES LIMITED false 06077520 2024-03-01 2025-02-28 06077520 uk-bus:Director1 2024-03-01 2025-02-28 06077520 uk-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 06077520 uk-bus:SmallEntities 2024-03-01 2025-02-28 06077520 uk-bus:FullAccounts 2024-03-01 2025-02-28 06077520 uk-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 06077520 2024-03-01 06077520 2025-02-28 06077520 2024-02-28 xbrli:pure iso4217:GBP 06077520 2023-03-01 2024-02-28
Company Registration Number : 06077520 (England and Wales)
06077520
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2025-02-28
false
SINGLE POINT FINANCIAL SERVICES LIMITED
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2024-03-01
SINGLE POINT FINANCIAL SERVICES LIMITED
Unaudited filleted financial statements
For the year ended 28 February 2025
SINGLE POINT FINANCIAL SERVICES LIMITED
Contents
For the year ended 28 February 2025

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 8


SINGLE POINT FINANCIAL SERVICES LIMITED
Company Information
For the year ended 28 February 2025

Company registration number 06077520 (England and Wales)
Directors Bijaya Kumar Padhi
Manharbhai Manibhai Patel
Company secretary Bijaya Kumar Padhi
Registered office address 568 Rayners Lane
Pinner
Middlesex
HA5 5DJ
SINGLE POINT FINANCIAL SERVICES LIMITED
Statement of Financial Position
For the year ended 28 February 2025

2025 2024
Notes £ £
Fixed assets
Property, plant and equipment 326 435
Investment Property 62,599 55,515
62,925 55,950
Current assets
Cash and cash equivalents 77,028 62,857
77,028 62,857
Current liabilities
Creditors: Amounts falling due within one year 9 (39,302) (39,983)
Corporation tax payable (3,621) (39)
(42,923) (40,022)
Net current assets/(liabilities) 34,105 22,836
Total assets less current liabilities 97,030 78,785
Net assets/(liabilities) 97,030 78,785
Capital and reserves
Called up share capital 40,000 40,000
Retained earnings 57,030 38,785
Shareholder's funds 97,030 78,785
For the year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 25 March 2025
.............................
Bijaya Kumar Padhi (Director)
Company registration number: 06077520
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2025-02-28 28 February 2025
2025 2024
£ £
Fixed Assets 62,925 55,950
Current Assets 77,028 62,857
Creditors: amounts falling due within one year (42,923) (40,022)
Net current assets/(liabilities) 34,105 22,836
Total assets less current liabilities 97,030 78,785
Net Assets/(liabilities) 97,030 78,785
Capital and Reserves 97,030 78,785
For the year ending 28/02/2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 28-02-2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 25 March 2025 2025-03-25 and signed on behalf of the board,
.............................
Bijaya Kumar PADHI
Director
Company registration number: 06077520
SINGLE POINT FINANCIAL SERVICES LIMITED
Notes to the Financial Statements
For the year ended 28 February 2025

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 568 Rayners Lane, Pinner, Middlesex, HA5 5DJ.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Interest income
Interest income is recognised using the effective interest method.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows :

Goodwill - 20% Straight Line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings25% reducing balance
Equipment
Motor Cars
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
At each reporting date non-financial assets not carried at fair value, like goodwill, plant, property and equipment and investments in group undertakings are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in income statement.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in the income statement.
Financial instruments
The Company has elected to apply the provisions of section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash and cash equivalents, trade and other payables, and loans and borrowings.

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instruments. Financial assets and liabilities are initially measured at fair value.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Government Grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised untill there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual mode.

Under the accrual mode, Government grants relating to revenue are recognised on a systematic basis over the period in which the company recognise the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivables.

(4) Employees
During the year, the average number of employees including director was 1 (2024 : 3).

(5) Tax
Current tax
2025 2024
£ £
Corporation tax charge for current year 3,582 39
Total current tax 3,582 39

(6) Intangible fixed assets
Goodwill
£
Cost
As at 01 March 202490,000
As at 28 February 202590,000
Amortisation
As at 01 March 202490,000
As at 28 February 202590,000
Net book value
As at 28 February 2025-
As at 29 February 2024-

(7) Tangible fixed assets
Fixtures and Fittings
£
Cost
As at 01 March 20243,113
As at 28 February 20253,113
Depreciation
As at 01 March 20242,678
For the year109
As at 28 February 20252,787
Net book value
As at 28 February 2025326
As at 29 February 2024435

(8) Other investments other than loan
Investment Properties
£
Cost
As at 01 March 202455,515
Revaluations7,084
As at 28 February 202562,599
Depreciation
As at 28 February 2025-
Net book value
As at 28 February 202562,599
As at 29 February 202455,515

(9) Creditors: Amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 19,500 9,500
Other taxes and social security 374 392
Other creditors 18,151 29,732
Accruals and deferred income 1,277 360
39,302 39,984

(10) Related party transactions
The director Mr. Manhar Patel received a dividend of GBP 2,000 (2024 : GBP 2,000) during the period.

(11) Directors advances, credit and guarantees
The business owes to the directors following balances at year end date 28/02/2025.

Mr Bijaya Kumar Padhi - GBP 3,125
Mr Manhar Patel - GBP 3,245

The loan from directors are interest free and repayable on demand.

(12) Ultimate controlling party
There was no party with an overall controlling interest in the company during the year.