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OVERPOINT LIMITED

REPORT OF THE DIRECTOR AND

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2024






OVERPOINT LIMITED (REGISTERED NUMBER: 05453759)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OVERPOINT LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTOR: A K Joshi





SECRETARY: N Jobanputra





REGISTERED OFFICE: 19 Varley Parade
London
NW9 6RR





REGISTERED NUMBER: 05453759 (England and Wales)






OVERPOINT LIMITED (REGISTERED NUMBER: 05453759)

STATEMENT OF FINANCIAL POSITION
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,423,188 2,423,188

CURRENT ASSETS
Debtors 6 55,879 137,255
Cash at bank 115,950 61,406
171,829 198,661
CREDITORS
Amounts falling due within one year 7 929,346 1,022,298
NET CURRENT LIABILITIES (757,517 ) (823,637 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,665,671

1,599,551

CREDITORS
Amounts falling due after more than one
year

8

1,300,000

1,224,811
NET ASSETS 365,671 374,740

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 365,571 374,640
SHAREHOLDERS' FUNDS 365,671 374,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

OVERPOINT LIMITED (REGISTERED NUMBER: 05453759)

STATEMENT OF FINANCIAL POSITION - continued
30 June 2024


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 24 June 2025 and were signed by:





A K Joshi - Director


OVERPOINT LIMITED (REGISTERED NUMBER: 05453759)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Overpoint 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 on freehold property has not been provided, as doing so would result in the financial statements not showing a true and fair view.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

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

OVERPOINT LIMITED (REGISTERED NUMBER: 05453759)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
Cost
At 1 July 2023
and 30 June 2024 2,423,188
Net book value
At 30 June 2024 2,423,188
At 30 June 2023 2,423,188

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 53,823 93,288
Other debtors 2,056 43,967
55,879 137,255

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,875 40,883
Rent deposits 28,223 162,878
Trade creditors 22,198 49,635
Taxation and social security - 6,730
Other creditors 857,050 762,172
929,346 1,022,298

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,300,000 1,224,811

Amounts falling due in more than five years:

Repayable by instalments
Bank loans falling due after 5 years 1,300,000 984,811

OVERPOINT LIMITED (REGISTERED NUMBER: 05453759)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,321,875 1,265,694

£1,300,000 of the Bank loans is secured by way of a fixed charge on the freehold property.

10. CONTINGENT LIABILITIES

As far as the Board is aware, there were no contingent liabilities at the balance sheet date.

11. ULTIMATE CONTROLLING PARTY

The controlling party is A K Joshi.