Silverfin false false 31/12/2024 01/01/2024 31/12/2024 C Haynes T Howell R Lincoln I McKinnon-Evans 25 July 2025 no description of principal activity 03511291 2024-12-31 03511291 2023-12-31 03511291 core:CurrentFinancialInstruments 2024-12-31 03511291 core:CurrentFinancialInstruments 2023-12-31 03511291 core:ShareCapital 2024-12-31 03511291 core:ShareCapital 2023-12-31 03511291 core:RetainedEarningsAccumulatedLosses 2024-12-31 03511291 core:RetainedEarningsAccumulatedLosses 2023-12-31 03511291 core:PlantMachinery 2023-12-31 03511291 core:PlantMachinery 2024-12-31 03511291 core:WithinOneYear 2024-12-31 03511291 core:WithinOneYear 2023-12-31 03511291 core:BetweenOneFiveYears 2024-12-31 03511291 core:BetweenOneFiveYears 2023-12-31 03511291 2024-01-01 2024-12-31 03511291 bus:FilletedAccounts 2024-01-01 2024-12-31 03511291 bus:SmallEntities 2024-01-01 2024-12-31 03511291 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03511291 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03511291 bus:Director1 2024-01-01 2024-12-31 03511291 bus:Director2 2024-01-01 2024-12-31 03511291 bus:Director3 2024-01-01 2024-12-31 03511291 bus:Director4 2024-01-01 2024-12-31 03511291 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 03511291 core:PlantMachinery 2024-01-01 2024-12-31 03511291 2023-01-01 2023-12-31 03511291 1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 03511291 (England and Wales)

THE POINT (UK) LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

THE POINT (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

THE POINT (UK) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
THE POINT (UK) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 9,677 8,110
9,677 8,110
Current assets
Stocks 10,304 23,892
Debtors 4 69,435 90,231
Cash at bank and in hand 47,116 96,704
126,855 210,827
Creditors: amounts falling due within one year 5 ( 75,088) ( 128,236)
Net current assets 51,767 82,591
Total assets less current liabilities 61,444 90,701
Net assets 61,444 90,701
Capital and reserves
Called-up share capital 400 400
Profit and loss account 61,044 90,301
Total shareholders' funds 61,444 90,701

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Point (UK) Limited (registered number: 03511291) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R Lincoln
Director
I McKinnon-Evans
Director

25 July 2025

THE POINT (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
THE POINT (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Point (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Woolgate Court, St Benedicts Street, Norwich, NR2 4AP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 3 years straight line
15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal levels of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 January 2024 167,635 167,635
Additions 6,886 6,886
Disposals ( 63,430) ( 63,430)
At 31 December 2024 111,091 111,091
Accumulated depreciation
At 01 January 2024 159,525 159,525
Charge for the financial year 5,319 5,319
Disposals ( 63,430) ( 63,430)
At 31 December 2024 101,414 101,414
Net book value
At 31 December 2024 9,677 9,677
At 31 December 2023 8,110 8,110

4. Debtors

2024 2023
£ £
Trade debtors 58,214 80,008
Prepayments 10,751 10,223
Other debtors 470 0
69,435 90,231

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,848 11,490
Accruals and deferred income 36,702 70,104
Corporation tax 4,865 12,406
Other taxation and social security 23,673 34,236
75,088 128,236

6. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 17,820 17,820
between one and five years 22,560 40,380
40,380 58,200

Pensions

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,573 (2023: £3,330). No contributions were payable to the fund at the reporting date.

7. Contingencies

Contingent liabilities

2024 2023
£ £
Total contingent liabilities 12,884 24,726

The Company is part of a group VAT registration. At 31 December 2024, the maximum contingent liability was £12,884 (2023: £24,726). No liability is expected to arise from other group members on this arrangement.

8. Ultimate controlling party

The company is controlled by The Point Organisation Limited, a company registered in England and Wales, by virtue of the fact it owns 100% of the issued share capital. This is also the company's ultimate controlling party and parent undertaking. The registered office is 4 Woolgate Court, St Benedicts Street, Norwich, Norfolk NR2 4AP.