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Registration number: 04545263

Precisionpoint Software Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Precisionpoint Software Limited

Contents
for the Year Ended 31 December 2024

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Precisionpoint Software Limited

Company Information
for the Year Ended 31 December 2024

Directors

A Mennie

D Eldridge

Company secretary

Kin Company Secretarial Limited

Registered office

8 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

Registered number

04545263 ( England and Wales )

Accountants

Windsor Accountancy Limited
Chartered Certified AccountantsSt. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Precisionpoint Software Limited

(Registration number: 04545263)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,226

Investments

5

1

1

 

1

1,227

Current assets

 

Stocks

6

3,755

3,890

Debtors

7

1,365,667

1,942,089

Cash at bank and in hand

 

156,804

151,766

 

1,526,226

2,097,745

Creditors: Amounts falling due within one year

8

(378,866)

(251,093)

Net current assets

 

1,147,360

1,846,652

Total assets less current liabilities

 

1,147,361

1,847,879

Creditors: Amounts falling due after more than one year

8

(950,804)

(890,626)

Net assets

 

196,557

957,253

Capital and reserves

 

Called up share capital

470,987

470,987

Share premium reserve

4,009,989

4,009,989

Retained earnings

(4,284,419)

(3,523,723)

Shareholders' funds

 

196,557

957,253

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.

 

Precisionpoint Software Limited

(Registration number: 04545263)
Balance Sheet as at 31 December 2024

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 August 2025 and signed on its behalf by:
 

.........................................
A Mennie
Director

 

Precisionpoint Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
8 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

These financial statements were authorised for issue by the Board on 19 August 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 for the 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Precisionpoint Software Limited

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

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.

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

Computer equipment

33% Straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Precisionpoint Software Limited

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

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 and are not amortised. 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 are not amortised.

 

Precisionpoint Software Limited

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

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 11).

 

Precisionpoint Software Limited

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

157,823

157,823

At 31 December 2024

157,823

157,823

Depreciation

At 1 January 2024

156,597

156,597

Charge for the year

1,226

1,226

At 31 December 2024

157,823

157,823

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

1,226

1,226

5

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 January 2024

1

Provision

Carrying amount

At 31 December 2024

1

At 31 December 2023

1

6

Stocks

2024
£

2023
£

Work in progress

3,755

3,890

 

Precisionpoint Software Limited

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

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

47,060

22,158

Amounts owed by related parties

10

1,275,891

1,356,946

Prepayments

 

41,005

42,971

Other debtors

 

1,711

520,014

   

1,365,667

1,942,089

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,000

10,000

Trade creditors

 

26,699

12,204

Taxation and social security

 

108,242

46,685

Accruals and deferred income

 

223,034

174,903

Other creditors

 

10,891

7,301

 

378,866

251,093

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

950,804

890,626

 

Precisionpoint Software Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,520

16,616

Other borrowings

944,284

874,010

950,804

890,626

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

10

Related party transactions

Summary of transactions with subsidiaries

At the year end, the company was owed £1,275,891 (2023: £1,356,946) by the subsidiary company, PrecisionPoint Software Corporation.