REGISTERED NUMBER: SC519762 (Scotland)

Audited Financial Statements for the Year Ended 31 December 2024

for

Anchorpoint Group Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

37,664

19,677

CURRENT ASSETS

Stocks

143,411

398,911

Debtors

5

2,436,577

3,840,655

Cash at bank

1,839,023

1,439,898

4,419,011

5,679,464

CREDITORS

Amounts falling due within one year

6

(1,923,731

)

(3,069,033

)

NET CURRENT ASSETS

2,495,280

2,610,431

TOTAL ASSETS LESS CURRENT LIABILITIES

2,532,944

2,630,108

PROVISIONS FOR LIABILITIES

(9,417

)

(4,920

)

NET ASSETS

2,523,527

2,625,188

CAPITAL AND RESERVES

Called up share capital

110,004

110,004

Retained earnings

2,413,523

2,515,184

SHAREHOLDERS' FUNDS

2,523,527

2,625,188

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 Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

Mr Michael Paterson - Director

1.	STATUTORY INFORMATION

Anchorpoint Group Limited is a private company, limited by shares, domiciled in Scotland, registration number SC519762. The registered office is Anchorpoint House, Clashburn Close, Kinross KY13 8GD.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Anchorpoint Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, APGK Limited, Anchorpoint House, Clashburn Close, Kinross, Scotland, KY13 8GD.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of goods and services in respect of product handling solutions and office fit outs, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Turnover comprises the fair value of construction carried out in the year, based on an internal assessment of work carried out. Once the outcome of a construction contract can be estimated reliably, profit is recognised on a stage of contract completion basis by reference to either costs incurred to date and total forecast costs on the contract as a whole, or certified value.

Losses expected in bringing a contract to completion are recognised immediately as soon as they are forecast. Where the outcome of variations is uncertain, the company only recognised turnover and associated profit where it is probable that the client will approve the variation. Where the outcome of claims is uncertain, the company only recognises turnover when negotiations have reached an advanced stage such that it is probable that the customer will accept the claim.

Amounts due from construction contract customers which are included within debtors, represent turnover less progress payments received. Where progress payments exceed turnover and other contact balances, the excess is shown as amounts due to construction contract customers within current liabilities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Significant estimates and judgements

The preparation of financial statements required management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on an ongoing basis and revisions to estimates are recognised in the period in which the estimate is revised and in any future periods affected.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities relate to construction contract accounting as the values recognised are based on the proportion of work carried out on a contract by contract basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

90,393

Additions

30,984

At 31 December 2024

121,377

DEPRECIATION

At 1 January 2024

70,716

Charge for year

12,997

At 31 December 2024

83,713

NET BOOK VALUE

At 31 December 2024

37,664

At 31 December 2023

19,677

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,180,037

2,160,964

Amounts owed by group undertakings

780,297

1,003,566

Amounts recoverable on contract

385,027

521,151

Other debtors

91,216

154,974

2,436,577

3,840,655

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

554,527

1,074,808

Amounts owed to group undertakings

12,079

476,000

Taxation and social security

415,196

581,644

Other creditors

941,929

936,581

1,923,731

3,069,033

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

36,667

110,000

Between one and five years

-

45,833

36,667

155,833

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Clinton (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Mr Michael Paterson

Balance outstanding at start of year

-

-

Amounts advanced

17,958

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,958

-

10.	RELATED PARTY DISCLOSURES

Other loans of £47,712 (2023: £117,001) relate to loans from family members, employees and the APGK pension fund which the directors have control over. The total interest payment during the year was £468 (2023: £3,987).

11.	ULTIMATE PARENT ENTITY

The ultimate parent company is APGK Limited, a company incorporated in Scotland having its registered office at Anchorpoint House, Clashburn Close, Kinross, KY13 8GD.