Workpoint Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01512656

Workpoint Limited

Filleted Unaudited Financial Statements

31 March 2025

Workpoint Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	1,141	714
Investments	6	3,830	23,791
		------	-------
		4,971	24,505

Current assets

Debtors	7	67,712	5,110
Cash at bank and in hand		36,508	88,526
		--------	-------
		104,220	93,636

Prepayments and accrued income	176		–

Creditors: amounts falling due within one year	8	4,312		3,219
		--------		-------
Net current assets			100,084	90,417
			--------	--------
Total assets less current liabilities			105,055	114,922
			--------	--------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		104,955	114,822
		--------	--------
Shareholders funds		105,055	114,922
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question 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 financial statements .

Workpoint Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 11 December 2025 , and are signed on behalf of the board by:

K.W. Upton

Director

Company registration number: 01512656

Workpoint Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered and trading in England and Wales with company number 01512656 . The address of the registered office is 116 Captains Lane, Barton Under Needwood, Staffs, DE13 8HA.

2. Statement of compliance

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.

Judgements in applying accounting policies and key sources of estimation in uncertainty

In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	25% reducing balance

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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: Nil).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2024	4,166	4,166
Additions	770	770
Disposals	( 2,963)	( 2,963)
	------	------
At 31 March 2025	1,973	1,973
	------	------
Depreciation
At 1 April 2024	3,452	3,452
Charge for the year	329	329
Disposals	( 2,949)	( 2,949)
	------	------
At 31 March 2025	832	832
	------	------
Carrying amount
At 31 March 2025	1,141	1,141
	------	------
At 31 March 2024	714	714
	------	------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024	23,791
Disposals	( 19,961)
	-------
At 31 March 2025	3,830
	-------
Impairment
At 1 April 2024 and 31 March 2025	–
	-------

Carrying amount
At 31 March 2025	3,830
	-------
At 31 March 2024	23,791
	-------

7. Debtors

	2025	2024
	£	£
Other debtors	67,712	5,110
	-------	------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	2,872	–
Other creditors	1,440	3,219
	------	------
	4,312	3,219
	------	------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

10. Directors' advances, credits and guarantees

At the reporting date the directors loan accounts were overdrawn by £54,175 (2024: £2,538 in credit). There is no fixed term for repayment and no interest is charged on credit balances. Transactions can be summarised as follows:

		2025
		£
	Opening Balance Brought Forward	(2,539)
	Net Advance / Repayments	56,215
	Interest	499
	Closing Blance Carried Forward	54,175

11. Related party transactions

The company was under the control of Mr. K.W. Upton throughout the current and previous period. During this period the company made a further loan of £15,000 available to a related party. no fixed term was agreed and interest is charged at 15%pa. £13,537 is outstanding at 31 March 2025.