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Registered number: 11798834
Point Eng Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Harris Lacey and Swain
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11798834
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 39
Tangible Assets 5 72,966 102,317
72,966 102,356
CURRENT ASSETS
Stocks 6 35,200 40,307
Debtors 7 129,304 308,301
Cash at bank and in hand 86,250 2,953
250,754 351,561
Creditors: Amounts Falling Due Within One Year 8 (184,292 ) (343,786 )
NET CURRENT ASSETS (LIABILITIES) 66,462 7,775
TOTAL ASSETS LESS CURRENT LIABILITIES 139,428 110,131
Creditors: Amounts Falling Due After More Than One Year 9 (1,667 ) (11,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,864 ) (15,430 )
NET ASSETS 123,897 83,034
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 123,887 83,024
SHAREHOLDERS' FUNDS 123,897 83,034
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P A Waters
Director
23/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Point Eng Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11798834 . The registered office is Lee Smith Street, Hull, HU9 1SD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors’ best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.
2.3. Turnover
Revenue comprises the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of the company's activities. Revenue is shown net of 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 when specific criteria have been met for each of the group's activities as described below.
The company provides engineering services to other organisations and people, and these services are provided on a time and material basis or as a fixed price contract.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 5 years. This is now fully amortised.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on cost
Motor Vehicles 25% on reducing balance and 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2024: 15)
16 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 2,454
As at 31 March 2025 2,454
Amortisation
As at 1 April 2024 2,415
Provided during the period 39
As at 31 March 2025 2,454
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 39
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 147,577 33,640 10,764 9,695 201,676
Additions 24,473 - 26 - 24,499
Disposals (62,445 ) - - - (62,445 )
As at 31 March 2025 109,605 33,640 10,790 9,695 163,730
Depreciation
As at 1 April 2024 61,731 24,268 5,381 7,979 99,359
...CONTINUED
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Page 5
Provided during the period 22,158 2,422 1,485 1,716 27,781
Disposals (36,376 ) - - - (36,376 )
As at 31 March 2025 47,513 26,690 6,866 9,695 90,764
Net Book Value
As at 31 March 2025 62,092 6,950 3,924 - 72,966
As at 1 April 2024 85,846 9,372 5,383 1,716 102,317
6. Stocks
2025 2024
£ £
Stock 1,500 2,007
Work in progress 33,700 38,300
35,200 40,307
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 107,037 281,490
Other debtors 22,267 26,811
129,304 308,301
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 124,282 236,754
Bank loans and overdrafts 10,000 10,000
Other creditors 17,196 82,427
Taxation and social security 32,814 14,605
184,292 343,786
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,667 11,667
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
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