ACCOUNTS - Final Accounts preparation

HIGHPOINT MANAGEMENT CONSULTING LIMITED - Company Information

Company registration number: 11756597

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 MARCH 2020

	HIGHPOINT MANAGEMENT CONSULTING LIMITED


HIGHPOINT MANAGEMENT CONSULTING LIMITED

COMPANY INFORMATION

Director	P A Robson (appointed 8 January 2019)


Registered number	11756597


Registered office	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


Accountants	Menzies LLP
	Chartered Accountants
	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


HIGHPOINT MANAGEMENT CONSULTING LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 5


HIGHPOINT MANAGEMENT CONSULTING LIMITED REGISTERED NUMBER:11756597

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2020

		31 March 2020
Note		£

Fixed assets
Tangible assets	4		225
			225
Current assets
Debtors: amounts falling due within one year	5	13,549
Cash at bank and in hand		3,033
		16,582
Creditors: amounts falling due within one year	6	(10,701)
Net current assets			5,881
Total assets less current liabilities			6,106

Net assets			6,106

Capital and reserves
Allotted, called up and fully paid share capital			100
Profit and loss account			6,006
			6,106

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 June 2020.

P A Robson

Page 1


HIGHPOINT MANAGEMENT CONSULTING LIMITED REGISTERED NUMBER:11756597

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2020

Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2


HIGHPOINT MANAGEMENT CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

1.	General information

Highpoint Management Consulting Limited is a private company, limited by shares, and incorporated in England and Wales, company registration number 11756597.
The company's principal place of business is 2a Nightingale Road, Guilford, Surrey, GU1 1ER.
The registered office is disclosed on the company information page.
The financial statements are presented in sterling which is the functional currency of the company and rounded to
the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going Concern

The emergence and spread of COVID-19 around the company’s year end and the associated government actions have significantly impacted business life. As a result of the pandemic, the company has experienced a fall in the volume of consulting assignments although, given the current uncertainties over the duration and extent of the pandemic, it is not possible to reliably forecast the extent of this impact at this stage. In response to the pandemic and uncertainty, the director has taken measures to safeguard cashflow and clients of the company which he believes should enable it to continue in operational existence. Therefore, it is the director’s opinion that the going concern basis of preparation continues to be appropriate.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


HIGHPOINT MANAGEMENT CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

25%

Straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the period was 1.

Page 4


HIGHPOINT MANAGEMENT CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	Additions	300
	At 31 March 2020	300
	Depreciation
	Charge for the period on owned assets	75
	At 31 March 2020	75
	Net book value
	At 31 March 2020	225

Debtors

					31 March 2020
					£


	Trade debtors	13,325
	Prepayments and accrued income	224
		13,549

6.	Creditors: Amounts falling due within one year
		31 March 2020
		£

	Corporation tax	7,104
	Other creditors	597
	Accruals and deferred income	3,000
		10,701

Page 5