Pointcrest Limited - Accounts to registrar (filleted) - small 18.2
Pointcrest Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2020 |
| for |
| POINTCREST LIMITED |
| POINTCREST LIMITED (REGISTERED NUMBER: 06600204) |
| Contents of the Financial Statements |
| for the year ended 30 June 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| POINTCREST LIMITED |
| Company Information |
| for the year ended 30 June 2020 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| 5-6 Greenfield Crescent |
| Edgbaston |
| Birmingham |
| B15 3BE |
| Bankers: |
| 39 Threadneedle Street |
| London |
| EC2R 8AU |
| POINTCREST LIMITED (REGISTERED NUMBER: 06600204) |
| Balance Sheet |
| 30 June 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| Current assets |
| Stocks |
| Debtors | 4 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 5 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
6 |
| Net assets |
| Capital and reserves |
| Called up share capital | 8 |
| Retained earnings | 9 |
| Shareholders' funds |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| 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 |
| POINTCREST LIMITED (REGISTERED NUMBER: 06600204) |
| Notes to the Financial Statements |
| for the year ended 30 June 2020 |
| 1. | Statutory information |
| Pointcrest Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Debtors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Prepayments |
| 5. | Creditors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| VAT | 16,966 | 15,983 |
| Other creditors |
| Directors' current accounts | 746 | 918 |
| POINTCREST LIMITED (REGISTERED NUMBER: 06600204) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2020 |
| 6. | Creditors: amounts falling due after more than one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 14,750 | 44,250 |
| 7. | Secured debts |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| The bank loan bears Interest at 2.5% above Lloyds Bank plc's base rate. The bank loan is repayable in quarterly instalment of capital and interest of £8,647 and is secured by a fixed and floating charges over the assets of the company. |
| 8. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | Reserves |
| Retained |
| earnings |
| £ |
| At 1 July 2019 |
| Profit for the year |
| At 30 June 2020 |
| 10. | Related party disclosures |
| At the year end the company owed £312,800 (2019: £175,800) to Venuebase Limited. This balance is included in other creditors.Venuebase Limited is related by way of M Winton's shareholding. |
| Included in other creditors is a balance of £150,000 (2019: £150,000) due to the spouse of E L Whattey, a director and shareholder of the company. |
| 11. | Controlling parties |
| The controlling parties are M Winton and E L Watthey. |