The Vantage Point Group Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03190002 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

THE VANTAGE POINT GROUP HOLDINGS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J H Denham

SECRETARY:

Mrs J S A Denham

REGISTERED OFFICE:

Fifth Floor

11 leadenhall Street

London

EC3V 1LP

REGISTERED NUMBER:

03190002 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Business Advisers and Accountants

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,604

2,139

Investments

6

100

36,081

1,704

38,220

CURRENT ASSETS

Debtors

7

140,164

109,804

Prepayments and accrued income

6,411

5,773

Cash at bank

305,777

149,802

452,352

265,379

CREDITORS

Amounts falling due within one year

8

62,443

73,927

NET CURRENT ASSETS

389,909

191,452

TOTAL ASSETS LESS CURRENT LIABILITIES

391,613

229,672

CREDITORS

Amounts falling due after more than one year

9

(43,000

)

(61,674

)

PROVISIONS FOR LIABILITIES

10

(79

)

-

ACCRUALS AND DEFERRED INCOME

(41,446

)

(13,416

)

NET ASSETS

307,088

154,582

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Share premium

525

525

Retained earnings

276,563

124,057

SHAREHOLDERS' FUNDS

307,088

154,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 26 May 2020 and were signed by:

Mr J H Denham - Director

1.	STATUTORY INFORMATION

The Vantage Point Group Holdings Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In preparing the financial statements, the directors are required to make estimates and judgements about the

carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are

based on historical experience and other factors that are considered by the directors to be relevant. Revision to

accounting estimates are recognised in the period in which the estimate is revised.

FIXED ASSETS INVESTMENTS

Investments in subsidiaries and other entities are held at cost or cost less the decrease in value where this is

appropriate.

TURNOVER

Turnover represents the value, net of value added tax and discounts, of services provided to customers. Turnover is

recognised when the event takes place.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been amortised

evenly over its estimated useful life of five years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

2% on cost

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized

in profit or loss.

For financial assets measured at amortized cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective

interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is

the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between

an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company

would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when

there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

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 statement of financial position date.

DEFERRED TAX

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

of financial position 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.

RESEARCH AND DEVELOPMENT

Research and development expenditure is written off in the profit and loss account in the year to which the

expenditure relates. The tax relief on research and development expenditure will be recognised in the financial

statements in the year it has been approved by HMRC.

FOREIGN CURRENCIES

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets

and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet

date. All differences are taken to the profit and loss account.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss

accounts as they become payable in accordance with rules of the scheme.

DIVIDENDS

Equity dividends are recognized when they become legally payable. Interim equity dividends are recognized when

paid. Final equity dividends are recognized when approved by the shareholders at an annual general meeting.

Dividends on shares recognized as liabilities are recognized as expenses and classified within interest payable.

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially

at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest

method, less any impairment.

CREDITORS

Short term creditors are measured at the transaction price. Loans from the director shareholders who are natural

persons are also measured at transaction price irrespective of duration. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 September 2018

and 31 August 2019

568,489

Amortisation

At 1 September 2018

and 31 August 2019

568,489

Net book value

At 31 August 2019

-

At 31 August 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

Cost

At 1 September 2018

and 31 August 2019

19,442

Depreciation

At 1 September 2018

17,303

Charge for year

535

At 31 August 2019

17,838

Net book value

At 31 August 2019

1,604

At 31 August 2018

2,139

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 September 2018

and 31 August 2019

359,918

Provisions

At 1 September 2018

323,837

Provision for year

35,981

At 31 August 2019

359,818

Net book value

At 31 August 2019

100

At 31 August 2018

36,081

The company's investments at the Statement of Financial Position date in the share capital of companies include

the following:

Travel Impact Limited

Registered office:

Nature of business: Non-trading

%

Class of shares:

holding

Ordinary

100.00

Preference

100.00

2019

2018

£

£

Aggregate capital and reserves

43,000

43,000

Vantage Point Limited

Registered office:

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2019

2018

£

£

Aggregate capital and reserves

100

100

Travel Impact Limited was acquired on 1 October 2008 and is a dormant company during the reporting year. The

investment is being written down at the rate of 10% per annum which represents its decrease in value.

Vantage Point Limited was incorporated on 9 February 2009 and is a dormant company.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

120,159

94,642

Other debtors

20,005

486

Deferred tax asset

-

14,676

140,164

109,804

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

22,147

Trade creditors

1,393

38,552

Taxation and social security

61,050

13,142

Other creditors

-

86

62,443

73,927

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Amounts owed to group undertakings

43,000

43,000

Amounts owed to shareholders

-

18,674

43,000

61,674

10.	PROVISIONS FOR LIABILITIES

2019

£

Deferred tax

79

Deferred

tax

£

Balance at 1 September 2018

(14,676

)

Utilised during year

14,755

Balance at 31 August 2019

79

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr J H Denham.