ACCOUNTS - Final Accounts

Share capital

Shares classified as equity

PASSIONPOINT LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse2016-04-01falseThe principal activity of the company was that of brand consultancy. 08383488 2016-04-01 2017-03-31 08383488 2015-04-01 2016-03-31 08383488 2017-03-31 08383488 2016-03-31 08383488 c:Director1 2016-04-01 2017-03-31 08383488 d:CurrentFinancialInstruments 2017-03-31 08383488 d:CurrentFinancialInstruments 2016-03-31 08383488 d:Non-currentFinancialInstruments 2017-03-31 08383488 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 08383488 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-31 08383488 d:ShareCapital 2017-03-31 08383488 d:ShareCapital 2016-03-31 08383488 d:RetainedEarningsAccumulatedLosses 2017-03-31 08383488 d:RetainedEarningsAccumulatedLosses 2016-03-31 08383488 c:OrdinaryShareClass1 2016-04-01 2017-03-31 08383488 c:OrdinaryShareClass1 2017-03-31 08383488 c:FRS102 2016-04-01 2017-03-31 08383488 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 08383488 c:FullAccounts 2016-04-01 2017-03-31 08383488 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number:08383488

PASSIONPOINT LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017


PASSIONPOINT LTD

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


PASSIONPOINT LTD REGISTERED NUMBER:08383488

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2017

		2017		2016
Note		£		£

Fixed assets
Investments			50		-
			50		-
Current assets
Debtors	5	2,135		80,822
Cash at bank and in hand		295,213		180,313
		297,348		261,135
Current liabilities
Creditors: amounts falling due within one year	6	(17,664)		(21,543)
Net current assets			279,684		239,592
Total assets less current liabilities			279,734		239,592

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		279,634	239,492
		279,734	239,592

The directors consider 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 year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their 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 comprehensive income 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 2 February 2018.

D Day

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


PASSIONPOINT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.	General information

Passionpoint is a limited liability company registered in England and Wales. The Company's registered office address is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.

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

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2.3

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the
year, exclusive of Value Added Tax and trade discounts.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.5

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.

2.6

Creditors

Short term creditors are measured at the transaction price. 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.

2.7

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2


PASSIONPOINT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.Accounting policies (continued)

2.8

Taxation

Tax is recognised in the Statement of Comprehensive Income, 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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2016 - 2).

4.	Fixed asset investments

		Investments in associates
		£
	Cost or valuation
	Additions	50
	At 31 March 2017	50

	Net book value
	At 31 March 2017	50
	At 31 March 2016	-

Debtors

					2017	2016
					£	£


Trade debtors	-	79,350
Other debtors	2,035	-
Called up share capital not paid	100	100
Prepayments and accrued income	-	1,372
	2,135	80,822

Page 3


PASSIONPOINT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	57	1,706
Corporation tax	15,105	8,624
Other taxation and social security	-	9,172
Other creditors	752	250
Accruals and deferred income	1,750	1,791
	17,664	21,543

Page 4


PASSIONPOINT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Allotted, called up and fully paid

100 Ordinary shares of £1 each	100	100

8.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 5