Point North (International) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07857053 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2018

for

Point North (International) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

S C Grimley

Registered office:

Unit 6 New Russia Hall

Chester Road

Tattenhall

Cheshire

CH3 9AH

Registered number:

07857053 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Intangible assets

4

33,250

35,625

Tangible assets

5

2,340

1,553

35,590

37,178

Current assets

Stocks

54,300

49,000

Debtors

6

5,256

3,738

Cash at bank

36,279

35,808

95,835

88,546

Creditors

Amounts falling due within one year

7

60,671

84,484

Net current assets

35,164

4,062

Total assets less current liabilities

70,754

41,240

Provisions for liabilities

8

445

146

Net assets

70,309

41,094

Capital and reserves

Called up share capital

100

100

Retained earnings

70,209

40,994

Shareholders' funds

70,309

41,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 26 October 2018 and were signed by:

S C Grimley - Director

1.	Statutory information

Point North (International) 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.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of

ownership have transferred to the buyer, usually on despatch of the goods; the amount of

revenue can be measured reliably; it is probable that the associated economic benefits will

flow to the entity and the costs incurred or to be incurred in respect of the transactions can

be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty 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.

Fixtures, fittings and equipment

-

25% on cost

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 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.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 3 (2017 - 3 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 February 2017

and 31 January 2018

47,500

Amortisation

At 1 February 2017

11,875

Amortisation for year

2,375

At 31 January 2018

14,250

Net book value

At 31 January 2018

33,250

At 31 January 2017

35,625

5.	Tangible fixed assets

Fixtures,

fittings

and

equipment

£

Cost

At 1 February 2017

13,959

Additions

2,392

At 31 January 2018

16,351

Depreciation

At 1 February 2017

12,406

Charge for year

1,605

At 31 January 2018

14,011

Net book value

At 31 January 2018

2,340

At 31 January 2017

1,553

6.

Debtors: amounts falling due within one year

2018

2017

£

£

Other debtors

5,256

3,738

7.

Creditors: amounts falling due within one year

2018

2017

£

£

Trade creditors

34,817

32,218

Taxation and social security

24,072

22,990

Other creditors

1,782

29,276

60,671

84,484

8.	Provisions for liabilities

2018

2017

£

£

Deferred tax

Accelerated capital allowances

445

146

Deferred

tax

£

Balance at 1 February 2017

146

Charge to Income Statement during year

299

Balance at 31 January 2018

445

9.	Other financial commitments

At 31 January 2018 the company had total commitments under non-cancellable operating

leases over the remaining life of those leases of £10,695 of which £4,936 is due within one

year.

10.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended

31 January 2018 and 31 January 2017:

2018

2017

£

£

S C Grimley

Balance outstanding at start of year

-

-

Amounts advanced

7,475

-

Amounts repaid

(6,824

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

651

-

The balance is interest free and repayable on demand.