Point 1 Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08620353 (England and Wales)

POINT 1 SOLUTIONS LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J M Ward

REGISTERED OFFICE:

65 Sempill Road

Hemel Hempstead

HP3 9PF

REGISTERED NUMBER:

08620353 (England and Wales)

ACCOUNTANTS:

Pomroy Associates Ltd

Chartered Accountants

Weltech Centre

Ridgeway

Welwyn Garden City

Hertfordshire

AL7 2AA

FIXED ASSETS

Tangible assets

4

2,178

3,010

CURRENT ASSETS

Debtors

5

161,003

49,718

Cash at bank

17

4,018

161,020

53,736

CREDITORS

Amounts falling due within one year

6

161,338

103,235

NET CURRENT LIABILITIES

(318

)

(49,499

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,860

(46,489

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

1,859

(46,490

)

SHAREHOLDERS' FUNDS

1,860

(46,489

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director on 11 February 2019 and were signed by:

J M Ward - Director

1.	STATUTORY INFORMATION

Point 1 Solutions Ltd 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.

Tangible fixed assets

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

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

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 6 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 August 2017

and 31 July 2018

4,713

DEPRECIATION

At 1 August 2017

1,703

Charge for year

832

At 31 July 2018

2,535

NET BOOK VALUE

At 31 July 2018

2,178

At 31 July 2017

3,010

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

161,003

49,718

Other debtors includes £121,958 (2017 - £33,705) owed by J Ward, the director.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

2,373

Taxation and social security

124,392

100,862

Other creditors

36,946

-

161,338

103,235

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,000,000

Preference

0.000001

1

1