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Registered Number: 08271111


 

 

 


Abridged Accounts

for the period ended 31 December 2022

for

XXX COMPRESSION LIMITED

 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 36,487    4,611 
Investments 4 14,284   
50,771    4,611 
Current assets      
Stocks 281,820    155,400 
Debtors 29,081    60,621 
Cash at bank and in hand 62,310    87,894 
373,211    303,915 
Creditors: amount falling due within one year (155,735)   (253,367)
Net current assets 217,476    50,548 
 
Total assets less current liabilities 268,247    55,159 
Creditors: amount falling due after more than one year (222,643)   (20,000)
Net assets 45,604    35,159 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 45,504    35,059 
Shareholder's funds 45,604    35,159 
 


For the period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 30 September 2023 and were signed by:


-------------------------------
Asad Bashir
Director
1
General Information
XXX COMPRESSION LIMITED is a private company, limited by shares, registered in , registration number 08271111, registration address 12 HARVEST COURT,, YORK WAY WATFORD, Watford, WD25 9BP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 3 (2021 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 November 2021 9,500      2,000    11,500 
Additions 16,800    24,198      40,998 
Disposals      
At 31 December 2022 26,300    24,198    2,000    52,498 
Depreciation
At 01 November 2021 5,609      1,280    6,889 
Charge for period 4,138    4,840    144    9,122 
On disposals      
At 31 December 2022 9,747    4,840    1,424    16,011 
Net book values
Closing balance as at 31 December 2022 16,553    19,358    576    36,487 
Opening balance as at 01 November 2021 3,891      720    4,611 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 November 2021  
Additions 14,284    14,284 
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2022 14,284    14,284 

2