REGISTERED NUMBER: 06250506 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2023

for

Compass Consultancy Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M C Cailes

SECRETARY:

M C Cailes

REGISTERED OFFICE:

Marcaida Harwich Road

Wix

Manningtree

Essex

CO11 2RY

REGISTERED NUMBER:

06250506 (England and Wales)

ACCOUNTANTS:

Goody Chartered Accountants and Tax Advisors

Unit 8 Old Forge Court

Colchester Road

Elmstead Market

Colchester

Essex

CO7 7EA

FIXED ASSETS

Tangible assets

4

261,718

262,430

Investments

5

86,530

55,851

348,248

318,281

CURRENT ASSETS

Debtors

6

247

231

Prepayments and accrued income

-

21,670

Cash at bank

89,346

88,981

89,593

110,882

CREDITORS

Amounts falling due within one year

7

4,520

13,905

NET CURRENT ASSETS

85,073

96,977

TOTAL ASSETS LESS CURRENT LIABILITIES

433,321

415,258

CREDITORS

Amounts falling due after more than one year

8

(185,974

)

(185,975

)

PROVISIONS FOR LIABILITIES

(406

)

(541

)

NET ASSETS

246,941

228,742

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

245,941

227,742

SHAREHOLDERS' FUNDS

246,941

228,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 4 October 2023 and were signed by:

M C Cailes - Director

1.	STATUTORY INFORMATION

Compass Consultancy 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 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.

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.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2022

and 31 May 2023

263,297

12,963

276,260

DEPRECIATION

At 1 June 2022

3,452

10,378

13,830

Charge for year

66

646

712

At 31 May 2023

3,518

11,024

14,542

NET BOOK VALUE

At 31 May 2023

259,779

1,939

261,718

At 31 May 2022

259,845

2,585

262,430

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2022

55,851

Additions

91,592

Disposals

(60,913

)

At 31 May 2023

86,530

NET BOOK VALUE

At 31 May 2023

86,530

At 31 May 2022

55,851

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Other debtors

247

231

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Taxation and social security

2,380

12,305

Other creditors

2,140

1,600

4,520

13,905

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.23

31.5.22

£

£

Bank loans

185,974

185,975