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REGISTERED NUMBER: 06853249 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

COMPLIANCEASSIST LIMITED

COMPLIANCEASSIST LIMITED (REGISTERED NUMBER: 06853249)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMPLIANCEASSIST LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTOR: D J Hickman





REGISTERED OFFICE: Sussex Innovation Centre
Science Park Square
Falmer
Brighton
BN1 9SB





REGISTERED NUMBER: 06853249 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

COMPLIANCEASSIST LIMITED (REGISTERED NUMBER: 06853249)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 38,298 81,735
Tangible assets 5 2,019 1,542
40,317 83,277

CURRENT ASSETS
Debtors 6 160,764 161,876
Cash at bank 154,503 81,792
315,267 243,668
CREDITORS
Amounts falling due within one year 7 (135,727 ) (99,092 )
NET CURRENT ASSETS 179,540 144,576
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,857

227,853

CREDITORS
Amounts falling due after more than one
year

8

(22,439

)

(32,095

)

PROVISIONS FOR LIABILITIES 9 (424 ) (293 )
NET ASSETS 196,994 195,465

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 195,994 194,465
SHAREHOLDERS' FUNDS 196,994 195,465

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

COMPLIANCEASSIST LIMITED (REGISTERED NUMBER: 06853249)

BALANCE SHEET - continued
31 March 2023


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 29 September 2023 and were signed by:





D J Hickman - Director


COMPLIANCEASSIST LIMITED (REGISTERED NUMBER: 06853249)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Complianceassist 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services, excluding value added tax. Revenue is recognised at the point in time when the compliance services are completed and transferred to the customer.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

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

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Fixtures and fittings - 25% on reducing balance
Computer equipment - 50% on reducing balance

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.


COMPLIANCEASSIST LIMITED (REGISTERED NUMBER: 06853249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2022 369,979
Additions 57,161
At 31 March 2023 427,140
AMORTISATION
At 1 April 2022 288,244
Amortisation for year 100,598
At 31 March 2023 388,842
NET BOOK VALUE
At 31 March 2023 38,298
At 31 March 2022 81,735

COMPLIANCEASSIST LIMITED (REGISTERED NUMBER: 06853249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 3,508 15,116 18,624
Additions - 2,059 2,059
At 31 March 2023 3,508 17,175 20,683
DEPRECIATION
At 1 April 2022 2,632 14,450 17,082
Charge for year 219 1,363 1,582
At 31 March 2023 2,851 15,813 18,664
NET BOOK VALUE
At 31 March 2023 657 1,362 2,019
At 31 March 2022 876 666 1,542

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 151,455 151,464
Other debtors 9,309 10,412
160,764 161,876

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,950 10,000
Trade creditors 19,234 15,240
Taxation and social security 68,766 37,347
Other creditors 37,777 36,505
135,727 99,092

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 22,439 32,095

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 424 293

COMPLIANCEASSIST LIMITED (REGISTERED NUMBER: 06853249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 293
Provided during year 131
Balance at 31 March 2023 424

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
903 Ordinary £1 903 903
97 Ordinary £1 97 97
1,000 1,000

11. NEGATIVE RETAINED EARNINGS

Under s830 of the Companies Act 2006 a company is prohibited from making a distribution except out of profits available for this purpose. If at the time of distribution the members know or have reasonable grounds for knowing that a distribution is unlawful they are liable to repay it (or that part of it, as the case may be) to the company in the event of a winding up as stipulated by s847 of the Companies Act 2006.

At the time the dividend was paid the directors were not aware that there were insufficient profits available for distribution and the directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose