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Company Registration No. 11195136 (England and Wales)
Compass Point Potential Limited Unaudited accounts for the year ended 28 February 2023
Compass Point Potential Limited Unaudited accounts Contents
Page
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Compass Point Potential Limited Company Information for the year ended 28 February 2023
Directors
Kenneth Mark Sanderson Evans Anne Evans
Company Number
11195136 (England and Wales)
Registered Office
44 EASTFIELD ROAD ROSS-ON-WYE HR9 5JZ UNITED KINGDOM
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Compass Point Potential Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,398 
5,130 
Current assets
Debtors
800 
11,955 
Cash at bank and in hand
3,239 
3,353 
4,039 
15,308 
Creditors: amounts falling due within one year
(2,393)
(27,496)
Net current assets/(liabilities)
1,646 
(12,188)
Total assets less current liabilities
6,044 
(7,058)
Creditors: amounts falling due after more than one year
(6,126)
(7,188)
Net liabilities
(82)
(14,246)
Capital and reserves
Profit and loss account
(82)
(14,246)
Shareholders' funds
(82)
(14,246)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by
Kenneth Mark Sanderson Evans Director Company Registration No. 11195136
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Compass Point Potential Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Compass Point Potential Limited is a private company, limited by shares, registered in England and Wales, registration number 11195136. The registered office is 44 EASTFIELD ROAD, ROSS-ON-WYE, HR9 5JZ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
18%
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
2,725 
6,734 
9,459 
Additions
- 
235 
235 
At 28 February 2023
2,725 
6,969 
9,694 
Depreciation
At 1 March 2022
1,262 
3,067 
4,329 
Charge for the year
264 
703 
967 
At 28 February 2023
1,526 
3,770 
5,296 
Net book value
At 28 February 2023
1,199 
3,199 
4,398 
At 28 February 2022
1,463 
3,667 
5,130 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
800 
80 
Other debtors
- 
11,875 
800 
11,955 
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Compass Point Potential Limited Notes to the Accounts for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
11,892 
Taxes and social security
2,393 
- 
Loans from directors
- 
15,604 
2,393 
27,496 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
6,126 
7,188 
8
Average number of employees
During the year the average number of employees was 3 (2022: 2).
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