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Company No: 11452248 (England and Wales)

BLUE COMPASS CONSULTING LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

BLUE COMPASS CONSULTING LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

BLUE COMPASS CONSULTING LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2023
BLUE COMPASS CONSULTING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTOR Michelle Anne Woodward
REGISTERED OFFICE 84 Millbank Crescent Woodley
Reading
RG5 4ER
England
United Kingdom
COMPANY NUMBER 11452248 (England and Wales)
ACCOUNTANT Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ
BLUE COMPASS CONSULTING LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
BLUE COMPASS CONSULTING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 5,000 6,000
Tangible assets 4 2,588 3,046
7,588 9,046
Current assets
Debtors 5 37,023 580
Cash at bank and in hand 6 29,816 11,398
66,839 11,978
Creditors: amounts falling due within one year 7 ( 16,533) ( 2,208)
Net current assets 50,306 9,770
Total assets less current liabilities 57,894 18,816
Provision for liabilities ( 491) ( 579)
Net assets 57,403 18,237
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 57,303 18,137
Total shareholder's funds 57,403 18,237

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Blue Compass Consulting Limited (registered number: 11452248) were approved and authorised for issue by the Director on 23 January 2024. They were signed on its behalf by:

Michelle Anne Woodward
Director
BLUE COMPASS CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
BLUE COMPASS CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blue Compass Consulting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 84 Millbank Crescent Woodley, Reading, RG5 4ER, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2022 10,000 10,000
At 31 July 2023 10,000 10,000
Accumulated amortisation
At 01 August 2022 4,000 4,000
Charge for the financial year 1,000 1,000
At 31 July 2023 5,000 5,000
Net book value
At 31 July 2023 5,000 5,000
At 31 July 2022 6,000 6,000

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2022 4,736 4,736
At 31 July 2023 4,736 4,736
Accumulated depreciation
At 01 August 2022 1,690 1,690
Charge for the financial year 458 458
At 31 July 2023 2,148 2,148
Net book value
At 31 July 2023 2,588 2,588
At 31 July 2022 3,046 3,046

5. Debtors

2023 2022
£ £
Trade debtors 13,680 0
Other debtors 23,343 580
37,023 580

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 29,816 11,398

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 55 452
Taxation and social security 15,278 55
Other creditors 1,200 1,701
16,533 2,208

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Balance outstanding at start of year (476) 2,344
Amounts advanced 25,690 0
Amounts repaid (2,476) (2,820)
Balance outstanding at end of year 22,738 (476)

Interest on overdrawn director's loan account is charged in the accounts at the official rate. The loan to the director is unsecured and repayable on demand.