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Registration number: 03465737

Compass Care Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Compass Care Homes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Compass Care Homes Limited

Company Information

Directors

I Lal

MK Lal

Company secretary

MK Lal

Registered office

South Park
10 & 11 Park Drive South
Gledholt Huddersfield
WEST YORKSHIRE
HD1 4HT

 

Compass Care Homes Limited

(Registration number: 03465737)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

22,203

22,667

Current assets

 

Debtors

5

364,706

304,190

Cash at bank and in hand

 

119,892

96,559

 

484,598

400,749

Creditors: Amounts falling due within one year

6

(178,598)

(166,775)

Net current assets

 

306,000

233,974

Total assets less current liabilities

 

328,203

256,641

Provisions for liabilities

(4,219)

(4,325)

Net assets

 

323,984

252,316

Capital and reserves

 

Called up share capital

10

10

Retained earnings

323,974

252,306

Shareholders' funds

 

323,984

252,316

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Compass Care Homes Limited

(Registration number: 03465737)
Balance Sheet as at 30 September 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 March 2024 and signed on its behalf by:
 

.........................................
I Lal
Director

.........................................
MK Lal
Company secretary and director

 

Compass Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
South Park
10 & 11 Park Drive South
Gledholt Huddersfield
WEST YORKSHIRE
HD1 4HT

These financial statements were authorised for issue by the Board on 2 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Compass Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

10% on reducing balance

Plant and machinery

10% on reducing balance

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

25% on straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Compass Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2022 - 21).

 

Compass Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Improvements to property
 £

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 October 2022

18,840

22,672

51,209

3,601

Additions

-

528

2,367

-

At 30 September 2023

18,840

23,200

53,576

3,601

Depreciation

At 1 October 2022

14,860

17,514

40,983

3,374

Charge for the year

398

853

1,259

80

At 30 September 2023

15,258

18,367

42,242

3,454

Carrying amount

At 30 September 2023

3,582

4,833

11,334

147

At 30 September 2022

3,980

5,158

10,226

227

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

7,495

103,817

Additions

-

2,895

At 30 September 2023

7,495

106,712

Depreciation

At 1 October 2022

4,419

81,150

Charge for the year

769

3,359

At 30 September 2023

5,188

84,509

Carrying amount

At 30 September 2023

2,307

22,203

At 30 September 2022

3,076

22,667

 

Compass Care Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

364,466

303,966

Prepayments

 

240

224

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

625

609

Taxation and social security

30,189

19,561

Accruals and deferred income

936

912

Other creditors

146,848

145,693

178,598

166,775