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REGISTERED NUMBER: SC601255 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Compliance Lev Ltd.

Compliance Lev Ltd. (Registered number: SC601255)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Compliance Lev Ltd.

Company Information
for the Year Ended 31 May 2023







DIRECTORS: K Simmonds
D Taylor





SECRETARY:





REGISTERED OFFICE: Langdale
Crosshill
Near Skares
KA18 2RE





REGISTERED NUMBER: SC601255 (Scotland)





ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT

Compliance Lev Ltd. (Registered number: SC601255)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,222 -
Tangible assets 5 176,739 74,076
187,961 74,076

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 6 315,339 242,356
Cash at bank and in hand 616,727 470,000
942,066 722,356
CREDITORS
Amounts falling due within one year 7 191,575 218,394
NET CURRENT ASSETS 750,491 503,962
TOTAL ASSETS LESS CURRENT
LIABILITIES

938,452

578,038

PROVISIONS FOR LIABILITIES 20,000 18,000
NET ASSETS 918,452 560,038

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 918,432 560,018
SHAREHOLDERS' FUNDS 918,452 560,038

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 directors acknowledge their 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.

Compliance Lev Ltd. (Registered number: SC601255)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





K Simmonds - Director


Compliance Lev Ltd. (Registered number: SC601255)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Compliance Lev Ltd. is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

Class of Tangible AssetDepreciation policy
Property improvementsstraight line over 25 years or period of lease if shorter
Plant and machinerystraight line over 10 years
Motor vehiclesstraight line over 5 years
Computerised equipmentstraight line over 3 years

Depreciation is provided annually once assets are brought into use

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Compliance Lev Ltd. (Registered number: SC601255)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 16,750
At 31 May 2023 16,750
AMORTISATION
Charge for year 5,528
At 31 May 2023 5,528
NET BOOK VALUE
At 31 May 2023 11,222

Compliance Lev Ltd. (Registered number: SC601255)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 - 99,674 99,674
Additions 81,124 45,721 126,845
Disposals - (786 ) (786 )
At 31 May 2023 81,124 144,609 225,733
DEPRECIATION
At 1 June 2022 - 25,598 25,598
Charge for year - 23,475 23,475
Eliminated on disposal - (79 ) (79 )
At 31 May 2023 - 48,994 48,994
NET BOOK VALUE
At 31 May 2023 81,124 95,615 176,739
At 31 May 2022 - 74,076 74,076

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 260,792 237,119
Other debtors 54,547 5,237
315,339 242,356

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts - 421
Trade creditors 66,362 66,611
Taxation and social security 35,882 99,274
Other creditors 89,331 52,088
191,575 218,394

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Amounts advanced by directors are interest free and repayable on demand. Balances are included in Other creditors.

9. ULTIMATE CONTROLLING PARTY

The controlling party is K Simmonds.