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Compostela Limited

Financial Statements for the Year Ended 30 November 2023






Compostela Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: W Al Nashy
M Suarez Al Nashy





SECRETARY: M Suarez Al Nashy





REGISTERED OFFICE: 221 Cowbridge Road East
Canton
Cardiff
CF11 9AL





REGISTERED NUMBER: 05538456 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Compostela Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Compostela Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Compostela Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Compostela Limited and state those matters that we have agreed to state to the Board of Directors of Compostela Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Compostela Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Compostela Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Compostela Limited. You consider that Compostela Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Compostela Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


16 April 2024

Compostela Limited (Registered number: 05538456)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 174,111 174,237

CURRENT ASSETS
Stocks 54,800 52,700
Debtors 4 2,400 500
Cash at bank and in hand 1,475 6,904
58,675 60,104
CREDITORS
Amounts falling due within one year 5 131,441 133,511
NET CURRENT LIABILITIES (72,766 ) (73,407 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,345

100,830

CREDITORS
Amounts falling due after more than one
year

6

10,869

16,969
NET ASSETS 90,476 83,861

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 90,376 83,761
SHAREHOLDERS' FUNDS 90,476 83,861

Compostela Limited (Registered number: 05538456)

Balance Sheet - continued
30 November 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 5 April 2024 and were signed on its behalf by:





W Al Nashy - Director


Compostela Limited (Registered number: 05538456)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance

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.

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.

Compostela Limited (Registered number: 05538456)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 174,111 21,747 195,858
DEPRECIATION
At 1 December 2022 - 21,621 21,621
Charge for year - 126 126
At 30 November 2023 - 21,747 21,747
NET BOOK VALUE
At 30 November 2023 174,111 - 174,111
At 30 November 2022 174,111 126 174,237

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors & prepayments 2,400 500

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,174 5,324
Trade creditors 3,483 1,080
Taxes & social security costs 11,177 15,420
Other creditors & accruals 106,607 111,687
131,441 133,511

Compostela Limited (Registered number: 05538456)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 10,869 16,969