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REGISTERED NUMBER: 05603982 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Compass Networks Limited

Compass Networks Limited (Registered number: 05603982)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Compass Networks Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: P Ashton





REGISTERED OFFICE: Tenby Place
102 Selby Road
West Bridgford
Nottingham
NG2 7BA





REGISTERED NUMBER: 05603982 (England and Wales)





ACCOUNTANTS: Global Payroll Services Ltd
Tenby Place
102 Selby Road
West Bridgford
Nottingham
NG2 7BA

Compass Networks Limited (Registered number: 05603982)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 518 180

CURRENT ASSETS
Debtors 5 33,888 36,408
Cash at bank 24,561 49,123
58,449 85,531
CREDITORS
Amounts falling due within one year 6 9,053 17,967
NET CURRENT ASSETS 49,396 67,564
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,914

67,744

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 49,814 67,644
SHAREHOLDERS' FUNDS 49,914 67,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19 July 2024 and were signed by:





P Ashton - Director


Compass Networks Limited (Registered number: 05603982)

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

1. STATUTORY INFORMATION

Compass Networks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% straight line

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.

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 2 (2022 - 2 ) .

Compass Networks Limited (Registered number: 05603982)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 3,112
Additions 620
Disposals (1,600 )
At 31 October 2023 2,132
DEPRECIATION
At 1 November 2022 2,932
Charge for year 282
Eliminated on disposal (1,600 )
At 31 October 2023 1,614
NET BOOK VALUE
At 31 October 2023 518
At 31 October 2022 180

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 4,888 5,908
Other debtors 29,000 30,500
33,888 36,408

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Taxation and social security 8,906 17,879
Other creditors 147 88
9,053 17,967