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REGISTERED NUMBER: 02691285 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

Compton Insurance Services Limited

Compton Insurance Services Limited (Registered number: 02691285)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Compton Insurance Services Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr P Ballard
Mrs S R Ballard



SECRETARY: Mr P Ballard



REGISTERED OFFICE: 45/51, Wychtree Street
Morriston
Swansea
West Glamorgan
SA6 8EX



REGISTERED NUMBER: 02691285 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Dylan Jones



AUDITORS: Cambrian & Co Ltd
Chartered Accountants & Statutory Auditors
13a Victoria Gardens
Neath
West Glamorgan
SA11 3AY

Compton Insurance Services Limited (Registered number: 02691285)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,376 16,666

CURRENT ASSETS
Debtors 5 6,757,530 6,133,056
Cash at bank 259,424 197,745
7,016,954 6,330,801
CREDITORS
Amounts falling due within one year 6 264,416 216,426
NET CURRENT ASSETS 6,752,538 6,114,375
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,761,914

6,131,041

PROVISIONS FOR LIABILITIES 3,167 3,167
NET ASSETS 6,758,747 6,127,874

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 6,758,745 6,127,872
SHAREHOLDERS' FUNDS 6,758,747 6,127,874

Compton Insurance Services Limited (Registered number: 02691285)

Balance Sheet - continued
31 October 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 9 July 2024 and were signed on its behalf by:





Mr P Ballard - Director


Compton Insurance Services Limited (Registered number: 02691285)

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

1. STATUTORY INFORMATION

Compton Insurance Services 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 represents commissions earned on the introduction of insurance policies and investments, and is recognised on an accruals basis.

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 - 25% on cost

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.

Compton Insurance Services Limited (Registered number: 02691285)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 132 42,489 42,621
DEPRECIATION
At 1 November 2022 132 25,823 25,955
Charge for year - 7,290 7,290
At 31 October 2023 132 33,113 33,245
NET BOOK VALUE
At 31 October 2023 - 9,376 9,376
At 31 October 2022 - 16,666 16,666

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 79,920 62,909
Amounts due from related companies 6,564,835 5,991,523
Prepayments 5,467 6,838
Accrued income 107,308 71,786
6,757,530 6,133,056

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Tax 185,462 153,172
Social security and other taxes 1,991 2,629
Other creditors 397 -
Deferred income 75,066 59,539
Accrued expenses 1,500 1,086
264,416 216,426

Compton Insurance Services Limited (Registered number: 02691285)

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

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Dylan Jones (Senior Statutory Auditor)
for and on behalf of Cambrian & Co Ltd

8. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £6,564,835 (2022 £5,991,523) due from associated company under common control Tapestart Ltd.

9. ULTIMATE CONTROLLING PARTY

The directors consider the ultimate controlling party to be the W Ballard Discretionary (No 2) Trust.