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REGISTERED NUMBER: 01095016 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

Compton Developments Limited

Compton Developments Limited (Registered number: 01095016)






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 Developments Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr P Ballard
Mrs N Thomas
Mrs S R Ballard



SECRETARY: Mrs S R Ballard



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



REGISTERED NUMBER: 01095016 (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 Developments Limited (Registered number: 01095016)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1
Investments 5 5,000 5,000
5,001 5,001

CURRENT ASSETS
Stocks 98,878 98,878
Debtors 6 771,708 1,002,231
Cash at bank 14,616 7,243
885,202 1,108,352
CREDITORS
Amounts falling due within one year 7 6,148 11,947
NET CURRENT ASSETS 879,054 1,096,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,055

1,101,406

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 883,955 1,101,306
SHAREHOLDERS' FUNDS 884,055 1,101,406

Compton Developments Limited (Registered number: 01095016)

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 Developments Limited (Registered number: 01095016)

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

1. STATUTORY INFORMATION

Compton Developments 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.

Income on private housing sales is recognised only on the legal completion of the sale regardless of whether a contract exchange has taken place.

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 and 15% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Compton Developments Limited (Registered number: 01095016)

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

Pension costs and other post-retirement benefits
The company operates a self administered pension scheme. The funds are valued every three years by a professionally qualified independent actuary, the rates of contribution payable being determined by the actuary. Pension costs are accounted for on the basis of charging the expected cost of providing pensions over the period during which the company benefits from the employees' services.


Investments
Fixed asset investments are shown at cost incurred less provision for impairment.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 5,678 66,348 18,404 363 90,793
Disposals - - (18,404 ) - (18,404 )
At 31 October 2023 5,678 66,348 - 363 72,389
DEPRECIATION
At 1 November 2022 5,678 66,347 18,404 363 90,792
Eliminated on disposal - - (18,404 ) - (18,404 )
At 31 October 2023 5,678 66,347 - 363 72,388
NET BOOK VALUE
At 31 October 2023 - 1 - - 1
At 31 October 2022 - 1 - - 1

Compton Developments Limited (Registered number: 01095016)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 5,000
NET BOOK VALUE
At 31 October 2023 5,000
At 31 October 2022 5,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Compton Property Management
Registered office: 45-51 Wychtree Street, Morriston, Swansea, SA6 8EX
Nature of business: Property Management
%
Class of shares: holding
Ordinary 100.00
31.10.23 31.10.22
£    £   
Aggregate capital and reserves 2,837,598 2,815,249
Profit for the year 22,349 166,807

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts due from related companies 376,728 687,475
Sundry debtors 9,237 -
VAT 57 3,696
Deferred tax asset 383,011 310,628
Prepayments and accrued income 2,675 432
771,708 1,002,231

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Social security and other taxes 2,499 2,375
Other creditors 957 5,611
Accrued expenses 2,692 3,961
6,148 11,947

Compton Developments Limited (Registered number: 01095016)

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

8. 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

9. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £376,728 (2022 £687,475) due from associated company Tapestart Ltd. Tapestart Ltd acts as a clearing house for intercompany transactions between associated companies under common control.

10. ULTIMATE CONTROLLING PARTY

The directors do not consider there to be a single controlling party.