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REGISTERED NUMBER: 01785589 (England and Wales)















Unaudited Financial Statements For The Year Ended 29 February 2024

for

Compressors Limited

Compressors Limited (Registered number: 01785589)






Contents of the Financial Statements
For The Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Compressors Limited

Company Information
For The Year Ended 29 February 2024







DIRECTORS: Mr Simon Gallacher
Mrs Julie Gallacher





SECRETARY: Mrs Julie Gallacher





REGISTERED OFFICE: 145 Nottingham Road
Alfreton
Derbyshire
DE5 7FL





REGISTERED NUMBER: 01785589 (England and Wales)





ACCOUNTANTS: Pedley & Co.
Chartered Certified Accountants
82 Nottingham Road
Somercotes
Alfreton
Derbyshire
DE55 4LY

Compressors Limited (Registered number: 01785589)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 163,352 181,174
163,352 181,174

CURRENT ASSETS
Stocks 47,000 45,000
Debtors 6 209,346 224,468
Prepayments and accrued income 6,356 6,484
Cash at bank 153,316 164,607
416,018 440,559
CREDITORS
Amounts falling due within one year 7 373,722 267,306
NET CURRENT ASSETS 42,296 173,253
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,648

354,427

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 205,646 354,425
SHAREHOLDERS' FUNDS 205,648 354,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Compressors Limited (Registered number: 01785589)

Balance Sheet - continued
29 February 2024


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 8 July 2024 and were signed on its behalf by:





Mrs Julie Gallacher - Director


Compressors Limited (Registered number: 01785589)

Notes to the Financial Statements
For The Year Ended 29 February 2024

1. STATUTORY INFORMATION

Compressors 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

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.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on 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.

Compressors Limited (Registered number: 01785589)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 57,500
AMORTISATION
At 1 March 2023
and 29 February 2024 57,500
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 124,816 23,772 23,576 141,697 313,861
DEPRECIATION
At 1 March 2023 - 22,904 21,941 87,842 132,687
Charge for year - 217 409 17,196 17,822
At 29 February 2024 - 23,121 22,350 105,038 150,509
NET BOOK VALUE
At 29 February 2024 124,816 651 1,226 36,659 163,352
At 28 February 2023 124,816 868 1,635 53,855 181,174

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 209,346 224,468

Compressors Limited (Registered number: 01785589)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 341,049 174,947
Taxation and social security 31,938 92,250
Other creditors 735 109
373,722 267,306