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Registered Number: 05638674
England and Wales

 

 

 

COMPASS SECURITY INNOVATIONS LIMITED


Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Directors Mark John Boyd
Nicola Slade
Registered Number 05638674
Registered Office UWM House
6 Fusion Court
Leeds
West Yorkshire
LS25 2GH
Accountants UWM Accountants
UWM House
6 Fusion Court
Garforth
Leeds
LS25 2GH
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 181,642    197,189 
181,642    197,189 
Current assets      
Debtors 4 335,337    374,267 
Cash at bank and in hand 297,196    404,580 
632,533    778,847 
Creditors: amount falling due within one year 5 (101,045)   (206,997)
Net current assets 531,488    571,850 
 
Total assets less current liabilities 713,130    769,039 
Provisions for liabilities 6 (5,825)   (8,112)
Net assets 707,305    760,927 
 

Capital and reserves
     
Called up share capital 999    999 
Profit and loss account 706,306    759,928 
Shareholders' funds 707,305    760,927 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 16 May 2024 and were signed on its behalf by:


-------------------------------
Mark John Boyd
Director
2
General Information
Compass Security Innovations Limited is a private company, limited by shares, registered in England and Wales, registration number 05638674, registration address UWM House, 6 Fusion Court, Leeds, West Yorkshire, LS25 2GH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25% RB
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 6 (2022 : 7).
3.

Tangible fixed assets

Cost or valuation Investment properties   Plant and machinery etc   Total
  £   £   £
At 01 December 2022 135,000    104,922    239,922 
Additions    
Disposals    
At 30 November 2023 135,000    104,922    239,922 
Depreciation
At 01 December 2022   42,733    42,733 
Charge for year   15,547    15,547 
On disposals    
At 30 November 2023   58,280    58,280 
Net book values
Closing balance as at 30 November 2023 135,000    46,642    181,642 
Opening balance as at 01 December 2022 135,000    62,189    197,189 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 172,252    373,959 
Other Debtors 163,085    308 
335,337    374,267 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 17,456    7,758 
Taxation and Social Security 60,638    54,103 
Other Creditors 22,951    145,136 
101,045    206,997 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 5,825    8,112 
5,825    8,112 

3