Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-3022The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-12-01Investment companyfalsetrue 07861084 2022-12-01 2023-11-30 07861084 2021-12-01 2022-11-30 07861084 2023-11-30 07861084 2022-11-30 07861084 c:Director2 2022-12-01 2023-11-30 07861084 d:CurrentFinancialInstruments 2023-11-30 07861084 d:CurrentFinancialInstruments 2022-11-30 07861084 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 07861084 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 07861084 d:ShareCapital 2023-11-30 07861084 d:ShareCapital 2022-11-30 07861084 d:RetainedEarningsAccumulatedLosses 2023-11-30 07861084 d:RetainedEarningsAccumulatedLosses 2022-11-30 07861084 c:FRS102 2022-12-01 2023-11-30 07861084 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07861084 c:FullAccounts 2022-12-01 2023-11-30 07861084 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07861084 6 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 07861084









COMPASS LEISURE INVESTMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
COMPASS LEISURE INVESTMENTS LTD
REGISTERED NUMBER: 07861084

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Fixed Asset Investments
  
901,499
901,976

  
901,499
901,976

Current assets
  

Debtors: amounts falling due within one year
 5 
4,540,002
4,540,002

  
4,540,002
4,540,002

Creditors: amounts falling due within one year
 6 
(5,380,405)
(5,380,405)

Net current liabilities
  
 
 
(840,403)
 
 
(840,403)

Total assets less current liabilities
  
61,096
61,573

  

Net assets
  
61,096
61,573


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
61,094
61,571

  
61,096
61,573


Page 1

 
COMPASS LEISURE INVESTMENTS LTD
REGISTERED NUMBER: 07861084
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N J Gourgey
Director

Date: 20 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
COMPASS LEISURE INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The principal activity of the company is an investment company.
The company is a private company limited by shares and is incorporated in England and Wales.
The Registered Office address is 35 Ballards Lane, London N3 1XW.
The functional and presentational currency of the company is GBP and the accounts have been rounded to the nearest one pound. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the
Company will continue to trade for the foreseeable future, being a period of at least twelve months
from the date of approval of these financial statements, and will be able to meet its debts as they fall
due.
The Company is reliant on the ongoing support from the related parties, which the directors have confirmed.
The Company made a loss of £477 during the year and had net current liabilities of £840,403 and net assets of £61,096.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.4

Financial instruments


The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at
Page 3

 
COMPASS LEISURE INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.4
Financial instruments (continued)

the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
COMPASS LEISURE INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 December 2022
901,976


Disposals
(477)



At 30 November 2023
901,499




Page 5

 
COMPASS LEISURE INVESTMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
4,540,000
4,540,000

Called up share capital not paid
2
2

4,540,002
4,540,002



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
5,380,405
5,380,405

5,380,405
5,380,405



7.


Related party transactions

The directors have varying interests in a number of other companies, either as directors and/or  participators, with whom transactions have taken place.
 
Included in other debtors is a balance of £1,000,000 (2022: £1,000,000) owed from a company under common control. This balance is unsecured and interest free, with no fixed repayment terms.
 
Included within other debtors are balances of £3,540,000 (2022: £3,540,000) owed from connected companies. These balances are unsecured and interest free, with no fixed repayment terms.
Included within other creditors are balances totalling £5,380,405 (2022: £5,380,405) owed to connected companies. These balances are unsecured and interest free, with no fixed repayment terms.

 
Page 6