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REGISTERED NUMBER: 00992277 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

COMPUTE (BRIDGEND) LIMITED

COMPUTE (BRIDGEND) LIMITED (REGISTERED NUMBER: 00992277)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMPUTE (BRIDGEND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs Glenda Pryce Hegarty
Mr Nicholas Guy Hegarty





SECRETARY: Mrs Glenda Pryce Hegarty





REGISTERED OFFICE: 8 Merthyr Mawr Road North
Bridgend
CF31 3NH





REGISTERED NUMBER: 00992277 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

COMPUTE (BRIDGEND) LIMITED (REGISTERED NUMBER: 00992277)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 383,699 367,237
Investment property 5 3,450,000 3,999,762
3,833,699 4,366,999

CURRENT ASSETS
Debtors 6 10,089,087 9,758,044
Cash and cash equivalents 2,792,048 1,191,613
12,881,135 10,949,657
CREDITORS
Amounts falling due within one year 7 441,881 150,206
NET CURRENT ASSETS 12,439,254 10,799,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,272,953

15,166,450

PROVISIONS FOR LIABILITIES 8 28,871 -
NET ASSETS 16,244,082 15,166,450

CAPITAL AND RESERVES
Called up share capital 9 80 80
Other reserves 10 (549,763 ) -
Retained earnings 10 16,793,765 15,166,370
SHAREHOLDERS' FUNDS 16,244,082 15,166,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

COMPUTE (BRIDGEND) LIMITED (REGISTERED NUMBER: 00992277)

BALANCE SHEET - continued
30 NOVEMBER 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 14 August 2024 and were signed on its behalf by:




Mr Nicholas Guy Hegarty - Director



Mrs Glenda Pryce Hegarty - Director


COMPUTE (BRIDGEND) LIMITED (REGISTERED NUMBER: 00992277)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Compute (Bridgend) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance

Investment property
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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.

COMPUTE (BRIDGEND) LIMITED (REGISTERED NUMBER: 00992277)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


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 11 (2022 - 11 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 December 2022 610,720 1,290,902 13,930 1,915,552
Additions 25,722 16,624 - 42,346
At 30 November 2023 636,442 1,307,526 13,930 1,957,898
DEPRECIATION
At 1 December 2022 355,498 1,181,809 11,008 1,548,315
Charge for year 12,729 12,571 584 25,884
At 30 November 2023 368,227 1,194,380 11,592 1,574,199
NET BOOK VALUE
At 30 November 2023 268,215 113,146 2,338 383,699
At 30 November 2022 255,222 109,093 2,922 367,237

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 3,999,762
Revaluations (549,762 )
At 30 November 2023 3,450,000
NET BOOK VALUE
At 30 November 2023 3,450,000
At 30 November 2022 3,999,762

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 (549,763 )
Cost 3,999,763
3,450,000

COMPUTE (BRIDGEND) LIMITED (REGISTERED NUMBER: 00992277)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 61,981 24,243
Amounts owed by associates 10,021,372 -
Prepayments 5,734 -
10,089,087 24,243

Amounts falling due after more than one year:
Amounts owed by associates - 9,733,801

Aggregate amounts 10,089,087 9,758,044

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,883 -
Trade creditors - 8,772
Tax 347,980 74,534
Social security and other taxes 51,221 45,800
VAT 18,600 17,405
Other creditors 915 -
Accruals and deferred income 8,282 3,695
441,881 150,206

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 28,871 -

Deferred
tax
£   
Charge to Income Statement during year 28,871
Balance at 30 November 2023 28,871

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
80 Ordinary £1 80 80

COMPUTE (BRIDGEND) LIMITED (REGISTERED NUMBER: 00992277)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


10. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 December 2022 15,166,370 - 15,166,370
Profit for the year 1,077,632 1,077,632
Revaluations 549,763 (549,763 ) -
At 30 November 2023 16,793,765 (549,763 ) 16,244,002

11. RELATED PARTY DISCLOSURES

Included within Debtors due within one year is a balance owed by HD Limited, a company owned by the directors. Amounts due to/from related parties are interest free and have no determined repayment date