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Company Registration No. 12592153 (England and Wales)
Compass Business Broker Ltd Unaudited accounts for the year ended 30 April 2024
Compass Business Broker Ltd Unaudited accounts Contents
Page
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Compass Business Broker Ltd Company Information for the year ended 30 April 2024
Director
Kevin Hammon
Company Number
12592153 (England and Wales)
Registered Office
Elm House, 10 Fountain Court New Leaze Bradley Stoke, Bristol BS32 4LA United Kingdom
Accountants
Evans Entwistle 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Compass Business Broker Ltd for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Compass Business Broker Ltd for the year ended 30 April 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA 18 July 2024
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Compass Business Broker Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
15,667 
26,667 
Tangible assets
- 
297 
15,667 
26,964 
Current assets
Debtors
5,760 
1,745 
Cash at bank and in hand
5,777 
24,069 
11,537 
25,814 
Creditors: amounts falling due within one year
(7,723)
(8,507)
Net current assets
3,814 
17,307 
Total assets less current liabilities
19,481 
44,271 
Creditors: amounts falling due after more than one year
(9,692)
(43,054)
Net assets
9,789 
1,217 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
9,788 
1,216 
Shareholders' funds
9,789 
1,217 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 July 2024 and were signed on its behalf by
Kevin Hammon Director Company Registration No. 12592153
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Compass Business Broker Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Compass Business Broker Ltd is a private company, limited by shares, registered in England and Wales, registration number 12592153. The registered office is Elm House, 10 Fountain Court, New Leaze, Bradley Stoke, Bristol, BS32 4LA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Intangible fixed assets relates to franchise fees & are written off over 5 years
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 years straight line
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Compass Business Broker Ltd Notes to the Accounts for the year ended 30 April 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 May 2023
55,000 
At 30 April 2024
55,000 
Amortisation
At 1 May 2023
28,333 
Charge for the year
11,000 
At 30 April 2024
39,333 
Net book value
At 30 April 2024
15,667 
At 30 April 2023
26,667 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 May 2023
893 
At 30 April 2024
893 
Depreciation
At 1 May 2023
596 
Charge for the year
297 
At 30 April 2024
893 
Net book value
At 30 April 2024
- 
At 30 April 2023
297 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,760 
672 
Other debtors
- 
1,073 
5,760 
1,745 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,087 
3,672 
Trade creditors
- 
16 
Taxes and social security
5,371 
919 
Other creditors
305 
3,000 
Accruals
960 
900 
7,723 
8,507 
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Compass Business Broker Ltd Notes to the Accounts for the year ended 30 April 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
9,692 
43,054 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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