Scott Compass Limited 02467609 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Construction Digita Accounts Production Advanced 6.30.9574.0 true true 02467609 2023-01-01 2023-12-31 02467609 2023-12-31 02467609 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02467609 bus:SmallEntities 2023-01-01 2023-12-31 02467609 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02467609 bus:FilletedAccounts 2023-01-01 2023-12-31 02467609 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02467609 bus:RegisteredOffice 2023-01-01 2023-12-31 02467609 bus:Director1 2023-01-01 2023-12-31 02467609 bus:Director2 2023-01-01 2023-12-31 02467609 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02467609 core:OtherRelatedParties 2023-01-01 2023-12-31 02467609 countries:EnglandWales 2023-01-01 2023-12-31 02467609 2022-01-01 2022-12-31 02467609 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02467609

Scott Compass Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Scott Compass Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Scott Compass Limited

Company Information

Directors

Mr DN Pembroke

Revd Y L Tulloch

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Scott Compass Limited

(Registration number: 02467609)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Creditors: Amounts falling due within one year

4

(15,040)

(14,536)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(15,140)

(14,636)

Shareholders' deficit

 

(15,040)

(14,536)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 13 June 2024 and signed on its behalf by:
 

.........................................
Mr DN Pembroke
Director

 

Scott Compass Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
England

These financial statements were authorised for issue by the Board on 13 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company's balance sheet showed a net liability position as at 31 December 2023.

The director has arranged adequate funding to finance the company's continued activities and to enable it to pay its debts as and when they fall due for payment. Accordingly, the director considers that the company is a going concern and the financial statements have been prepared on that basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

Scott Compass Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

34

34

Accruals and deferred income

504

-

Other creditors

14,502

14,502

15,040

14,536

 

Scott Compass Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Related party transactions

Summary of transactions with other related parties

As at 31 December 2023 the company owed £3,762 (2022: £4,066) to Mark Scott Construction Ltd, a company in which Mr D N Pembroke is a majority shareholder.