Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09508320 Mr Kevin Dennis Miss Clare Spearing Mr K Dennis false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09508320 2023-03-31 09508320 2024-03-31 09508320 2023-04-01 2024-03-31 09508320 frs-core:CurrentFinancialInstruments 2024-03-31 09508320 frs-core:ShareCapital 2024-03-31 09508320 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09508320 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09508320 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09508320 frs-bus:SmallEntities 2023-04-01 2024-03-31 09508320 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09508320 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09508320 1 2023-04-01 2024-03-31 09508320 frs-bus:Director1 2023-04-01 2024-03-31 09508320 frs-bus:Director2 2023-04-01 2024-03-31 09508320 frs-countries:EnglandWales 2023-04-01 2024-03-31 09508320 2022-03-31 09508320 2023-03-31 09508320 2022-04-01 2023-03-31 09508320 frs-core:CurrentFinancialInstruments 2023-03-31 09508320 frs-core:ShareCapital 2023-03-31 09508320 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09508320
Compass Groundworks Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Revis & Co Accountancy Services Ltd
AAT
1st Floor 50 High Street
Cosham
Portsmouth
Hampshire
PO6 3AG
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 09508320
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 4 6,805 29,875
Cash at bank and in hand 173,823 190,974
180,628 220,849
Creditors: Amounts Falling Due Within One Year 5 (88,830 ) (93,855 )
NET CURRENT ASSETS (LIABILITIES) 91,798 126,994
TOTAL ASSETS LESS CURRENT LIABILITIES 91,798 126,994
NET ASSETS 91,798 126,994
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 91,698 126,894
SHAREHOLDERS' FUNDS 91,798 126,994
For the year ending 31 March 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kevin Dennis
Director
23/07/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Compass Groundworks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09508320 . The registered office is 1st Floor , 50 High Street, Cosham, Hants , PO6 3AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 1)
- 1
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Page 3
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 8,357
Amounts recoverable on contracts - 3,249
PAYE (Current liabilities - creditors < 1 year) 6,805 18,269
6,805 29,875
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 152 446
Corporation tax (31 ) (31 )
VAT - 1,682
Accruals and deferred income 8 8
Directors' loan accounts 88,701 91,750
88,830 93,855
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Controlling Party
The company's controlling party is Mr K Dennis by virtue of his ownership of 80 % of the issued share capital in the company.
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