Company Registration No. 13557107 (England and Wales)
Compdoor Limited
Unaudited accounts
for the year ended 31 May 2024
Compdoor Limited
Unaudited accounts
Contents
Compdoor Limited
Company Information
for the year ended 31 May 2024
Company Number
13557107 (England and Wales)
Registered Office
DENMARK HOUSE 143 HIGH STREET
CHALFONT ST. PETER
GERRARDS CROSS
SL9 9QL
ENGLAND
Accountants
Lane Accounting Limited
Denmark House, 143 High St,
Chalfont St Peter,
Gerrards Cross
Buckinghamshire
SL9 9QL
Compdoor Limited
Statement of financial position
as at 31 May 2024
Tangible assets
981,209
567,547
Inventories
708,472
519,849
Cash at bank and in hand
66,437
40,930
Creditors: amounts falling due within one year
(2,268,116)
(1,206,820)
Net current assets
260,134
179,428
Total assets less current liabilities
1,241,343
746,975
Creditors: amounts falling due after more than one year
(536,693)
(1,091,082)
Net assets/(liabilities)
704,650
(344,107)
Called up share capital
1,000
1,000
Profit and loss account
703,650
(345,107)
Shareholders' funds
704,650
(344,107)
For the year ending 31 May 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 26 July 2024 and were signed on its behalf by
Andrew Nurse
Director
Company Registration No. 13557107
Compdoor Limited
Notes to the Accounts
for the year ended 31 May 2024
Compdoor Limited is a private company, limited by shares, registered in England and Wales, registration number 13557107. The registered office is DENMARK HOUSE 143 HIGH STREET, CHALFONT ST. PETER, GERRARDS CROSS, SL9 9QL, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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:
Land & buildings
10% of Cost
Plant & machinery
10% of Cost
Motor vehicles
25% of Cost
Fixtures & fittings
10% of Cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Compdoor Limited
Notes to the Accounts
for the year ended 31 May 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2023
106,285
504,940
52,995
74,150
738,370
Additions
34,061
347,709
218,840
28,809
629,419
Disposals
-
(11,301)
(12,995)
-
(24,296)
At 31 May 2024
140,346
841,348
258,840
102,959
1,343,493
At 1 June 2023
16,355
121,905
16,497
16,066
170,823
Charge for the year
14,035
112,872
67,959
10,296
205,162
On disposals
-
(3,955)
(9,746)
-
(13,701)
At 31 May 2024
30,390
230,822
74,710
26,362
362,284
At 31 May 2024
109,956
610,526
184,130
76,597
981,209
At 31 May 2023
89,930
383,035
36,498
58,084
567,547
Amounts falling due within one year
Trade debtors
1,751,639
729,854
Accrued income and prepayments
-
95,615
Compdoor Limited
Notes to the Accounts
for the year ended 31 May 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
641,251
511,173
Obligations under finance leases and hire purchase contracts
41,215
-
Trade creditors
1,287,190
567,277
Taxes and social security
49,921
29,063
Other creditors
5,360
13,535
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are
secured of £682,466 (2023 £511,173). The bank loans and overdrafts are secured by a fixed and floating charge over the
company's assets. The finance leases are secured on the assets concerned.
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
63,839
-
Amounts owed to group undertakings and other participating interests
472,854
1,091,082
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are
secured of £63,839 (2023 £0). The bank loans and overdrafts are secured by a fixed and floating charge over the company's
assets. The finance leases are secured on the assets concerned.
Allotted, called up and fully paid:
940 A Ordinary shares of £1 each
940
940
60 B Ordinary shares of £1 each
60
60
Compdoor Limited
Notes to the Accounts
for the year ended 31 May 2024
9
Transactions with related parties
During the year the company purchased goods totalling £54,083 from SGG Manufacturing Ltd. and has £15,421 owing in Trade
creditors at the year end. Mr Nurse is a director of both companies.
During the year the company purchased goods totalling £11,657 from UK Doors Online Ltd. and has £0 owing in Trade
creditors at the year end. Mr Nurse is a director of both companies.
At 31 May 2024 the company owed Alunet Systems Ltd £461,940. Mr Nurse is a director in both companies.
At 31 May 2024 the company owed JD (UK) Ltd £6,799. Mr Nurse is a director in both companies.
At 31 May 2024 the company owed SGG Manufacturing Ltd £4,115. Mr Nurse is a director in both companies.
During the year the company sold goods totalling £23,537 to SGG Manufacturing Ltd. and is owed £10,071 in Trade Debtors at
the year end. Mr Nurse is a director of both companies.
During the year the company purchased services totalling £18,000 from JDUK Investments Ltd. and owed £5,000 at the year
end. this is included in Trade creditors. Mr Nurse is a director of both companies.
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Average number of employees
During the year the average number of employees was 70 (2023: 47).