IRIS Accounts Production v24.2.0.383 SC339691 director 1.1.23 31.12.23 31.12.23 false true false false true false ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3396912022-12-31SC3396912023-12-31SC3396912023-01-012023-12-31SC3396912021-12-31SC3396912022-01-012022-12-31SC3396912022-12-31SC339691ns15:Scotland2023-01-012023-12-31SC339691ns14:PoundSterling2023-01-012023-12-31SC339691ns10:Director12023-01-012023-12-31SC339691ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC339691ns10:SmallEntities2023-01-012023-12-31SC339691ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC339691ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC339691ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC339691ns10:AbridgedAccounts2023-01-012023-12-31SC339691ns10:OrdinaryShareClass12023-01-012023-12-31SC339691ns10:CompanySecretary12023-01-012023-12-31SC339691ns10:RegisteredOffice2023-01-012023-12-31SC339691ns5:CurrentFinancialInstruments2023-12-31SC339691ns5:CurrentFinancialInstruments2022-12-31SC339691ns5:Non-currentFinancialInstruments2023-12-31SC339691ns5:Non-currentFinancialInstruments2022-12-31SC339691ns5:ShareCapital2023-12-31SC339691ns5:ShareCapital2022-12-31SC339691ns5:RetainedEarningsAccumulatedLosses2023-12-31SC339691ns5:RetainedEarningsAccumulatedLosses2022-12-31SC339691ns5:DeferredTaxation2022-12-31SC339691ns5:DeferredTaxation2023-01-012023-12-31SC339691ns5:DeferredTaxation2023-12-31SC339691ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: SC339691 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COMPASS BUSINESS INSTALLATIONS LTD.

COMPASS BUSINESS INSTALLATIONS LTD. (REGISTERED NUMBER: SC339691)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


COMPASS BUSINESS INSTALLATIONS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: D J Stoddart





SECRETARY: D F C Donaldson





REGISTERED OFFICE: Unit 1 Forties Campus Europark
Rosyth
Dunfermline
Fife
KY11 2WP





REGISTERED NUMBER: SC339691 (Scotland)





ACCOUNTANT: I M Neilson
Chartered Accountant
62E Cleveden Drive
Glasgow
G12 0NX

COMPASS BUSINESS INSTALLATIONS LTD. (REGISTERED NUMBER: SC339691)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 109,476 103,092

CURRENT ASSETS
Debtors 201,398 159,428
Cash at bank 79,299 115,493
280,697 274,921
CREDITORS
Amounts falling due within one year (179,950 ) (158,219 )
NET CURRENT ASSETS 100,747 116,702
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,223

219,794

CREDITORS
Amounts falling due after more than one
year

(82,823

)

(95,413

)

PROVISIONS FOR LIABILITIES 5 (18,074 ) (16,687 )
NET ASSETS 109,326 107,694

COMPASS BUSINESS INSTALLATIONS LTD. (REGISTERED NUMBER: SC339691)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Retained earnings 108,326 106,694
SHAREHOLDERS' FUNDS 109,326 107,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





D J Stoddart - Director


COMPASS BUSINESS INSTALLATIONS LTD. (REGISTERED NUMBER: SC339691)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Compass Business Installations Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover 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
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is provided on all tangible fixed assets, except land and buildings, on the reducing balance method at the following rates:-

Fixtures & fittings15%
Plant & machinery20%
Motor Vehicles25%
Office equipment & furniture10% or more

The assets residual values, useful lives and depreciation methods are reviewed annually and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.


COMPASS BUSINESS INSTALLATIONS LTD. (REGISTERED NUMBER: SC339691)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

COMPASS BUSINESS INSTALLATIONS LTD. (REGISTERED NUMBER: SC339691)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Profit and Loss Account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 239,994
Additions 69,648
Disposals (18,950 )
At 31 December 2023 290,692
DEPRECIATION
At 1 January 2023 136,902
Charge for year 54,864
Eliminated on disposal (10,550 )
At 31 December 2023 181,216
NET BOOK VALUE
At 31 December 2023 109,476
At 31 December 2022 103,092

Net book value of assets under hire purchase contracts was £101,844 (31/12/22: £97,956)

COMPASS BUSINESS INSTALLATIONS LTD. (REGISTERED NUMBER: SC339691)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 18,074 16,687

Deferred
tax
£   
Balance at 1 January 2023 16,687
Charge to Income Statement during year 1,387
Balance at 31 December 2023 18,074

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 ordinary £1 1,000 1,000