2023-01-012023-12-312023-12-31false11103946COMPASS BC PROPERTY 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COMPASS BC PROPERTY LIMITED

Registered Number
11103946
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

COMPASS BC PROPERTY LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

LEAF, Daniel Robert

Registered Address

4 Foxoak Park
Common Road
York
YO19 5RZ

Registered Number

11103946 (England and Wales)
COMPASS BC PROPERTY LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors27,43533,140
Cash at bank and on hand1,9954,902
29,43038,042
Creditors amounts falling due within one year4(13,322)(10,348)
Net current assets (liabilities)16,10827,694
Total assets less current liabilities16,10827,694
Creditors amounts falling due after one year5(15,521)(25,170)
Net assets5872,524
Capital and reserves
Called up share capital100100
Profit and loss account4872,424
Shareholders' funds5872,524
The financial statements were approved and authorised for issue by the Director on 24 July 2024, and are signed on its behalf by:
LEAF, Daniel Robert
Director
Registered Company No. 11103946
COMPASS BC PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Functional and presentation currency
The financial statements are presented in sterling, which is the functional currency of the entity.
Going concern
Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company’s trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Revenue from sale of goods
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Current taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted, or substantively enacted, by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.Average number of employees

20232022
Average number of employees during the year00
3.Impairment of tangible fixed assets
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after after deducting all of its liabilities.
4.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts9,6489,648
Taxation and social security78-
Other creditors2,95850
Accrued liabilities and deferred income638650
Total13,32210,348
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts15,52125,170
Total15,52125,170
6.Related party transactions
During the year the director loaned monies to the company. This loan is interest free and repayable on demand. At the year end the balance of the loan was £2,958 (2022 - £50).