2023-03-012024-02-292024-02-29false05902477Compound Solutions 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Compound Solutions Ltd

Registered Number
05902477
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

Compound Solutions Ltd
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Christopher Fawley
Daniel Fawley
Julie Ellen Fawley

Company Secretary

Julie Ellen Fawley

Registered Address

Etherow House, 15 Printers Park
Hollingworth
Via Hyde
SK14 8QH

Registered Number

05902477 (England and Wales)
Compound Solutions Ltd
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets5130,982152,242
130,982152,242
Current assets
Stocks299,18148,031
Debtors6363,869789,691
Cash at bank and on hand1,361,1972,027,448
2,024,2472,865,170
Creditors amounts falling due within one year7(623,758)(1,479,728)
Net current assets (liabilities)1,400,4891,385,442
Total assets less current liabilities1,531,4711,537,684
Creditors amounts falling due after one year8-(19,800)
Provisions for liabilities10(23,835)(18,841)
Net assets1,507,6361,499,043
Capital and reserves
Called up share capital1010
Profit and loss account1,507,6261,499,033
Shareholders' funds1,507,6361,499,043
The financial statements were approved and authorised for issue by the Board of Directors on 30 September 2024, and are signed on its behalf by:
Christopher Fawley
Director
Daniel Fawley
Director
Julie Ellen Fawley
Director

Registered Company No. 05902477
Compound Solutions Ltd
Notes to the Financial Statements
for the year ended 29 February 2024

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
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts 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 between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are written off over their expected useful economic life.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year68
3.Intangible assets

Total

£
Cost or valuation
At 01 March 2310,075
At 29 February 2410,075
Amortisation and impairment
At 01 March 2310,075
At 29 February 2410,075
Net book value
At 29 February 24-
At 28 February 23-
4.Useful life of intangible assets
The expected useful economic life of the intangible asset is assessed by the Directors to be 5 years.
5.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 23278,987
Additions7,989
At 29 February 24286,976
Depreciation and impairment
At 01 March 23126,744
Charge for year29,250
At 29 February 24155,994
Net book value
At 29 February 24130,982
At 28 February 23152,242
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables210,933604,553
Other debtors87,79199,634
Prepayments and accrued income65,14585,504
Total363,869789,691
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,78445,979
Taxation and social security84,226224,297
Finance lease and HP contracts-6,655
Other creditors9,82513,388
Accrued liabilities and deferred income517,9231,189,409
Total623,7581,479,728
8.Creditors: amounts due after one year

2024

2023

££
Other creditors-19,800
Total-19,800
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-19,800
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)23,83518,841
Total23,83518,841