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REGISTERED NUMBER: 02680925 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

COMPOUND LIMITED

COMPOUND LIMITED (REGISTERED NUMBER: 02680925)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMPOUND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: R J Eades





SECRETARY: C V Eades





REGISTERED OFFICE: Tower Hill Business Park
Poundon
Bicester
Oxfordshire
OX27 9BD





REGISTERED NUMBER: 02680925 (England and Wales)





ACCOUNTANTS: Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT

COMPOUND LIMITED (REGISTERED NUMBER: 02680925)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 735,237 752,530
Investments 5 3 3
735,240 752,533

CURRENT ASSETS
Debtors 6 218,083 243,366
Investments 7 399,942 399,942
Cash at bank and in hand 642,557 668,666
1,260,582 1,311,974
CREDITORS
Amounts falling due within one year 8 223,462 256,541
NET CURRENT ASSETS 1,037,120 1,055,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,772,360

1,807,966

PROVISIONS FOR LIABILITIES 9 8,888 11,871
NET ASSETS 1,763,472 1,796,095

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 1,733,472 1,766,095
SHAREHOLDERS' FUNDS 1,763,472 1,796,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

COMPOUND LIMITED (REGISTERED NUMBER: 02680925)

BALANCE SHEET - continued
31 JANUARY 2024


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

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 3 October 2024 and were signed by:





R J Eades - Director


COMPOUND LIMITED (REGISTERED NUMBER: 02680925)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Compound Limited is a private company, limited by shares , registered in England and Wales. 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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the accounting policies below.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the Revenue costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

No depreciation is provided in respect of freehold property. This conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The director considers that, as this property is being fully maintained and its value is not diminishing, to depreciate it would not give a true and fair view.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


COMPOUND LIMITED (REGISTERED NUMBER: 02680925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2023
and 31 January 2024 681,202 1,537,596 21,759 61,748 2,302,305
DEPRECIATION
At 1 February 2023 - 1,473,587 18,184 58,004 1,549,775
Charge for year - 16,002 355 936 17,293
At 31 January 2024 - 1,489,589 18,539 58,940 1,567,068
NET BOOK VALUE
At 31 January 2024 681,202 48,007 3,220 2,808 735,237
At 31 January 2023 681,202 64,009 3,575 3,744 752,530

COMPOUND LIMITED (REGISTERED NUMBER: 02680925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 3
NET BOOK VALUE
At 31 January 2024 3
At 31 January 2023 3

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,379 15,807
Amounts owed by group undertakings 196,366 224,526
Other debtors 12,338 3,033
218,083 243,366

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 399,942 399,942

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,849 7,826
Tax 10,964 10,272
Social security and other taxes 41,250 -
VAT 65,838 13,410
Other creditors 69,552 133,824
Directors' current accounts 30,009 91,209
223,462 256,541

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,888 11,871

Deferred
tax
£   
Balance at 1 February 2023 11,871
Provided during year (2,983 )
Balance at 31 January 2024 8,888

COMPOUND LIMITED (REGISTERED NUMBER: 02680925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. RELATED PARTY DISCLOSURES

During the year the company traded with its subsidiary company Ratec Research Limited. The following transactions arose
2024 2023
£    £   

Hire of plant & machinery 44,000 35,000
Rent payable 80,333 70,250
Management charge 72,000 54,000
Light & heat recharged 63,138 28,668

As at 31 January 2024, £196,366 was owed by Ratec Research Limited (2023: £224,526).