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REGISTERED NUMBER: 06090819 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Compass FMB Limited

Compass FMB Limited (Registered number: 06090819)






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


Compass FMB Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: G P Champion
R J Gibbons





REGISTERED OFFICE: Griffin Bridge House
56 Northfield Road
Dudley
West Midlands
DY2 9JA





REGISTERED NUMBER: 06090819 (England and Wales)





ACCOUNTANTS: Blythe Phillips
8/9 Earls Way
Halesowen
West Midlands
B63 3HR

Compass FMB Limited (Registered number: 06090819)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,260 61,903
Investments 5 129,000 129,000
160,260 190,903

CURRENT ASSETS
Stocks 135,000 -
Debtors 6 202,981 287,739
Cash at bank and in hand 59,434 102,599
397,415 390,338
CREDITORS
Amounts falling due within one year 7 326,627 300,208
NET CURRENT ASSETS 70,788 90,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,048

281,033

CREDITORS
Amounts falling due after more than one
year

8

15,673

15,146
NET ASSETS 215,375 265,887

CAPITAL AND RESERVES
Called up share capital 203 203
Retained earnings 215,172 265,684
215,375 265,887

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 directors acknowledge their 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.

Compass FMB Limited (Registered number: 06090819)

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 Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





G P Champion - Director


Compass FMB Limited (Registered number: 06090819)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Compass FMB 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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
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.

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.

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 6 (2023 - 6 ) .

Compass FMB Limited (Registered number: 06090819)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 286,902
Additions 800
Disposals (125,183 )
At 31 January 2024 162,519
DEPRECIATION
At 1 February 2023 224,999
Charge for year 10,818
Eliminated on disposal (104,558 )
At 31 January 2024 131,259
NET BOOK VALUE
At 31 January 2024 31,260
At 31 January 2023 61,903

5. FIXED ASSET INVESTMENTS
Other
loans
£   
At 1 February 2023
and 31 January 2024 129,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 185,336 281,225
Other debtors 17,645 6,514
202,981 287,739

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 82,167 120,333
Trade creditors 156,026 107,660
Taxation and social security 85,934 43,795
Other creditors 2,500 28,420
326,627 300,208

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other creditors 15,673 15,146