Compatible Cards Limited 09310499 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is printing and card making supplies. Digita Accounts Production Advanced 6.30.9574.0 true 09310499 2023-02-01 2024-01-31 09310499 2024-01-31 09310499 bus:OrdinaryShareClass1 2024-01-31 09310499 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 09310499 core:FurnitureFittingsToolsEquipment 2024-01-31 09310499 bus:SmallEntities 2023-02-01 2024-01-31 09310499 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09310499 bus:FullAccounts 2023-02-01 2024-01-31 09310499 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09310499 bus:RegisteredOffice 2023-02-01 2024-01-31 09310499 bus:Director1 2023-02-01 2024-01-31 09310499 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 09310499 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09310499 core:FurnitureFittings 2023-02-01 2024-01-31 09310499 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 09310499 core:OtherRelatedParties 2023-02-01 2024-01-31 09310499 countries:UnitedKingdom 2023-02-01 2024-01-31 09310499 2023-01-31 09310499 core:FurnitureFittingsToolsEquipment 2023-01-31 09310499 2022-02-01 2023-01-31 09310499 2023-01-31 09310499 bus:OrdinaryShareClass1 2023-01-31 09310499 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 09310499 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09310499

Compatible Cards Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Compatible Cards Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Compatible Cards Limited

Company Information

Director

Miss S Chrysostomou

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Compatible Cards Limited

(Registration number: 09310499)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

831

1,039

Current assets

 

Stocks

6

7,942

5,767

Cash at bank and in hand

 

158

718

 

8,100

6,485

Creditors: Amounts falling due within one year

7

(8,496)

(8,529)

Net current liabilities

 

(396)

(2,044)

Net assets/(liabilities)

 

435

(1,005)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

434

(1,006)

Shareholders' funds/(deficit)

 

435

(1,005)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2024
 

.........................................
Miss S Chrysostomou
Director

 

Compatible Cards Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
38 Curthwaite Gardens
Oakwood
Middx
EN2 7LN

These financial statements were authorised for issue by the director on 17 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Compatible Cards Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings & equipment

20% Reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Compatible Cards Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

208

260

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

2,489

2,489

At 31 January 2024

2,489

2,489

Depreciation

At 1 February 2023

1,450

1,450

Charge for the year

208

208

At 31 January 2024

1,658

1,658

Carrying amount

At 31 January 2024

831

831

At 31 January 2023

1,039

1,039

6

Stocks

2024
£

2023
£

Finished goods & goods for resale

7,942

5,767

 

Compatible Cards Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

824

-

Taxation and social security

 

483

-

Accruals and deferred income

 

420

1,150

Other creditors

 

6,769

7,379

 

8,496

8,529

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

         

9

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £1,000.00 (2023 - £2,000.00) per ordinary share

 

1,000

 

2,000

         

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

6,000

6,000

Summary of transactions with other related parties

Included within creditors is an amount of £6,769 (2023: £7,379) due to the director of the company.