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Company Registration No. 08349463 (England and Wales)
Compact Rails & Systems Limited Unaudited accounts for the year ended 31 January 2024
Compact Rails & Systems Limited Unaudited accounts Contents
Page
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Compact Rails & Systems Limited Company Information for the year ended 31 January 2024
Directors
Mark Wilkinson Michelle Wilkinson
Company Number
08349463 (England and Wales)
Registered Office
UNIT 2 , RINGWAY HOUSE UNITED DOWNS INDUSTRIAL PARK REDRUTH CORNWALL TR16 5HY ENGLAND
Accountants
Batesons 2 Statham Court Statham Street Macclesfield Cheshire SK11 6XN
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Compact Rails & Systems Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,703 
10,000 
Current assets
Inventories
425 
400 
Debtors
18,780 
29,974 
Cash at bank and in hand
19,748 
- 
38,953 
30,374 
Creditors: amounts falling due within one year
(17,113)
(22,192)
Net current assets
21,840 
8,182 
Total assets less current liabilities
33,543 
18,182 
Creditors: amounts falling due after more than one year
(3,811)
(5,818)
Provisions for liabilities
Deferred tax
(2,223)
(1,900)
Net assets
27,509 
10,464 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
27,409 
10,364 
Shareholders' funds
27,509 
10,464 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by
Mark Wilkinson Director Company Registration No. 08349463
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Compact Rails & Systems Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Compact Rails & Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 08349463. The registered office is UNIT 2 , RINGWAY HOUSE, UNITED DOWNS INDUSTRIAL PARK, REDRUTH, CORNWALL, TR16 5HY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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Compact Rails & Systems Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 February 2023
23,973 
Additions
3,497 
At 31 January 2024
27,470 
Depreciation
At 1 February 2023
13,973 
Charge for the year
1,794 
At 31 January 2024
15,767 
Net book value
At 31 January 2024
11,703 
At 31 January 2023
10,000 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,219 
11,740 
Other debtors
13,561 
18,234 
18,780 
29,974 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,007 
9,643 
VAT
82 
1,198 
Trade creditors
- 
688 
Taxes and social security
13,548 
9,211 
Accruals
1,476 
1,452 
17,113 
22,192 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
3,811 
5,818 
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Compact Rails & Systems Limited Notes to the Accounts for the year ended 31 January 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
2,223 
1,900 
2024 
2023 
£ 
£ 
Provision at start of year
1,900 
2,524 
Charged/(credited) to the profit and loss account
323 
(624)
Provision at end of year
2,223 
1,900 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Directors Loan
18,234 
77,647 
82,320 
13,561 
18,234 
77,647 
82,320 
13,561 
11
Average number of employees
During the year the average number of employees was 3 (2023: 4).
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