2023-02-012024-01-312024-01-31false02016753COMPRESSOR SERVICES INTERNATIONAL 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COMPRESSOR SERVICES INTERNATIONAL LIMITED

Registered Number
02016753
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

COMPRESSOR SERVICES INTERNATIONAL LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

MACE, Lucy
MACE, Patricia Margaret

Company Secretary

MACE, Lucy

Registered Address

8 Latimer Street
Tynemouth
North Shields
NE30 4EY

Registered Number

02016753 (England and Wales)
COMPRESSOR SERVICES INTERNATIONAL LIMITED
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets351666
Investments4100100
616166
Current assets
Debtors5290238,704
Cash at bank and on hand212,091127,853
212,381366,557
Creditors amounts falling due within one year6(42,016)(199,039)
Net current assets (liabilities)170,365167,518
Total assets less current liabilities170,981167,684
Net assets170,981167,684
Capital and reserves
Called up share capital100100
Profit and loss account170,881167,584
Shareholders' funds170,981167,684
The financial statements were approved and authorised for issue by the Board of Directors on 29 October 2024, and are signed on its behalf by:
MACE, Lucy
Director
Registered Company No. 02016753
COMPRESSOR SERVICES INTERNATIONAL LIMITED
Notes to the Financial Statements
for the year ended 31 January 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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. 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.
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 the Income Statement
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement 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 Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 February 2310,3382,67013,008
Additions-775775
At 31 January 2410,3383,44513,783
Depreciation and impairment
At 01 February 2310,3382,60412,942
Charge for year-325325
At 31 January 2410,3382,92913,267
Net book value
At 31 January 24-516516
At 31 January 23-6666
4.Fixed asset investments
The company has a 100% investment in its subsidiary M.& R. Builders (Northern) Limited, the registered office which is 8 Latimer Street, Tynemouth, North Shields, England, NE30 4EY.

Investments in groups1

Total

££
Cost or valuation
At 01 February 23100100
At 31 January 24100100
Net book value
At 31 January 24100100
At 31 January 23100100

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-238,402
Other debtors290302
Total290238,704
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables15,338131,132
Amounts owed to related parties100797
Taxation and social security7,8027,635
Other creditors17,0528,691
Accrued liabilities and deferred income1,72450,784
Total42,016199,039
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.