Registered number
08256297
Compare Dual Fuel Ltd
Filleted Accounts
31 October 2023
Compare Dual Fuel Ltd
Registered number: 08256297
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 437 546
Current assets
Debtors 4 11,834 42,424
Cash at bank and in hand 210,646 136,007
222,480 178,431
Creditors: amounts falling due within one year 5 (91,302) (62,579)
Net current assets 131,178 115,852
Total assets less current liabilities 131,615 116,398
Provisions for liabilities (83) (104)
Net assets 131,532 116,294
Capital and reserves
Called up share capital 1 1
Profit and loss account 131,531 116,293
Shareholder's funds 131,532 116,294
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Asif Abdul Ali
Director
Approved by the board on 31 October 2024
Compare Dual Fuel Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 20% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Equipment and Fixtures, fittings
£
Cost
At 1 November 2022 1,999
At 31 October 2023 1,999
Depreciation
At 1 November 2022 1,453
Charge for the year 109
At 31 October 2023 1,562
Net book value
At 31 October 2023 437
At 31 October 2022 546
4 Debtors 2023 2022
£ £
Other debtors 11,834 42,424
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 33,470 42,835
Taxation and social security costs 11,231 13,145
Other creditors 46,601 6,599
91,302 62,579
6 Other information
Compare Dual Fuel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
11 Jennaby Road
Bolton
BL1 8EL
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