COMPANION GROUP LTD

Company Registration Number:
14384045 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 28 September 2022

End date: 31 December 2023

COMPANION GROUP LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

COMPANION GROUP LTD

Profit And Loss Account

for the Period Ended 31 December 2023

15 months to 31 December 2023


£
Turnover: 1,459,295
Cost of sales: 0
Gross profit(or loss): 1,459,295
Distribution costs: 0
Administrative expenses: ( 1,527,139 )
Other operating income: 3,545
Operating profit(or loss): (64,299)
Interest receivable and similar income: 298
Profit(or loss) before tax: (64,001)
Profit(or loss) for the financial year: (64,001)

COMPANION GROUP LTD

Balance sheet

As at 31 December 2023

Notes 15 months to 31 December 2023


£
Called up share capital not paid: 0
Current assets
Debtors: 3 102,255
Cash at bank and in hand: 266,567
Total current assets: 368,822
Creditors: amounts falling due within one year: 4 ( 337,783 )
Net current assets (liabilities): 31,039
Total assets less current liabilities: 31,039
Creditors: amounts falling due after more than one year: 5 ( 13,102 )
Total net assets (liabilities): 17,937
Capital and reserves
Called up share capital: 116,151
Other reserves: (188,086)
Profit and loss account: 89,872
Total Shareholders' funds: 17,937

The notes form part of these financial statements

COMPANION GROUP LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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.

This report was approved by the board of directors on 12 November 2024
and signed on behalf of the board by:

Name: Gemma Low
Status: Director

The notes form part of these financial statements

COMPANION GROUP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover (Revenue) Recognition Policy for Companion Group Ltd Turnover represents the fair value of consideration received or receivable for services rendered in the ordinary course of Companion Group Ltd’s activities, net of discounts and value-added tax. The company recognizes turnover from services as follows: Rendering of Services: Revenue from services is recognized by reference to the stage of completion of the service at the balance sheet date. Stage of completion is determined based on: The proportion of total contract hours spent to date compared to estimated total contract hours, or Achievement of specific milestones as agreed in customer contracts. Turnover is recognized only when: The amount of revenue can be measured reliably. It is probable that the economic benefits associated with the transaction will flow to Companion Group Ltd. The stage of completion and costs to complete can be measured reliably. Interest Income and Other Income (if applicable): Interest income is recognized on a time-proportion basis using the effective interest method. Other income is recognized as earned when it is probable that economic benefits will flow to the company, and the revenue can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible Fixed Assets and Depreciation Policy for Companion Group Ltd Companion Group Ltd expenses all equipment purchases directly in the period incurred and does not capitalize them as fixed assets. As such, no depreciation is applied to equipment, as it is fully recognized as an expense when acquired. This approach aligns with the company’s policy to simplify asset management for smaller equipment and reflects the immediate use and impact of such expenses on operations.

    Valuation information and policy

    Valuation Information Policy for Companion Group Ltd Companion Group Ltd periodically receives valuations of the company’s equity as part of its participation in the Enterprise Management Incentive (EMI) scheme. These valuations are conducted by an independent professional valuator and generally occur every 3 to 6 months to ensure an accurate and up-to-date assessment of the company’s share value for compliance and employee equity award purposes. The valuation process considers: The current financial position and performance of the company, Market conditions and industry trends, Future growth prospects and projections for the business. These valuations are used solely for purposes related to the EMI scheme and are not included directly in the company’s financial statements. However, the most recent valuation informs management’s understanding of company value for reporting and disclosure purposes.

COMPANION GROUP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    15 months to 31 December 2023
    Average number of employees during the period 9

COMPANION GROUP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Debtors

15 months to 31 December 2023
£
Trade debtors 0
Prepayments and accrued income 0
Other debtors 102,255
Total 102,255
Debtors due after more than one year: 0

COMPANION GROUP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

15 months to 31 December 2023
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 282,448
Taxation and social security 51,938
Other creditors 3,397
Total 337,783

COMPANION GROUP LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due after more than one year note

15 months to 31 December 2023
£
Bank loans and overdrafts 13,102
Total 13,102