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REGISTERED NUMBER: 10147807 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Compass Mechanical & Electrical Limited

Compass Mechanical & Electrical Limited (Registered number: 10147807)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Compass Mechanical & Electrical Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G P Champion
J Lediard





REGISTERED OFFICE: Griffin Bridge House
56 Northfield Road
Dudley
United Kingdom
DY2 9JA





REGISTERED NUMBER: 10147807 (England and Wales)





ACCOUNTANTS: Blythe Phillips
8/9 Earls Way
Halesowen
West Midlands
B63 3HR

Compass Mechanical & Electrical Limited (Registered number: 10147807)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,446 20,212

CURRENT ASSETS
Stocks 8,000 -
Debtors 5 51,608 180,990
Cash at bank and in hand 155,245 58,575
214,853 239,565
CREDITORS
Amounts falling due within one year 6 73,975 104,587
NET CURRENT ASSETS 140,878 134,978
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,324

155,190

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 158,322 155,188
158,324 155,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





J Lediard - Director


Compass Mechanical & Electrical Limited (Registered number: 10147807)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Compass Mechanical & Electrical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Compass Mechanical & Electrical Limited (Registered number: 10147807)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 40,168
Additions 11,637
Disposals (20,980 )
At 31 March 2024 30,825
DEPRECIATION
At 1 April 2023 19,956
Charge for year 5,552
Eliminated on disposal (12,129 )
At 31 March 2024 13,379
NET BOOK VALUE
At 31 March 2024 17,446
At 31 March 2023 20,212

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 35,435 160,794

Amounts falling due after more than one year:
Other debtors 16,173 20,196

Aggregate amounts 51,608 180,990

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 9,533 13,564
Trade creditors 30,079 60,472
Taxation and social security 32,863 30,101
Other creditors 1,500 450
73,975 104,587