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REGISTERED NUMBER: 11195730 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

COMPASS PROTECTION MANUFACTURING LTD

COMPASS PROTECTION MANUFACTURING LTD (REGISTERED NUMBER: 11195730)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


COMPASS PROTECTION MANUFACTURING LTD

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTORS: B E Blagg
N S Callow





REGISTERED OFFICE: Unit 1 Northmoor Industrial Estate
Moor Street
Brierley Hill
West Midlands
DY5 3SU





REGISTERED NUMBER: 11195730 (England and Wales)






COMPASS PROTECTION MANUFACTURING LTD (REGISTERED NUMBER: 11195730)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,777 19,897
31,777 19,897

CURRENT ASSETS
Stocks 164,131 117,170
Debtors 145,845 235,669
Cash at bank 350,013 225,890
659,989 578,729
CREDITORS
Amounts falling due within one year 228,163 278,555
NET CURRENT ASSETS 431,826 300,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

463,603

320,071

PROVISIONS FOR LIABILITIES 4,395 544
NET ASSETS 459,208 319,527

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 459,108 319,427
SHAREHOLDERS' FUNDS 459,208 319,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

COMPASS PROTECTION MANUFACTURING LTD (REGISTERED NUMBER: 11195730)

ABRIDGED BALANCE SHEET - continued
29 February 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 November 2024 and were signed on its behalf by:





N S Callow - Director


COMPASS PROTECTION MANUFACTURING LTD (REGISTERED NUMBER: 11195730)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Compass Protection Manufacturing Ltd 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on cost
Furniture and equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


COMPASS PROTECTION MANUFACTURING LTD (REGISTERED NUMBER: 11195730)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 1,510
AMORTISATION
At 1 March 2023
and 29 February 2024 1,510
NET BOOK VALUE

At 29 February 2024 -
At 28 February 2023 -

COMPASS PROTECTION MANUFACTURING LTD (REGISTERED NUMBER: 11195730)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 68,229
Additions 19,361
At 29 February 2024 87,590
DEPRECIATION
At 1 March 2023 48,332
Charge for year 7,481
At 29 February 2024 55,813
NET BOOK VALUE
At 29 February 2024 31,777
At 28 February 2023 19,897

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 26,000

7. PENSION COMMITMENTS

The company operates defined contribution pension schemes in respect of certain employees. The schemes and their assets are held by independent managers.

Included within creditors is a balance due to pension providers of £754 (2023 - £735) representing contributions owed to the funds.