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REGISTERED NUMBER: 10662117 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Compass Horticulture Ltd

Compass Horticulture Ltd (Registered number: 10662117)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Compass Horticulture Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr A G Spencer





REGISTERED OFFICE: 5 Church Street
Framlingham
Suffolk
IP13 9BQ





REGISTERED NUMBER: 10662117 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Compass Horticulture Ltd (Registered number: 10662117)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,764 9,117

CURRENT ASSETS
Stocks 5 14,878 6,492
Debtors 6 19,299 24,446
Cash at bank 145,120 142,055
179,297 172,993
CREDITORS
Amounts falling due within one year 7 48,738 48,398
NET CURRENT ASSETS 130,559 124,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,323

133,712

PROVISIONS FOR LIABILITIES 8 268 335
NET ASSETS 139,055 133,377

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 139,054 133,376
SHAREHOLDERS' FUNDS 139,055 133,377

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 director acknowledges his 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 Horticulture Ltd (Registered number: 10662117)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 28 November 2024 and were signed by:





Mr A G Spencer - Director


Compass Horticulture Ltd (Registered number: 10662117)

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

1. STATUTORY INFORMATION

Compass Horticulture 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.

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.
Office equipment - 20% on reducing balance

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.

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.

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.

Compass Horticulture Ltd (Registered number: 10662117)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Office Office
conversion equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 7,353 6,796 14,149
DEPRECIATION
At 1 April 2023 - 5,032 5,032
Charge for year - 353 353
At 31 March 2024 - 5,385 5,385
NET BOOK VALUE
At 31 March 2024 7,353 1,411 8,764
At 31 March 2023 7,353 1,764 9,117

5. STOCKS
2024 2023
£    £   
Stocks 14,878 6,492

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,299 20,870
VAT - 3,576
19,299 24,446

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,183 6,349
Tax 1,399 9,220
Social security and other taxes - 157
VAT 207 -
Directors' current accounts 31,453 30,859
Accrued expenses 2,496 1,813
48,738 48,398

Compass Horticulture Ltd (Registered number: 10662117)

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

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 268 335

Deferred
tax
£   
Balance at 1 April 2023 335
Movement in year (67 )
Balance at 31 March 2024 268