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REGISTERED NUMBER: 11900851 (England and Wales)











Compton Retail Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Compton Retail Limited (Registered number: 11900851)






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

Report of the Accountants 9

Compton Retail Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: G E B Morrell





SECRETARY: N S Morrell





REGISTERED OFFICE: 32 Bridgnorth Road
SPAR stores
Compton
Wolverhampton
WV6 8AE





REGISTERED NUMBER: 11900851 (England and Wales)





ACCOUNTANTS: Streets Dyke Ruscoe Ltd
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ

Compton Retail Limited (Registered number: 11900851)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 39,950 45,276
Tangible assets 5 207,835 198,697
247,785 243,973

CURRENT ASSETS
Stocks 78,009 77,094
Debtors 6 25,045 23,652
Cash at bank and in hand 31,504 85,699
134,558 186,445
CREDITORS
Amounts falling due within one year 7 410,961 423,102
NET CURRENT LIABILITIES (276,403 ) (236,657 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,618

)

7,316

CREDITORS
Amounts falling due after more than one
year

8

19,794

29,541
NET LIABILITIES (48,412 ) (22,225 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (48,512 ) (22,325 )
(48,412 ) (22,225 )

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.

Compton Retail Limited (Registered number: 11900851)

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 20 November 2024 and were signed by:





G E B Morrell - Director


Compton Retail Limited (Registered number: 11900851)

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

1. STATUTORY INFORMATION

Compton Retail 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% 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.

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.

Compton Retail Limited (Registered number: 11900851)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 21 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 53,266
AMORTISATION
At 1 April 2023 7,990
Charge for year 5,326
At 31 March 2024 13,316
NET BOOK VALUE
At 31 March 2024 39,950
At 31 March 2023 45,276

Compton Retail Limited (Registered number: 11900851)

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

5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2023 1 57,101 11,145
Additions - 16,426 20,665
Disposals - - -
At 31 March 2024 1 73,527 31,810
DEPRECIATION
At 1 April 2023 - 1,003 3,377
Charge for year - 1,224 3,024
Eliminated on disposal - - -
At 31 March 2024 - 2,227 6,401
NET BOOK VALUE
At 31 March 2024 1 71,300 25,409
At 31 March 2023 1 56,098 7,768

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 165,436 4,319 238,002
Additions 4,075 - 41,166
Disposals - (149 ) (149 )
At 31 March 2024 169,511 4,170 279,019
DEPRECIATION
At 1 April 2023 33,378 1,547 39,305
Charge for year 26,848 830 31,926
Eliminated on disposal - (47 ) (47 )
At 31 March 2024 60,226 2,330 71,184
NET BOOK VALUE
At 31 March 2024 109,285 1,840 207,835
At 31 March 2023 132,058 2,772 198,697

Compton Retail Limited (Registered number: 11900851)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to
property
£   
COST
At 1 April 2023
and 31 March 2024 11,780
DEPRECIATION
At 1 April 2023 115
Charge for year 236
At 31 March 2024 351
NET BOOK VALUE
At 31 March 2024 11,429
At 31 March 2023 11,665

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,118 8,278
Other debtors - 4,114
Tax - 3,746
Called up share capital not paid 100 100
Prepayments 5,827 7,414
25,045 23,652

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,497 5,318
Hire purchase contracts 4,203 3,540
Trade creditors 93,757 68,971
Tax - 3,746
Social security and other taxes 3,737 7,261
VAT 10,307 5,053
Other creditors 285,789 321,764
Directors' current accounts 1,541 -
Accrued expenses 6,130 7,449
410,961 423,102

Compton Retail Limited (Registered number: 11900851)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 2-5 years 17,037 22,581
Hire purchase contracts 2,757 6,960
19,794 29,541

Compton Retail Limited

Report of the Accountants to the Director of
Compton Retail Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages two to three and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Streets Dyke Ruscoe Ltd
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ


20 November 2024