2023-05-012024-04-302024-04-30false09568998SMART COMPASS 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SMART COMPASS LIMITED

Registered Number
09568998
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

SMART COMPASS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

GARCIA MARTIN, Esther

Registered Address

4 Halkin Place
London
SW1X 8JG

Registered Number

09568998 (England and Wales)
SMART COMPASS LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets326,04337,011
26,04337,011
Current assets
Debtors44,775966
Cash at bank and on hand7,5655,363
12,3406,329
Creditors amounts falling due within one year5(4,033)(2,846)
Net current assets (liabilities)8,3073,483
Total assets less current liabilities34,35040,494
Creditors amounts falling due after one year6(777,000)(710,906)
Net assets(742,650)(670,412)
Capital and reserves
Profit and loss account(742,650)(670,412)
Shareholders' funds(742,650)(670,412)
The financial statements were approved and authorised for issue by the Director on 22 January 2025, and are signed on its behalf by:
GARCIA MARTIN, Esther
Director
Registered Company No. 09568998
SMART COMPASS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery20-
Fixtures and fittings20-
Office Equipment20-
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 May 2377,333
At 30 April 2477,333
Depreciation and impairment
At 01 May 2340,323
Charge for year10,967
At 30 April 2451,290
Net book value
At 30 April 2426,043
At 30 April 2337,011
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables4,775912
Other debtors-54
Total4,775966
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8772,846
Taxation and social security3,156-
Total4,0332,846
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors777,000710,906
Total777,000710,906