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REGISTERED NUMBER: SC295333 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Comply2 Limited

Comply2 Limited (Registered number: SC295333)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Comply2 Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Crockett
Mrs K O Crockett





SECRETARY: Mrs K O Crockett





REGISTERED OFFICE: Block 4, Unit 3
22 Oakbank Street
Oakbank Trading Estate
Glasgow
G20 7LU





REGISTERED NUMBER: SC295333 (Scotland)





ACCOUNTANTS: AMAS Murrison Limited
Chartered Accountants
10 Newton Terrace
Charing Cross
Glasgow
G3 7PJ

Comply2 Limited (Registered number: SC295333)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 165,175 122,160

CURRENT ASSETS
Stocks 69,446 70,082
Debtors 372,229 359,958
Cash at bank 10 10,000
441,685 440,040
CREDITORS
Amounts falling due within one year 440,024 426,150
NET CURRENT ASSETS 1,661 13,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,836

136,050

CREDITORS
Amounts falling due after more than one
year

(134,417

)

(111,808

)

PROVISIONS FOR LIABILITIES (31,383 ) (23,210 )
NET ASSETS 1,036 1,032

CAPITAL AND RESERVES
Called up share capital 5 900 900
Capital redemption reserve 6 100 100
Retained earnings 6 36 32
SHAREHOLDERS' FUNDS 1,036 1,032

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.

Comply2 Limited (Registered number: SC295333)

Abridged Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





A Crockett - Director


Comply2 Limited (Registered number: SC295333)

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

1. STATUTORY INFORMATION

Comply2 Limited is a private company, limited by shares , registered in Scotland. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Leasehold property - 10% SLM

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Comply2 Limited (Registered number: SC295333)

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 22 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 290,854
Additions 70,831
Disposals (35,518 )
At 31 March 2024 326,167
DEPRECIATION
At 1 April 2023 168,694
Charge for year 22,196
Eliminated on disposal (29,898 )
At 31 March 2024 160,992
NET BOOK VALUE
At 31 March 2024 165,175
At 31 March 2023 122,160

Comply2 Limited (Registered number: SC295333)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 187,004
Additions 38,876
Disposals (35,518 )
At 31 March 2024 190,362
DEPRECIATION
At 1 April 2023 106,519
Charge for year 15,997
Eliminated on disposal (29,898 )
At 31 March 2024 92,618
NET BOOK VALUE
At 31 March 2024 97,744
At 31 March 2023 80,485

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
450 A Ordinary £1 450 450
450 B Ordinary £1 450 450
900 900

6. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 32 100 132
Profit for the year 149,704 149,704
Dividends (149,700 ) (149,700 )
At 31 March 2024 36 100 136

Comply2 Limited (Registered number: SC295333)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
A Crockett
Balance outstanding at start of year 54,211 46,474
Amounts advanced 21,744 7,737
Amounts repaid (7,736 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,219 54,211

Mrs K O Crockett
Balance outstanding at start of year 53,184 49,816
Amounts advanced 17,376 3,368
Amounts repaid (3,368 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 67,192 53,184